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    Property profile & analytics

    401 21St St McAllen, TX 78501

    • Small apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3612006
    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 401 21St St

    Year built
    1940
    Property type
    Small apartment buildings

    Description

    This three-unit apartment building, built in 1940, presents a compelling investment opportunity in McAllen, Texas. Located at 401 S 21st Street, 78501, this property boasts a convenient location near the vibrant McAllen Historic Business Redevelopment area, offering easy access to the McAllen Convention and Event Center, La Plaza Mall, and McAllen International Airport. The property sits on a 4,451.83 square foot lot and features a recently installed brand-new metal roof, ensuring durability and minimizing maintenance costs. The triplex comprises three units. Units 1 and 2 each have their own individual electric and water meters, while Units 2 and 3 share a single water and electric meter. This configuration offers flexibility for managing utility expenses. The asking price for this well-situated investment property is $210,000. Its proximity to key attractions and amenities makes it an attractive option for both investors seeking rental income and those looking for a distinctive residential property in a thriving Texas city.

    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
    McAllen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2423334
    Latitude
    26.201386

    Comparable in this City

    • $199,500
      1,762 SF

      McAllen Multifamily Investment

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    • $295,000

      McAllen 3-Plex Investment Opportunity

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    • $535,000

      McAllen 5-Plex Apartment Building

      Five-unit apartment building, excellent location.
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      McAllen Duplex: Prime Location Investment

      Two-unit duplex, excellent location, high potential.
      603 Bicentennial Blvd, McAllen, TX 78501
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    • $180,000

      McAllen Triplex: Prime Investment

      Three-unit fixer-upper, great location.
      2525 Erie Ave, McAllen, TX 78501
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    • $495,999

      McAllen Fourplex: Prime Investment

      Four-unit apartment building, excellent cash flow.
      5800 Nightingale Ave, McAllen, TX 78501
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    Similar Nearby for Sale

    • $535,000

      McAllen 5-Plex Apartment Building

      Five-unit apartment building, excellent location.
      3813 7Th Ct, McAllen, TX 78501
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    • $259,900

      McAllen Duplex: Prime Location Investment

      Two-unit duplex, excellent location, high potential.
      603 Bicentennial Blvd, McAllen, TX 78501
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    • $285,000

      Mission, TX Apartment Building Investment

      Three-unit multifamily, high rental potential
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    • $900,000
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      McAllen Multifamily Investment Opportunity

      3.28-Acre Lot, Prime Location, High Potential
      1401 Jonquil Ave, McAllen, TX 78501
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    • $495,999

      McAllen Fourplex: Prime Investment

      Four-unit apartment building, excellent cash flow.
      5800 Nightingale Ave, McAllen, TX 78501
      View Details
    • $180,000

      McAllen Triplex: Prime Investment

      Three-unit fixer-upper, great location.
      2525 Erie Ave, McAllen, TX 78501
      View Details

    Similar Nearby for Lease

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      McAllen Commercial Land - Highway 83

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      776,961 SF

      Palms Crossing Retail Center

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    • $18 SF/Yr
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      McAllen Retail Land Investment Opportunity

      Prime McAllen location, 2.76 acres, 170 parking spaces.
      1001 Jackson Rd, McAllen, TX 78501
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    • $18 SF/Yr
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      McAllen Retail Space - 2,450 SF

      High-visibility retail space in prime McAllen location.
      1001 10Th St, McAllen, TX 78501
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    • $12,113 /Mo
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      McAllen Office Space Available

      Impressive office space in McAllen's industrial park zone.
      3101 W Military Hwy, McAllen, TX 78501
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    • Contact for pricing
      2,320 SF

      Retail Space in Regional Center

      Endcap space available in high-traffic McAllen power center.
      1700 S 10Th St, McAllen, TX 78501
      View Details
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    401 21St St
    McAllen, TX 78501
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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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