Pharr Fourplex: Income-Generating
2205 N Erica Street Pharr, TX 78577
For Sale
$396,000
MULTI_FAMILY - Pharr, TX
Property Size3,640 SF
Lot Size0.21 Acres
Price / SF$108.79
Days on Market88
Property Features for 2205 N Erica Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Garage
Patio and Porch features
Patio
Appliances
Electric Water Heater, Electric Cooktop, Dryer, Refrigerator, Washer
Standard status
Active
APN
V012500000003100
Size
3,640 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8722
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Building Details
Year built
2004
Floors in Building
1
Number of units
4
Building materials
Brick
Roof type
Composition
Listing Agency:
RE/MAX elite
(956) 583-2100
Listed By:
Yanett Rodriguez · License #695607
(956) 522-8213
Added: May 1
Changed: Jun 10
Last Checked: Jul 27 at 3:06PM
MLS# 479544
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained fourplex, located in Pharr, Texas, features four spacious 2-bedroom, 2-bathroom units. The property is situated in a high-demand rental area near shopping centers, schools, and with quick access to the expressway. It offers a functional, open layout. Each unit is individually metered. Tenants benefit from covered parking. The property is a strong income-producing property. The lot size is 0.2124 acres, and the property size is 3640 square feet.
Key Highlights
- Fourplex built in 2004 with four 2‑bedroom, 2‑bath units
- Each unit is individually metered
- Units include in‑unit appliances: electric water heater, electric cooktop, refrigerator, washer, and dryer
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.1k | $14.04 |
| − Vacancy | −$5.6k | −$1.55 |
| EGI | $45.5k | $12.49 |
| − OpEx | −$13.6k | −$3.75 |
| NOI | $31.8k | $8.74 |
3,640 SF · lease $14.04/SF/yr · vacancy 11.02% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$454.7K
$397.9K – $530.5K
NOI $31,832 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$418.7K
$366.3K – $488.5K
NOI $29,307 @ 7.0% cap · market cap 7.40%
Theoretical Best
Hotel Hospitality
$2.74M
$2.40M – $3.20M
NOI $191,919 @ 7.0% cap · market cap 48.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained fourplex in prime location near shopping and expressway.
Where is this quadplex located?
The property is located at 2205 N Erica Street Pharr, TX.
What is the asking price?
The asking price for this property is $396,000.
What are key features of this property?
This property features: Fourplex built in 2004 with four 2‑bedroom, 2‑bath units; Each unit is individually metered; Units include in‑unit appliances: electric water heater, electric cooktop, refrigerator, washer, and dryer
