Four-Unit
For Sale
$505,000
2609 E Israel Avenue, Alton, TX 78573
MULTI_FAMILY - Alton, TX
Property Size4,032 SF
Lot Size0.26 Acres
Price / SF$125.25
Days on Market44
Property Features for 2609 E Israel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
None
Appliances
Electric Water Heater, Dryer, Microwave, Refrigerator, Stove/Range-Electric Coil, Washer
Subdivision
Sunterra
Lot features
Professional Landscaping, Sidewalks, Sprinkler System
Elementary school
Jensen
Middle school
Sharyland North Junior
High school
Sharyland Pioneer H.S.
Elementary school district
Sharyland ISD
Middle school district
Sharyland ISD
High school district
Sharyland ISD
Directions
Heading north on Steward Rd passing Mile 4 1/2, you will se the Sunterra Subdivision sign on your right hand side.
Standard status
Active
APN
S706500000000500
Size
4,032 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12713
HOA Fee
$500 Annually
Utilities
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
open concept
modern finishes
high decorative ceiling
custom kitchen cabinets
kitchen appliances
washer and dryer
Building Details
Year built
2024
Floors in Building
1
Number of units
4
Building materials
Brick
Roof type
Shingle
Listing Agency:
STX Real Estate Group
(956) 400-9697
Listed By:
Gloria Gracia
(956) 655-0551
Added: Jul 1
Changed: Aug 4
Last Checked: Aug 13 at 11:06AM
MLS# 503869
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.
Built in 2024, this fourplex/quadplex at 2609 E Israel Avenue offers four rental units in a modern layout. Each unit is configured with three bedrooms and two bathrooms, with an open-concept design and modern finishes that include custom kitchen cabinetry. The home package includes kitchen appliances plus an in-unit washer and dryer, supporting day-one occupancy.
The property is a brick structure with shingle roofing. Heating and cooling are electric, with central air and central heating. Water service is public. The lot size is 0.2649 acres, and the property has 4,032 square feet.
Set in the Sunterra Subdivision in Alton, the property is described as being near schools and main roads, with a maintenance-focused, turnkey condition for a long-term hold.
The property is a brick structure with shingle roofing. Heating and cooling are electric, with central air and central heating. Water service is public. The lot size is 0.2649 acres, and the property has 4,032 square feet.
Set in the Sunterra Subdivision in Alton, the property is described as being near schools and main roads, with a maintenance-focused, turnkey condition for a long-term hold.
Key Highlights
- Four units with three bedrooms and two bathrooms per unit
- Built in 2024 quadplex with modern open‑concept layouts
- Brick construction with shingle roof
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
$35,260
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
6.98%
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%
$705,200
$705.2K
Cap Rate 7%
$503,714
$503.7K
Cap Rate 9%
$391,778
$391.8K
Market Conditions
NOI Build-Up for 4,032 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
$56.6K $14.04/SF
− Vacancy
−$6.2K −$1.55/SF
EGI
$50.4K $12.49/SF
− OpEx
−$15.1K −$3.75/SF
NOI
$35.3K $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%
$705,200
Cap Rate 7%
$503,714
Cap Rate 9%
$391,778
Alternative Uses
Best Use
Multifamily LT 5
$503.7K
$440.8K – $587.7K
NOI $35,260 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$463.8K
$405.8K – $541.1K
NOI $32,464 @ 7.0% cap · market cap 6.43%
Theoretical Best
Hotel Hospitality
$3.04M
$2.66M – $3.54M
NOI $212,587 @ 7.0% cap · market cap 42.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
822
Businesses Nearby
Explore this area
Business Placement
Demographics for 78573, TX
42,229
Population
13,339
Households
3.2
Avg Household Size
29
Median Age
15%
College-Educated
63%
High-School Grad
36.7 sq mi
ZIP Area
1,151
Density / Sq Mi
$51,185
Median Household Income
$27,730
Median Earnings
$909
Median Rent
$154,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Built in 2024, this Alton fourplex includes four three-bedroom units with two bathrooms each.
Where is this quadplex located?
The property is located at 2609 E Israel Avenue Alton, TX.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: Four units with three bedrooms and two bathrooms per unit; Built in 2024 quadplex with modern open‑concept layouts; Brick construction with shingle roof
