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    912 29Th St Mission, TX 78501

    For Sale
    $285,000

    Three-unit multifamily, high rental potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional three-unit apartment building in Mission, Texas, presents a compelling investment opportunity. Located at 912 N 29th Street, McAllen, TX 78501, this property comprises a duplex and a separate single-family home, offering immediate income generation. The duplex features two 2-bedroom, 1-bathroom units, while the single-family home boasts three bedrooms and two bathrooms. Built in 1981, the property benefits from recent upgrades, including a roof and AC system replacement seven years ago and brand new water heaters in all three units. Currently generating $2250 in monthly rent, the property's rental income can be significantly increased to an estimated $2750 per month with strategic rent adjustments. Further renovations to the single-family home are projected to boost rental income to $1750, and the duplex units to $800 each, resulting in a potential total monthly rental income of $3250. The property's proximity to the STC Pecan campus adds significant long-term value, with the potential for future acquisition by the college at a price above market value. This property is priced at $285,000 and offers a strong return on investment with potential for substantial appreciation. The property is situated in Hidalgo County, Texas, and offers a rare opportunity for investors seeking immediate income and long-term growth potential.

    Property Features for 912 29Th St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1981
    Buildings
    1
    Units
    3

    HighLights

    • $285,000 asking price.
    • Three‑unit multifamily apartment building (duplex/triplex).
    • Located at 912 N 29th Street, McAllen, TX 78501.
    • Built in 1981.
    • Currently generates $2,250 monthly rent, with potential for $3,250 after renovations and rent increases.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2517421
    Latitude
    26.2151401

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    FAQs

    What type of property is this?
    Multifamily property - Three-unit multifamily, high rental potential
    Where is this multifamily property located?
    The property is located at 912 29Th St Mission, TX.
    What is the asking price?
    The asking price for this property is $285,000.
    What are key features of this property?
    This property features: $285,000 asking price.; Three-unit multifamily apartment building (duplex/triplex).; Located at 912 N 29th Street, McAllen, TX 78501.
    Request Owner's contact information
    912 29Th St Mission, TX 78501
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    Mission, TX 78501
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    912 29Th St Mission, TX 78501
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