New 4-Unit
For Sale
$499,000
1016 Palm Drive, Alamo, TX 78516
Completed modern multifamily property with open-concept interiors, large windows, and contemporary finishes.
Property Size4,312 SF
Days on Market37
Property Features for 1016 Palm Drive
General Information
Standard status
Active
Size
4,312 SF
Total Parking Spaces
8
Property subtype
Multi Family Home
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1.00
Building Details
Building Size
4,312 SF
Year Built
2025
Buildings
2
Stories
1
Units
4
Listing Agency:
Imperio Real Estate LLC
(956) 607-8299
Listed By:
Bryanna Hernandez · License #801070327
(956) 607-8299
Source:
Buyingandsellingmcallen
Added: Jul 25
Changed: Aug 29
Last Checked: Aug 25 at 9:10AM
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 Imperio Real Estate LLC
Investment Insights
Based on property information with market context.
Completed in 2025, this four-unit multifamily property offers a modern configuration designed for residential leasing. Each residence includes three full bedrooms, two bathrooms, an open-concept living arrangement, and large windows that bring natural light into the interiors. Contemporary fixtures and finished surfaces carry the design throughout the units.
The property is located in Alamo near Expressway 83, schools, shopping, and local dining. The completed condition allows the building to be placed into lease-up without ongoing construction work.
The property is located in Alamo near Expressway 83, schools, shopping, and local dining. The completed condition allows the building to be placed into lease-up without ongoing construction work.
Key Highlights
- Four‑unit quadplex completed in 2025
- Each unit includes 3 bedrooms and 2 bathrooms
- Open‑concept layouts with large windows
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
$37,708
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
7.56%
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%
$754,160
$754.2K
Cap Rate 7%
$538,686
$538.7K
Cap Rate 9%
$418,978
$419.0K
Market Conditions
NOI Build-Up for 4,312 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
$60.5K $14.04/SF
− Vacancy
−$6.7K −$1.55/SF
EGI
$53.9K $12.49/SF
− OpEx
−$16.2K −$3.75/SF
NOI
$37.7K $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%
$754,160
Cap Rate 7%
$538,686
Cap Rate 9%
$418,978
Alternative Uses
Best Use
Multifamily LT 5
$538.7K
$471.4K – $628.5K
NOI $37,708 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$496.0K
$434.0K – $578.6K
NOI $34,718 @ 7.0% cap · market cap 6.96%
Theoretical Best
Hotel Hospitality
$3.25M
$2.84M – $3.79M
NOI $227,350 @ 7.0% cap · market cap 45.56%
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
112
Businesses Nearby
Explore this area
Business Placement
Demographics for 78516, TX
34,506
Population
12,469
Households
2.8
Avg Household Size
32
Median Age
12%
College-Educated
59%
High-School Grad
37.8 sq mi
ZIP Area
913
Density / Sq Mi
$51,547
Median Household Income
$26,908
Median Earnings
$743
Median Rent
$102,900
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 - Completed modern multifamily property with open-concept interiors, large windows, and contemporary finishes.
Where is this quadplex located?
The property is located at 1016 Palm Drive Alamo, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Four‑unit quadplex completed in 2025; Each unit includes 3 bedrooms and 2 bathrooms; Open‑concept layouts with large windows
