Brick Quadplex with Four Covered Parking
For Sale
$425,000
2213 N Erica Street, Pharr, TX 78577
MULTI_FAMILY - Pharr, TX
Property Size3,952 SF
Lot Size0.21 Acres
Price / SF$107.54
Days on Market292
Property Features for 2213 N Erica Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
2
Parking features
Garage
Exterior features
Mature Trees, Sprinkler System
Fencing
Privacy
Appliances
Electric Water Heater, Dishwasher, Dryer, Microwave, Oven-Microwave, Refrigerator, Stove/Range, Stove/Range-Electric Coil, Washer
Subdivision
Vip Estates
Lot features
Mature Trees, Professional Landscaping, Sidewalks
Elementary school
Ramirez
Middle school
Liberty
High school
PSJA North H.S.
Elementary school district
PSJA ISD
Middle school district
PSJA ISD
High school district
PSJA ISD
Directions
Going West on Ferguson Ave, turn North onto Erica St. The units will be on the West side.
Special listing conditions
Real Estate Owned, In Foreclosure
Standard status
Active
APN
V012500000002900
Size
3,952 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2018
Tax Annual Amount
6840
HOA Fee
$675 Annually
Utilities
Heating system
Electric (Heating), Zoned
Cooling system
Electric, Zoned
Water source
Public
Amenities
granite counters
tile flooring
custom cabinetry
laundry rooms
gated community
Building Details
Year built
2005
Floors in Building
1
Number of units
4
Building materials
Brick
Roof type
Shingle
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Israel Esquivel
(956) 655-5715
Added: Nov 11, 2025
Changed: Aug 13
Last Checked: Aug 30 at 8:06PM
MLS# 486350
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 brick quadplex was built in 2005 and offers four units, each with two bedrooms and two bathrooms. The units include granite counters, tile flooring, custom cabinetry, and dedicated laundry rooms. The property is served by public water and features an electric, zoned heating and cooling system. Exterior amenities include mature trees, a sprinkler system, privacy fencing, and a shingle roof.
Located at 2213 N Erica Street in Pharr, TX 78577, the building provides electric water heating and in-unit appliances such as a refrigerator, stove/range, microwave, dishwasher, washer, and dryer. Parking is provided with a garage/covered parking arrangement for each unit.
Located at 2213 N Erica Street in Pharr, TX 78577, the building provides electric water heating and in-unit appliances such as a refrigerator, stove/range, microwave, dishwasher, washer, and dryer. Parking is provided with a garage/covered parking arrangement for each unit.
Key Highlights
- Four two‑bedroom, two‑bath units in a quadplex
- Built in 2005 with brick construction and a shingle roof
- Granite counters, tile flooring, and custom cabinetry in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,560
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$691,200
$691.2K
Cap Rate 7%
$493,714
$493.7K
Cap Rate 9%
$384,000
$384.0K
Market Conditions
NOI Build-Up for 3,952 SF
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.
Gross rent
$55.5K $14.04/SF
− Vacancy
−$6.1K −$1.55/SF
EGI
$49.4K $12.49/SF
− OpEx
−$14.8K −$3.75/SF
NOI
$34.6K $8.74/SF
Area
Hidalgo County, TX
Vacancy
11.02%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$691,200
Cap Rate 7%
$493,714
Cap Rate 9%
$384,000
Alternative Uses
Best Use
Multifamily LT 5
$493.7K
$432.0K – $576.0K
NOI $34,560 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$454.6K
$397.7K – $530.3K
NOI $31,819 @ 7.0% cap · market cap 7.49%
Theoretical Best
Hotel Hospitality
$2.98M
$2.60M – $3.47M
NOI $208,369 @ 7.0% cap · market cap 49.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
Explore this area
Business Placement
Demographics for 78577, TX
79,937
Population
26,568
Households
3
Avg Household Size
30
Median Age
18%
College-Educated
70%
High-School Grad
26.0 sq mi
ZIP Area
3,075
Density / Sq Mi
$49,768
Median Household Income
$28,186
Median Earnings
$988
Median Rent
$111,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex in Pharr built in 2005 with four 2-bedroom units, privacy fencing, and covered parking.
Where is this quadplex located?
The property is located at 2213 N Erica Street Pharr, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four two‑bedroom, two‑bath units in a quadplex; Built in 2005 with brick construction and a shingle roof; Granite counters, tile flooring, and custom cabinetry in each unit
