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    Red Ant Dr Progreso, TX 78579

    For Sale
    $650,000

    Nine-unit apartment building in Progreso, TX.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional 9-unit apartment building presents a compelling investment opportunity in the thriving city of Progreso, Texas. Constructed in 2012, this well-maintained property boasts a single building situated on a spacious 20,586.02 square foot lot. The property comprises nine individual units, each featuring two bedrooms and one bathroom, currently generating a consistent rental income of $700 per month. The property's location in the heart of Progreso ensures high occupancy rates and strong rental demand. The building's solid construction and excellent condition minimize potential maintenance costs, maximizing return on investment. This turnkey investment is ideal for both seasoned and aspiring real estate investors seeking a stable and profitable addition to their portfolio. The property's strong cash flow and prime location make it a truly attractive proposition. With its nine units, each generating consistent rental income, this property offers a significant opportunity for passive income generation and long-term capital appreciation. The address is 0 Red Ant Drive, Progreso, TX 78579. The asking price for this exceptional investment property is $650,000.

    Property Features for 0 Red Ant Dr

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    2012
    Buildings
    1
    Units
    9

    HighLights

    • $650,000 asking price for a 9‑unit apartment building.
    • Multifamily property, specifically a 9‑unit apartment building (duplex/triplex/quadruplex).
    • Nine units, each with two bedrooms and one bathroom, currently renting for $700/month.
    • Built in 2012, single building on a 20,586 sq ft lot.
    • Located at 0 Red Ant Drive, Progreso, TX 78579, in Hidalgo County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Map

    City
    Progreso
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.9569011
    Latitude
    26.0874839

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    FAQs

    What type of property is this?
    Multifamily property - Nine-unit apartment building in Progreso, TX.
    Where is this multifamily property located?
    The property is located at Red Ant Dr Progreso, TX.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: $650,000 asking price for a 9-unit apartment building.; Multifamily property, specifically a 9-unit apartment building (duplex/triplex/quadruplex).; Nine units, each with two bedrooms and one bathroom, currently renting for $700/month.
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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
    Red Ant Dr Progreso, TX 78579
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