Newly Built
For Sale
$420,000
807 E Starr Street, Mercedes, TX 78570
Residential Income, Mercedes, TX
Property Size4,050 SF
Lot Size0.23 Acres
Price / SF$103.70
Days on Market193
Property Features for 807 E Starr Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
4
Parking features
Other
Exterior features
Sprinkler System
Appliances
Water Heater (Laundry Room), Water Heater (Other Location), Dryer, Microwave, Refrigerator, Stove/Range-Electric Smooth, Washer
Subdivision
Dawson Estates
Lot features
Professional Landscaping, Sidewalks, Sprinkler System
Elementary school
Hinojosa
Middle school
Sgt. Manuel Chacon
High school
Mercedes H.S.
Elementary school district
Mercedes ISD
Middle school district
Mercedes ISD
High school district
Mercedes ISD
Directions
Head East on Expressway 83. Exit 164 to Mile 1 E Rd. Turn Right on Dawson Rd. Subdivision will be on the left. Building is almost to the end of the street to your left. On GPS please put 700 Dawson Rd, Mercedes, TX 78570 and it will take you to subdivision.
Standard status
Active
APN
D165000000000100
Size
4,050 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
1
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
private fenced backyard
refrigerator
stove
microwave
washer
dryer
Building Details
Year built
2024
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Composition
Listing Agency:
BIG Realty
(956) 465-0011
Listed By:
Irving N. Kim · License #693229
(956) 520-4573
Added: Mar 2
Changed: Sep 4
Last Checked: Sep 11 at 8:06AM
MLS# 484006
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.
Completed in 2024, this 4,050-square-foot fourplex contains four residential units with open-concept interiors and wood-look tile flooring. Each unit includes a kitchen with quartz counters, ceiling-height cabinetry, and a large island, along with spacious bedrooms, generous closets, and a primary suite with an oversized bathroom and closet. Private fenced yards provide individual outdoor space, while each residence is equipped with a refrigerator, electric range, microwave, washer, and dryer.
The property occupies 0.2296 acres at 807 E Starr Street in Mercedes, Texas, near the expressway and a short drive from Rio Grande Valley Premium Outlets. Eight carport spaces serve the units. Additional property features include stucco construction, composition roofing, central electric heating and cooling, public water, and a sprinkler system. Tenants are responsible for their own utilities.
The property occupies 0.2296 acres at 807 E Starr Street in Mercedes, Texas, near the expressway and a short drive from Rio Grande Valley Premium Outlets. Eight carport spaces serve the units. Additional property features include stucco construction, composition roofing, central electric heating and cooling, public water, and a sprinkler system. Tenants are responsible for their own utilities.
Key Highlights
- Four‑unit property completed in 2024
- 4,050 square feet on 0.2296 acres
- Eight covered carport spaces
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
$35,417
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
8.43%
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%
$708,340
$708.3K
Cap Rate 7%
$505,957
$506.0K
Cap Rate 9%
$393,522
$393.5K
Market Conditions
NOI Build-Up for 4,050 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
$56.9K $14.04/SF
− Vacancy
−$6.3K −$1.55/SF
EGI
$50.6K $12.49/SF
− OpEx
−$15.2K −$3.75/SF
NOI
$35.4K $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%
$708,340
Cap Rate 7%
$505,957
Cap Rate 9%
$393,522
Alternative Uses
Best Use
Multifamily LT 5
$506.0K
$442.7K – $590.3K
NOI $35,417 @ 7.0% cap · market cap 8.43%
Second Best
Apartment 5plus
$465.8K
$407.6K – $543.5K
NOI $32,608 @ 7.0% cap · market cap 7.76%
Theoretical Best
Hotel Hospitality
$3.05M
$2.67M – $3.56M
NOI $213,536 @ 7.0% cap · market cap 50.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 78570, TX
32,950
Population
10,701
Households
3.1
Avg Household Size
30
Median Age
12%
College-Educated
61%
High-School Grad
75.2 sq mi
ZIP Area
438
Density / Sq Mi
$39,890
Median Household Income
$22,648
Median Earnings
$686
Median Rent
$83,400
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?
Quadplex - Four-unit property with contemporary interiors, private fenced yards, full appliance packages, and covered parking.
Where is this quadplex located?
The property is located at 807 E Starr Street Mercedes, TX.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Four‑unit property completed in 2024; 4,050 square feet on 0.2296 acres; Eight covered carport spaces
