New Fourplex in Gated
For Sale
$469,000
612 Oriole Road, Weslaco, TX 78596
Residential Income, Weslaco, TX
Property Size4,080 SF
Lot Size0.21 Acres
Price / SF$114.95
Days on Market76
Property Features for 612 Oriole Road
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Property condition
Under Construction
Parking
8
Parking features
None
Exterior features
Sprinkler System
Appliances
Electric Water Heater, Dryer, Microwave, Stove/Range-Electric Smooth, Washer
Subdivision
Pike Terrace
Lot features
Sidewalks, Sprinkler System
Elementary school
Cleckler-Heald
Middle school
Beatrize Garza
High school
Weslaco H.S.
Elementary school district
Weslaco ISD
Middle school district
Weslaco ISD
High school district
Weslaco ISD
Directions
Corner of Milanos Rd and Pike Blvd
Standard status
Active
APN
P677500000000700
Size
4,080 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2845
HOA Fee
$600 Annually
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2025
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Shingle
Listing Agency:
Key Realty
(956) 627-7552
Listed By:
Sabita Mahtani
(956) 371-3393
Added: Jun 15
Changed: Aug 24
Last Checked: Aug 29 at 11:06AM
MLS# 459470
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 4,080-square-foot fourplex is under construction within Pike Terrace, a gated community in Weslaco. The planned unit mix includes one one-bedroom residence, two two-bedroom units with two baths each, and one three-bedroom, two-bath residence. Interior specifications include tile flooring, quartz countertops, LED lighting, kitchen islands, and upgraded cabinetry. Primary bedrooms feature walk-in closets, while primary baths include glass shower doors.
The property occupies 0.2149 acres at the corner of Pike Blvd and Milano Rd. Additional improvements and systems include stucco construction, shingle roofing, central heating and cooling, public water, electric water heating, and a sprinkler system. The 2025 property is positioned near schools, shopping centers, and restaurants.
The property occupies 0.2149 acres at the corner of Pike Blvd and Milano Rd. Additional improvements and systems include stucco construction, shingle roofing, central heating and cooling, public water, electric water heating, and a sprinkler system. The 2025 property is positioned near schools, shopping centers, and restaurants.
Key Highlights
- 4,080‑square‑foot fourplex on a 0.2149‑acre lot
- Unit mix: 1 one‑bedroom, 2 two‑bedroom/2‑bath units, and 1 three‑bedroom/2‑bath unit
- Located in Pike Terrace, a gated community in Weslaco
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
$35,679
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
7.61%
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%
$713,580
$713.6K
Cap Rate 7%
$509,700
$509.7K
Cap Rate 9%
$396,433
$396.4K
Market Conditions
NOI Build-Up for 4,080 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
$57.3K $14.04/SF
− Vacancy
−$6.3K −$1.55/SF
EGI
$51.0K $12.49/SF
− OpEx
−$15.3K −$3.75/SF
NOI
$35.7K $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%
$713,580
Cap Rate 7%
$509,700
Cap Rate 9%
$396,433
Alternative Uses
Best Use
Multifamily LT 5
$509.7K
$446.0K – $594.7K
NOI $35,679 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$469.3K
$410.6K – $547.5K
NOI $32,850 @ 7.0% cap · market cap 7.00%
Theoretical Best
Hotel Hospitality
$3.07M
$2.69M – $3.59M
NOI $215,118 @ 7.0% cap · market cap 45.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
459
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 - Under-construction fourplex with modern finishes and a varied four-unit residential mix.
Where is this quadplex located?
The property is located at 612 Oriole Road Weslaco, TX.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: 4,080‑square‑foot fourplex on a 0.2149‑acre lot; Unit mix: 1 one‑bedroom, 2 two‑bedroom/2‑bath units, and 1 three‑bedroom/2‑bath unit; Located in Pike Terrace, a gated community in Weslaco
