New-Construction Quadplex with Modern
For Sale
$469,999
700 Oriole Road, Weslaco, TX 78596
Residential Income, Weslaco, TX
Property Size4,080 SF
Lot Size0.21 Acres
Price / SF$115.20
Days on Market118
Property Features for 700 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, No Conveying Appliances
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
P677500000000800
Size
4,080 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2419
HOA Fee
$600 Annually
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Shingle
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Added: May 24
Changed: Sep 4
Last Checked: Sep 18 at 12:06PM
MLS# 477983
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 quadplex is under construction and planned across two buildings totaling 4,080 square feet on 0.2149 acres. The unit mix includes one-, two-, and three-bedroom residences, with interiors designed around quartz countertops, streamlined cabinetry, tile flooring, and efficient layouts. Stucco construction, shingle roofing, central heating, central air, and public water service are specified. The property is identified with a 2024 year built.
The site occupies the corner of Pike Road and Milano Road in Weslaco, within the Pike Terrace gated community. Its setting provides access to nearby dining, shopping, and entertainment, while the corner position adds exposure from two intersecting roads. A sprinkler system is included; parking features are listed as none.
The site occupies the corner of Pike Road and Milano Road in Weslaco, within the Pike Terrace gated community. Its setting provides access to nearby dining, shopping, and entertainment, while the corner position adds exposure from two intersecting roads. A sprinkler system is included; parking features are listed as none.
Key Highlights
- 4,080‑square‑foot quadplex on a 0.2149‑acre lot
- Two‑building configuration with one-, two-, and three‑bedroom units
- Under construction with a 2024 year built
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
7.59%
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 7.59%
Second Best
Apartment 5plus
$469.3K
$410.6K – $547.5K
NOI $32,850 @ 7.0% cap · market cap 6.99%
Theoretical Best
Hotel Hospitality
$3.07M
$2.69M – $3.59M
NOI $215,118 @ 7.0% cap · market cap 45.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Paved road access
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 - Four-unit property in a gated community with central HVAC and contemporary interior finishes.
Where is this quadplex located?
The property is located at 700 Oriole Road Weslaco, TX.
What is the asking price?
The asking price for this property is $469,999.
What are key features of this property?
This property features: 4,080‑square‑foot quadplex on a 0.2149‑acre lot; Two‑building configuration with one-, two-, and three‑bedroom units; Under construction with a 2024 year built
