Modern
For Sale
$499,000
3121 Briggs Road, Weslaco, TX 78596
Residential Income, Weslaco, TX
Property Size4,398 SF
Lot Size0.20 Acres
Price / SF$113.46
Days on Market146
Property Features for 3121 Briggs Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Garage
Patio and Porch features
Patio
Appliances
Electric Water Heater, Dryer, Microwave, Refrigerator, Stove/Range-Electric Coil, Washer
Subdivision
Rio Meadows
Lot features
Professional Landscaping, Sidewalks, Sprinkler System
Elementary school
Memorial
Middle school
Central
High school
Weslaco East H.S.
Elementary school district
Weslaco ISD
Middle school district
Weslaco ISD
High school district
Weslaco ISD
Directions
Located on Briggs Road, off South Midway Road, close to W Expressway 83 and off Old 83. From McAllen: Going East on Expressway 83, take exit 155B, turning right on Midway Rd. Continue driving, passing Old-83 and turn left on Briggs Rd.
Standard status
Active
APN
R311000000005100
Size
4,398 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8777
HOA Fee
$500 Annually
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
gated subdivision
yards
stainless steel appliances
in-unit washer/dryer
Building Details
Year built
2024
Floors in Building
1
Number of units
4
Building materials
Stone, Stucco
Roof type
Composition
Listing Agency:
BIG Realty
(956) 465-0011
Listed By:
Nicole Fuller
(956) 929-9938
Added: Apr 15
Changed: Sep 4
Last Checked: Sep 7 at 4:06AM
MLS# 497250
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 2024-built quadplex contains 4,398 square feet across four independently metered units. The configuration includes two three-bedroom, two-bath units and two two-bedroom, two-bath units, with spacious yards serving both three-bedroom residences. Each unit includes a refrigerator, electric range, microwave, and washer and dryer. Interior finishes include tile flooring and quartz countertops, supported by central heating and central air conditioning.
The property occupies 0.2 acres in the gated Rio Meadows subdivision in Weslaco, with a short drive to the expressway. Additional features include garage parking, patios, public water service, composition roofing, and stone and stucco construction. All four units are fully leased.
The property occupies 0.2 acres in the gated Rio Meadows subdivision in Weslaco, with a short drive to the expressway. Additional features include garage parking, patios, public water service, composition roofing, and stone and stucco construction. All four units are fully leased.
Key Highlights
- Fourplex built in 2024 with 4,398 square feet on a 0.2‑acre lot
- Unit mix includes two 3 bed/2 bath units and two 2 bed/2 bath units
- All 4 units are independently metered and fully leased
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
$38,460
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
7.71%
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%
$769,200
$769.2K
Cap Rate 7%
$549,429
$549.4K
Cap Rate 9%
$427,333
$427.3K
Market Conditions
NOI Build-Up for 4,398 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
$61.7K $14.04/SF
− Vacancy
−$6.8K −$1.55/SF
EGI
$54.9K $12.49/SF
− OpEx
−$16.5K −$3.75/SF
NOI
$38.5K $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%
$769,200
Cap Rate 7%
$549,429
Cap Rate 9%
$427,333
Alternative Uses
Best Use
Multifamily LT 5
$549.4K
$480.8K – $641.0K
NOI $38,460 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$505.9K
$442.6K – $590.2K
NOI $35,410 @ 7.0% cap · market cap 7.10%
Theoretical Best
Hotel Hospitality
$3.31M
$2.90M – $3.86M
NOI $231,885 @ 7.0% cap · market cap 46.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Explore this area
Business Placement
Demographics for 78596, TX
37,329
Population
15,824
Households
2.4
Avg Household Size
36
Median Age
21%
College-Educated
75%
High-School Grad
40.1 sq mi
ZIP Area
931
Density / Sq Mi
$53,797
Median Household Income
$31,618
Median Earnings
$917
Median Rent
$92,800
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 separately metered residences provide a mix of two- and three-bedroom layouts within a gated Weslaco subdivision.
Where is this quadplex located?
The property is located at 3121 Briggs Road Weslaco, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Fourplex built in 2024 with 4,398 square feet on a 0.2‑acre lot; Unit mix includes two 3 bed/2 bath units and two 2 bed/2 bath units; All 4 units are independently metered and fully leased
