$1,500,000
●
House -
For Sale
587 BAUMAN Road
Socorro, TX 79927
3 Beds
2 Baths
$7,769
Est. Monthly
About This Property
Prime 7.2-Acre Corner Development Opportunity! Exceptional
investment property located at the highly visible corner of North
Loop Dr. and Bauman Rd. in the heart of Socorro's rapidly growing
development corridor. Situated directly across from Rojas
Elementary School and adjacent to the fire department, this
property is surrounded by expanding residential, commercial, and
industrial developments.
Offering outstanding potential for multifamily housing, apartments, duplexes etc. (subject to zoning and approvals). Existing homes and structures are present; however, the value is in the land and its future development potential.
Property includes 2 water wells and irrigation rights, adding versatility and long-term value. Excellent visibility, convenient access, and a strategic location make this a rare opportunity for developers, investors, and builders looking to capitalize on Socorro's continued growth.
Offering outstanding potential for multifamily housing, apartments, duplexes etc. (subject to zoning and approvals). Existing homes and structures are present; however, the value is in the land and its future development potential.
Property includes 2 water wells and irrigation rights, adding versatility and long-term value. Excellent visibility, convenient access, and a strategic location make this a rare opportunity for developers, investors, and builders looking to capitalize on Socorro's continued growth.
Unit Size
-
Days on Market
93 days
Land Size
7.20 acres
Price per sqft
-
Property Type
House
Property Taxes
$403
HOA Dues
-
Year Built
1987
Listed By
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100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 4 months ago (GEPAR MLS #947277)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 8, 2026 | Listed by ClearView Realty | $1,500,000 | |
| Listed by ClearView Realty | |||
Property Highlights
Fireplace
Interior Details
Full Bathrooms: 2
Interior Features: See Remarks
Appliances: See Remarks
Flooring Type: See Remarks
Has Fireplace
Fireplaces: 1
Exterior Details
Architectural Style: 1 Story
Year Built: 1987
Building Area Total: 2424
Window Features: See Remarks
Construction Materials: Brick
Lot Features: Corner Lot, See Remarks
Lot Size Area: 7.2
Lot Size Units: Acres
Lot Size Acres: 7.2
Lot Size Square Feet: 313632
Water Source: See Remarks, Well, City
Financial Details
Tax Annual Amount: $4,836
Utilities Details
Cooling Type: Refrigerated
Heating Type: Central
Sewer : Public Sewer
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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ft²
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About Socorro
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Listed by: Ashlee Wells, ClearView Realty
Last Updated: 4 months ago
Data Source: GEPAR, MLS# 947277
The data relating to real estate for sale on this web site comes in part from the IDX Program of the Greater El Paso Association of REALTORS®. Real estate listings held by brokerage firms other than RH Advisors, Inc. and RHP Realty NJ, Inc. are marked with the IDX logo or the IDX thumbnail logo and detailed information about them includes the name of the listing brokers.
Listing data is deemed reliable but not guaranteed.
Copyright 2026 the Greater El Paso Association of REALTORS®, MLS Inc. All rights reserved.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
Last Updated: 4 months ago
Data Source: GEPAR, MLS# 947277
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