ZIP CODE 79938 // EL PASO, TX // DATA AS OF 2026-09-30
El Paso, TX (79938) Rental Property Cap Rate & Cash Flow Report
Located in El Paso County (El Paso, TX), Zip Code 79938 ranks #48 of 500 within this selected sample (91th percentile) with a Zillow ZHVI typical home-value index of $256,135 (+2.1% YoY) and a ZORI observed market rent of $1,747/mo (+1.8% YoY). Requires at least 32.1% down payment at 6.5% interest to reach $0/mo break-even cash flow. This model combines different housing populations; it is not an observed average property return. Costs assume state-average tax, 0.5% annual insurance, 13% reserves and no HOA or management. Figures below follow your edits; this headline describes the original benchmark.
Net Monthly Cash Flow
-$196/mo
Annual: -$2,349/yr
Modeled Cap Rate
5.15%
NOI: $13,193/yr
Cash-on-Cash Return
-3.99%
Cash Needed: $58,911
1% Rule Ratio
0.68%
Gross Yield: 8.18%
Break-Even Rent
$1,972/mo
State Tax: 1.47%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 79938 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (TX Avg 1.47%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$1,295/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$648/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (79938)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2021 | $202,388 | $1,410/mo | 8.36% |
| 2022 | $237,442 | $1,566/mo | 7.91% |
| 2023 | $247,346 | $1,632/mo | 7.92% |
| 2024 | $250,012 | $1,661/mo | 7.97% |
| 2025 | $250,979 | $1,716/mo | 8.20% |
| 2026 | $256,135 | $1,747/mo | 8.18% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 77449 Katy, TX | $264,942 | $1,809/mo | 5.16% | -$201/mo |
| 75126 Forney, TX | $306,043 | $2,085/mo | 5.14% | -$236/mo |
| 79924 El Paso, TX | $194,573 | $1,331/mo | 5.17% | -$145/mo |
| 75040 Garland, TX | $270,233 | $1,832/mo | 5.11% | -$216/mo |
| 78572 Mission, TX | $193,376 | $1,327/mo | 5.19% | -$141/mo |
| 79928 El Paso, TX | $262,067 | $1,808/mo | 5.23% | -$182/mo |