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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1408 Pne St Progreso Lakes, TX 78596

    • Small apartment buildings
    • 2,620 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-7485088
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 1408 Pne St

    Year built
    2007
    Property size
    2,620 SF
    Property type
    Small apartment buildings

    Description

    This exceptional investment opportunity presents a fully remodeled four-unit apartment building situated at 1408 Pine Street in Weslaco, Texas, 78596. Built in 2007, this property boasts a total of 2,620 square feet across two buildings, situated on a generous 9,273.92 square foot lot. Each of the four units has undergone a complete renovation, showcasing updated interiors, modern finishes, and ample living space. Upgrades include new flooring, upgraded kitchens, and refreshed bathrooms, ensuring a high-quality living experience for tenants. The property is well-maintained, offering a low-maintenance investment for prospective buyers. Its prime location near the International Bridge in Progreso Lakes provides convenient access to neighboring areas, making it highly attractive to renters. Additional amenities include off-street parking and a shared outdoor space, enhancing the overall appeal and convenience of the property. The asking price for this turnkey investment is $280,000. This property represents a strong potential for rental income and long-term appreciation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Progreso Lakes
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.9448077
    Latitude
    26.1020733

    Comparable in this City

    • $1,400,000
      17.88 Acres

      International Blvd. Commercial Land

      17.88 Acres, Prime Progreso Location
      0000 International Blvd, Weslaco, TX 78596
      View Details
    • $725,000
      1.01 Acres

      Weslaco Multifamily Investment Opportunity

      13-Unit Apartment Complex, High ROI Potential
      2701 Midway Rd, Weslaco, TX 78596
      View Details
    • $445,000

      Weslaco Fourplex: Prime Investment

      New Construction, 4 Units, High ROI Potential
      2808 Delta Rd, Weslaco, TX 78596
      View Details
    • $520,000

      Weslaco Fourplex: Prime Investment

      Brand new, four-unit apartment building.
      600 Brito Ln, Weslaco, TX 78596
      View Details
    • $285,000
      2,279 SF

      Weslaco Multifamily Investment Opportunity

      Fourplex, 4 Units, High Rental Income Potential
      1309 Gonzalez Rd, Weslaco, TX 78596
      View Details
    • $499,000
      4,502 SF

      Weslaco Multifamily Investment

      Brand new 4-unit apartment complex
      2700 Mockingbird Rd, Weslaco, TX 78596
      View Details

    Similar Nearby for Sale

    • $1,400,000
      17.88 Acres

      International Blvd. Commercial Land

      17.88 Acres, Prime Progreso Location
      0000 International Blvd, Weslaco, TX 78596
      View Details
    • $725,000
      1.01 Acres

      Weslaco Multifamily Investment Opportunity

      13-Unit Apartment Complex, High ROI Potential
      2701 Midway Rd, Weslaco, TX 78596
      View Details
    • $445,000

      Weslaco Fourplex: Prime Investment

      New Construction, 4 Units, High ROI Potential
      2808 Delta Rd, Weslaco, TX 78596
      View Details
    • $520,000

      Weslaco Fourplex: Prime Investment

      Brand new, four-unit apartment building.
      600 Brito Ln, Weslaco, TX 78596
      View Details
    • $285,000
      2,279 SF

      Weslaco Multifamily Investment Opportunity

      Fourplex, 4 Units, High Rental Income Potential
      1309 Gonzalez Rd, Weslaco, TX 78596
      View Details
    • $499,000
      4,502 SF

      Weslaco Multifamily Investment

      Brand new 4-unit apartment complex
      2700 Mockingbird Rd, Weslaco, TX 78596
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      2,750 SF

      Weslaco Commercial Land Opportunity

      Prime .48-acre lot, build-to-suit available.
      503 Illinois Ave, Weslaco, TX 78596
      View Details
    • $1,300 /Mo
      1,250 SF

      Versatile Commercial Space Available

      1,250 SF space ideal for office, retail, or medical.
      623 S Texas Blvd, Weslaco, TX 78596
      View Details
    • $15 SF/Yr
      3,600 SF

      Weslaco Retail Space for Lease

      High-traffic retail space in prime Weslaco location
      1601 Us Hwy Business 83 St, San Juan, TX 78596
      View Details
    • $15 SF/Yr
      9,600 SF

      Weslaco Medical Office Space

      Prime Medical Office, Weslaco, TX
      1525 6Th St, Weslaco, TX 78596
      View Details
    • Contact for pricing
      170 SF

      Weslaco Office Suite for Lease

      Prime Weslaco location, 170 sq ft office.
      150 Texas Blvd, Weslaco, TX 78596
      View Details
    • $68,000

      Commercial Land for Lease

      Land available for lease, suitable for various commercial uses.
      2300 S International Blvd, Weslaco, TX 78596
      View Details
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    1408 Pne St
    Progreso Lakes, TX 78596
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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