Single-Story
For Sale
$299,000
8916 Leo St, El Paso, TX 79904
Two three-bedroom residences offer fireplaces, attached garages, appliances, and washer/dryer connections.
Property Size2,222 SF
Price / SF$134.56
Days on Market20
Property Features for 8916 Leo St
General Information
Standard status
Active
Size
2,222 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1984
Buildings
1
Stories
1
Listing Agency:
Home Guide Real Estate LLC
(915) 855-1110
Listed By:
ClearView Realty
(915) 855-1110
Source:
Clearviewep
Added: Aug 13
Changed: Aug 30
Last Checked: Sep 1 at 6:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Home Guide Real Estate LLC
Investment Insights
Based on property information with market context.
This single-story duplex contains 2,222 square feet and was built in 1984. Each residence includes 3 bedrooms, 2 bathrooms, a living room with fireplace, dining area, kitchen, and a single attached garage. Both units also have washer/dryer hookups and include a dishwasher, stove, and refrigerator.
The property is located near Hondo Pass Drive and Patriot Freeway in Northeast El Paso, with parks, schools, shopping, and Fort Bliss nearby. Both residences are currently rented, providing an existing income-producing configuration for an investor.
The property is located near Hondo Pass Drive and Patriot Freeway in Northeast El Paso, with parks, schools, shopping, and Fort Bliss nearby. Both residences are currently rented, providing an existing income-producing configuration for an investor.
Key Highlights
- 2,222‑square‑foot duplex built in 1984
- Two units, each with 3 bedrooms and 2 bathrooms
- Single attached garage, fireplace, and washer/dryer hookups per residence
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,089
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$401,780
$401.8K
Cap Rate 7%
$286,986
$287.0K
Cap Rate 9%
$223,211
$223.2K
Market Conditions
NOI Build-Up for 2,222 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.1K $13.56/SF
− Vacancy
−$1.4K −$0.64/SF
EGI
$28.7K $12.92/SF
− OpEx
−$8.6K −$3.87/SF
NOI
$20.1K $9.04/SF
Area
El Paso, TX
Vacancy
4.75%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$401,780
Cap Rate 7%
$286,986
Cap Rate 9%
$223,211
Alternative Uses
Best Use
Multifamily LT 5
$287.0K
$251.1K – $334.8K
NOI $20,089 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$264.7K
$231.6K – $308.8K
NOI $18,529 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$557.4K
$487.8K – $650.4K
NOI $39,021 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Explore this area
Business Placement
Demographics for 79904, TX
31,491
Population
13,571
Households
2.3
Avg Household Size
33
Median Age
14%
College-Educated
78%
High-School Grad
12.0 sq mi
ZIP Area
2,624
Density / Sq Mi
$40,892
Median Household Income
$28,775
Median Earnings
$1,017
Median Rent
$117,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences offer fireplaces, attached garages, appliances, and washer/dryer connections.
Where is this duplex located?
The property is located at 8916 Leo St El Paso, TX.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2,222‑square‑foot duplex built in 1984; Two units, each with 3 bedrooms and 2 bathrooms; Single attached garage, fireplace, and washer/dryer hookups per residence
