Pharr Fourplex: Income
705 Emerald Drive, Pharr, TX 78577
- Added:
- Jan 12, 2026
- Days on Market:
- 137
- Last Refresh:
- May 29 at 9:06 pm
Property Features for 705 Emerald Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 8
- Parking features
- Garage
- Appliances
- Electric Water Heater, Dryer, Refrigerator, Stove/Range-Electric Coil, Washer
- Standard status
- Active
- APN
- L635602000001700
- Size
- 3,422 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7897
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2006
- Floors in Building
- 1
- Number of units
- 4
- Building materials
- Brick, Stucco
- Roof type
- Shingle
Listing agent Jaime Lee Gonzalez (956) 599-8400
Listing office Keller Williams Realty RGV 3300 N Mccoll. Ste P & Q, McAllen, TX (956) 928-1155
Listing date Jan 12, 2026
MLS# 490748
Listing URL
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.
HighLights
- Fully leased fourplex providing immediate income.
- Each unit features 2 bedrooms and 2 bathrooms.
- Highly accessible location south of Nolana and east of Sugar Rd.
- Quick access to retail centers, restaurants, and major roadways.
- Built in 2006.
- Includes essential appliances: refrigerator, stove, washer, and dryer.
Overview
This fourplex in Pharr presents a multifamily investment opportunity. The property is fully leased, with each of the four units featuring 2 bedrooms and 2 bathrooms. The property is situated south of Nolana and east of Sugar Rd, offering accessibility to retail centers, restaurants, and major roadways. The lot size is 0.1949 acres. The property contains 3,422 square feet. This property is located in Hidalgo County, Texas.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.0k | $14.04 |
| − Vacancy | −$5.3k | −$1.55 |
| EGI | $42.8k | $12.49 |
| − OpEx | −$12.8k | −$3.75 |
| NOI | $29.9k | $8.74 |
3,422 SF · lease $14.04/SF/yr · vacancy 11.02% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$427.5K
$374.1K – $498.8K
NOI $29,925 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$393.6K
$344.4K – $459.2K
NOI $27,552 @ 7.0% cap · market cap 6.98%
Theoretical Best
Hotel Hospitality
$2.58M
$2.26M – $3.01M
NOI $180,425 @ 7.0% cap · market cap 45.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Pharr
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.187319
- Latitude
- 26.227535
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Fully leased fourplex in Pharr, TX, near retail and roadways.
Where is this quadplex located?
The property is located at 705 Emerald Drive Pharr, TX.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Fully leased fourplex providing immediate income.; Each unit features 2 bedrooms and 2 bathrooms.; Highly accessible location south of Nolana and east of Sugar Rd.
