Four-Plex Residential Income
For Sale
$524,900
2509 E Israel Avenue, Alton, TX 78572
MULTI_FAMILY - Alton, TX
Property Size4,319 SF
Lot Size0.26 Acres
Price / SF$121.53
Days on Market47
Property Features for 2509 E Israel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Property condition
Under Construction
Parking
8
Parking features
None
Fencing
Privacy
Appliances
Electric Water Heater, Smooth Electric Cooktop, Dryer, Refrigerator, Washer
Subdivision
Sunterra Estates
Lot features
Corner Lot, Sidewalks
Elementary school
Cantu
Middle school
Mission Junior High
High school
Mission H.S.
Elementary school district
Mission ISD
Middle school district
Mission ISD
High school district
Mission ISD
Directions
Go WEST on Trenton, turn SOUTH on Steward and then turn EAST on Israel Ave
Standard status
Active
APN
S706500000000200
Size
4,319 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3374
HOA Fee
$500 Annually
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2025
Floors in Building
1
Number of units
4
Building materials
Brick
Roof type
Shingle
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Added: Jul 13
Changed: Jul 21
Last Checked: Aug 28 at 10:06AM
MLS# 509450
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 four-plex offers four well-appointed residential units, each with 3 bedrooms and 2 bathrooms. The property includes a full appliance package in every unit, with a refrigerator (including an ice maker), stove, microwave, washer, and dryer. The building is presented as turnkey, and it is currently fully occupied.
Located at 2509 E Israel Avenue in Alton, Texas (Hidalgo County), the property sits on a 0.26-acre lot and includes approximately 4,319 square feet of total building area.
For buyers seeking an income-producing multi-family asset, this configuration provides four separate rental units with in-unit appliances and maintained occupancy at the time of listing.
Located at 2509 E Israel Avenue in Alton, Texas (Hidalgo County), the property sits on a 0.26-acre lot and includes approximately 4,319 square feet of total building area.
For buyers seeking an income-producing multi-family asset, this configuration provides four separate rental units with in-unit appliances and maintained occupancy at the time of listing.
Key Highlights
- Under construction 4‑plex built in 2025 with four units
- Each unit offers 3 bedrooms and 2 bathrooms
- Full appliance package included in every unit: refrigerator with ice maker, stove, microwave, washer, and dryer
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
$37,769
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
7.20%
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%
$755,380
$755.4K
Cap Rate 7%
$539,557
$539.6K
Cap Rate 9%
$419,656
$419.7K
Market Conditions
NOI Build-Up for 4,319 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
$60.6K $14.04/SF
− Vacancy
−$6.7K −$1.55/SF
EGI
$54.0K $12.49/SF
− OpEx
−$16.2K −$3.75/SF
NOI
$37.8K $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%
$755,380
Cap Rate 7%
$539,557
Cap Rate 9%
$419,656
Alternative Uses
Best Use
Multifamily LT 5
$539.6K
$472.1K – $629.5K
NOI $37,769 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$496.8K
$434.7K – $579.6K
NOI $34,774 @ 7.0% cap · market cap 6.62%
Theoretical Best
Hotel Hospitality
$3.25M
$2.85M – $3.80M
NOI $227,719 @ 7.0% cap · market cap 43.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Explore this area
Business Placement
Demographics for 78572, TX
78,280
Population
32,696
Households
2.4
Avg Household Size
36
Median Age
25%
College-Educated
75%
High-School Grad
53.7 sq mi
ZIP Area
1,458
Density / Sq Mi
$54,029
Median Household Income
$30,004
Median Earnings
$900
Median Rent
$121,900
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 - Four 3-bedroom, 2-bath units come with full appliance packages, with 100% occupancy in place.
Where is this quadplex located?
The property is located at 2509 E Israel Avenue Alton, TX.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Under construction 4‑plex built in 2025 with four units; Each unit offers 3 bedrooms and 2 bathrooms; Full appliance package included in every unit: refrigerator with ice maker, stove, microwave, washer, and dryer
