Nine-Unit Apartment
For Sale
$760,000
8005 Cisne Street, Pharr, TX 78577
Residential Income, Pharr, TX
Property Size7,998 SF
Lot Size0.64 Acres
Price / SF$95.02
Days on Market140
Property Features for 8005 Cisne Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
18
Parking features
None
Exterior features
Mature Trees
Appliances
Electric Water Heater, Disposal, Refrigerator, Stove/Range, Washer
Subdivision
Las Milpas
Lot features
Irregular Lot, Mature Trees
Elementary school
Anaya
Middle school
Escalante
High school
PSJA H.S.
Elementary school district
PSJA ISD
Middle school district
PSJA ISD
High school district
PSJA ISD
Directions
From W LAS MILPAS RD and S CAGE BLVD head WEST on W LAS MILPAS RD; turn NORTH on CISNE ST; property will be on the EAST side.
Standard status
Active
APN
L330000000000613
Size
7,998 SF
Lot size
0.64 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
14387
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1999
Floors in Building
1
Number of units
9
Building materials
Brick, Wood Siding
Roof type
Composition
Listing Agency:
Glass House Real Estate
(956) 331-9329
Listed By:
Antonio Gabriel Villeda · License #801067833
(956) 878-9434
Added: Apr 25
Changed: Sep 5
Last Checked: Sep 11 at 4:06PM
MLS# 410289
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 9-unit apartment property in Pharr, Texas, contains 7,998 square feet on a 0.64-acre site. The unit mix is predominantly three-bedroom, two-bath residences, and all leases run for 12 months. Built in 1999, the property features brick and wood siding, composition roofing, central electric heating and cooling, and public water service. Individual units include electric water heaters, refrigerators, ranges, disposals, and washers.
The roof was replaced in 2016, while most HVAC and water heater systems are less than 7 years old. Mature trees contribute to the exterior setting. The property is located at 8005 Cisne Street in Pharr, Hidalgo County, Texas.
The roof was replaced in 2016, while most HVAC and water heater systems are less than 7 years old. Mature trees contribute to the exterior setting. The property is located at 8005 Cisne Street in Pharr, Hidalgo County, Texas.
Key Highlights
- 9‑unit apartment property with 7,998 square feet of building area
- 0.64‑acre site in Pharr, TX
- Predominantly 3 bed / 2 bath unit configuration
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
$64,396
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
8.47%
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%
$1,287,920
$1.3M
Cap Rate 7%
$919,943
$919.9K
Cap Rate 9%
$715,511
$715.5K
Market Conditions
NOI Build-Up for 7,998 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
$132.4K $16.56/SF
− Vacancy
−$15.4K −$1.92/SF
EGI
$117.1K $14.64/SF
− OpEx
−$52.7K −$6.59/SF
NOI
$64.4K $8.05/SF
Area
Hidalgo County, TX
Vacancy
11.60%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
45.00%
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%
$1,287,920
Cap Rate 7%
$919,943
Cap Rate 9%
$715,511
Alternative Uses
Best Use
Apartment 5plus
$919.9K
$805.0K – $1.07M
NOI $64,396 @ 7.0% cap · market cap 8.47%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$6.02M
$5.27M – $7.03M
NOI $421,695 @ 7.0% cap · market cap 55.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
9
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Explore this area
Business Placement
Demographics for 78577, TX
79,937
Population
26,568
Households
3
Avg Household Size
30
Median Age
18%
College-Educated
70%
High-School Grad
26.0 sq mi
ZIP Area
3,075
Density / Sq Mi
$49,768
Median Household Income
$28,186
Median Earnings
$988
Median Rent
$111,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased multifamily property with predominantly three-bedroom, two-bath units and 12-month leases.
Where is this apartment building located?
The property is located at 8005 Cisne Street Pharr, TX.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: 9‑unit apartment property with 7,998 square feet of building area; 0.64‑acre site in Pharr, TX; Predominantly 3 bed / 2 bath unit configuration
