4-Unit Quadplex with
For Sale
Contact for pricing
1015 Starr Street, Mercedes, TX 78570
Corner-lot property offers fenced outdoor areas, covered parking, and kitchens equipped with major appliances.
Property Size3,920 SF
Price / SF$111.99
Days on Market14
Property Features for 1015 Starr Street
General Information
Standard status
Active
Size
3,920 SF
Total Parking Spaces
8
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Year Built
2023
Buildings
2
Units
4
Listing Agency:
Alliance Real Estate Group
Listed By:
Daniela Perez
Source:
Crexi
Added: Aug 11
Changed: Aug 22
Last Checked: Aug 23 at 10:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Alliance Real Estate Group
Investment Insights
Based on property information with market context.
Built in 2023, this 3,920-square-foot quadplex contains four residences with a mix of two- and three-bedroom floor plans. Each unit includes two full bathrooms, an open-concept interior, wood-look tile flooring, walk-in closets, quartz kitchen countertops, custom cabinetry, and substantial storage. Refrigerators, stoves, washers, and dryers are included. Private fenced backyards provide individual outdoor space, while the property offers eight covered carport spaces.
Positioned on a corner lot at 1015 Starr Street in Mercedes, Texas, the property is near an expressway, major roadways, shopping, dining, and the Rio Grande Valley Premium Outlets. Utilities are paid by tenants, and the residences feature larger backyards created by the corner-lot configuration.
Positioned on a corner lot at 1015 Starr Street in Mercedes, Texas, the property is near an expressway, major roadways, shopping, dining, and the Rio Grande Valley Premium Outlets. Utilities are paid by tenants, and the residences feature larger backyards created by the corner-lot configuration.
Key Highlights
- 3,920‑square‑foot quadplex built in 2023
- Four residences with two- and three‑bedroom layouts
- Each unit has 2 full bathrooms and an open‑concept floor plan
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
$34,280
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
7.81%
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%
$685,600
$685.6K
Cap Rate 7%
$489,714
$489.7K
Cap Rate 9%
$380,889
$380.9K
Market Conditions
NOI Build-Up for 3,920 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
$55.0K $14.04/SF
− Vacancy
−$6.1K −$1.55/SF
EGI
$49.0K $12.49/SF
− OpEx
−$14.7K −$3.75/SF
NOI
$34.3K $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%
$685,600
Cap Rate 7%
$489,714
Cap Rate 9%
$380,889
Alternative Uses
Best Use
Multifamily LT 5
$489.7K
$428.5K – $571.3K
NOI $34,280 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$450.9K
$394.5K – $526.0K
NOI $31,562 @ 7.0% cap · market cap 7.19%
Theoretical Best
Hotel Hospitality
$2.95M
$2.58M – $3.44M
NOI $206,682 @ 7.0% cap · market cap 47.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
600
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
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 - Corner-lot property offers fenced outdoor areas, covered parking, and kitchens equipped with major appliances.
Where is this quadplex located?
The property is located at 1015 Starr Street Mercedes, TX.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: 3,920‑square‑foot quadplex built in 2023; Four residences with two- and three‑bedroom layouts; Each unit has 2 full bathrooms and an open‑concept floor plan
