Newly Built Four-Unit
For Sale
$525,000
849 Deluxe Street, Alamo, TX 78589
MULTI_FAMILY - Alamo, TX
Property Size5,179 SF
Lot Size0.38 Acres
Price / SF$101.37
Days on Market13
Property Features for 849 Deluxe Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
Other
Patio and Porch features
Patio
Exterior features
Sprinkler System
Appliances
Electric Water Heater, Dryer, Microwave, Refrigerator, Stove/Range, Washer
Subdivision
The Heights At Alamo
Lot features
Curb & Gutters, Sidewalks
Elementary school
Guerra
Middle school
Alamo
High school
PSJA Memorial H.S.
Elementary school district
PSJA ISD
Middle school district
PSJA ISD
High school district
PSJA ISD
Directions
From the expressway go north on Alamo Rd. right before 495 turn left. then turn left on the first street. Go all the way to the end and the property will be on your right hand side (west)
Standard status
Active
APN
H196300000001000
Size
5,179 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
1
HOA Fee
$650 Annually
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
2024
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Composition
Listing Agency:
SANETI Realty Group
(956) 833-1850
Listed By:
Claudia Hortencia Perez Maldonado
(956) 332-0777
Added: Jul 18
Last Checked: Jul 30 at 4:06PM
MLS# 492005
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 newly built quadplex offers four fully leased apartment units, each configured as a 3-bedroom, 2-bath home. Interiors feature tile flooring throughout, quartz countertops, stylish fixtures, and each unit includes kitchen appliances. Exterior improvements include modern stucco finishes, with metal carports provided for the units.
The property is located in Alamo, Texas, in Hidalgo County, on Deluxe Street. The public remarks note convenient access to Expressway 83 and proximity to schools, restaurants, and shopping.
With all four units currently leased, the building provides a straightforward four-unit rental setup designed around consistent unit finishes and modern in-unit amenities.
The property is located in Alamo, Texas, in Hidalgo County, on Deluxe Street. The public remarks note convenient access to Expressway 83 and proximity to schools, restaurants, and shopping.
With all four units currently leased, the building provides a straightforward four-unit rental setup designed around consistent unit finishes and modern in-unit amenities.
Key Highlights
- Fully leased units provide immediate rental income.
- Brand‑new construction (2024) minimizes maintenance concerns.
- Four spacious 3‑bedroom, 2‑bath units offer desirable living spaces.**
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 | $72.7k | $14.04 |
| − Vacancy | −$8.0k | −$1.55 |
| EGI | $64.7k | $12.49 |
| − OpEx | −$19.4k | −$3.75 |
| NOI | $45.3k | $8.74 |
5,179 SF · lease $14.04/SF/yr · vacancy 11.02% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$647.0K
$566.1K – $754.8K
NOI $45,290 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$595.7K
$521.2K – $695.0K
NOI $41,699 @ 7.0% cap · market cap 7.94%
Theoretical Best
Hotel Hospitality
$3.90M
$3.41M – $4.55M
NOI $273,063 @ 7.0% cap · market cap 52.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 78589, TX
38,987
Population
12,393
Households
3.1
Avg Household Size
32
Median Age
13%
College-Educated
62%
High-School Grad
25.5 sq mi
ZIP Area
1,529
Density / Sq Mi
$51,662
Median Household Income
$27,679
Median Earnings
$926
Median Rent
$112,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Brand-new fully leased quadplex with four 3-bedroom, 2-bath units featuring tile floors, quartz countertops, and metal carports.
Where is this quadplex located?
The property is located at 849 Deluxe Street Alamo, TX.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Fully leased units provide immediate rental income.; Brand‑new construction (2024) minimizes maintenance concerns.; Four spacious 3‑bedroom, 2‑bath units offer desirable living spaces.**
