Fourplex With Private
For Sale
$399,900
1046 HIDALGO ST., Mercedes, TX 78570
MULTI_FAMILY - MERCEDES, TX
Property Size3,132 SF
Lot Size0.17 Acres
Price / SF$127.68
Days on Market476
Property Features for 1046 HIDALGO ST.
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
None
Interior features
Ceiling Fan(s), Smoke Alarm(s), Walk-in Closet(s)
Fencing
Privacy
Appliances
Dishwasher, Disposal, Range, Refrigerator
Subdivision
MERCEDES ORIGINAL TOWNSITE
Lot features
Corner Lot, Curb & Gutter, Sprinklers In Front, Sprinklers In Rear
Elementary school
TAYLOR
Middle school
MERCEDES
High school
MERCEDES
Elementary school district
MERCEDES I.S.D.
Middle school district
MERCEDES I.S.D.
High school district
MERCEDES I.S.D.
Standard status
Active
Size
3,132 SF
Lot size
0.17 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
wood-look tile flooring
quartz countertops
modern elegant fixtures
dedicated laundry area
private backyard
kitchen appliances included
Building Details
Year built
2023
Floors in Building
1
Number of units
4
Flooring type
Tile
Listing Agency:
EXP Realty, LLC
(888) 519-7431
Listed By:
Arasely Esquivel · License #0636199
(956) 688-0631
Added: May 12, 2025
Changed: Aug 3
Last Checked: Aug 30 at 12:06PM
MLS# 29765169
Copyright © 2026 Rio Grande Valley Multiple Listing Service Inc. 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 fourplex built in 2023 offers two units with two bedrooms and two bathrooms and two units with one bedroom and one bathroom. Each unit includes kitchen appliances and a dedicated laundry area, plus a private backyard for outdoor space. Interior features include ceiling fans, smoke alarms, and walk-in closets, with tile flooring throughout. The kitchens include a dishwasher, disposal, range, and refrigerator.
The property has public water service and public sewer, with central electric heating and central air cooling. A privacy fence is also in place. There is no on-site parking noted.
The layout is designed to support comfortable tenant living across all four units, with the unit mix providing flexibility for leasing.
The property has public water service and public sewer, with central electric heating and central air cooling. A privacy fence is also in place. There is no on-site parking noted.
The layout is designed to support comfortable tenant living across all four units, with the unit mix providing flexibility for leasing.
Key Highlights
- Built in 2023 fourplex with two 2‑bed/2‑bath units and two 1‑bed/1‑bath units
- Kitchen appliances included: dishwasher, disposal, range, and refrigerator
- Each unit has a dedicated laundry area and a private backyard
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
$27,389
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
6.85%
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%
$547,780
$547.8K
Cap Rate 7%
$391,271
$391.3K
Cap Rate 9%
$304,322
$304.3K
Market Conditions
NOI Build-Up for 3,132 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
$44.0K $14.04/SF
− Vacancy
−$4.8K −$1.55/SF
EGI
$39.1K $12.49/SF
− OpEx
−$11.7K −$3.75/SF
NOI
$27.4K $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%
$547,780
Cap Rate 7%
$391,271
Cap Rate 9%
$304,322
Alternative Uses
Best Use
Multifamily LT 5
$391.3K
$342.4K – $456.5K
NOI $27,389 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$360.2K
$315.2K – $420.3K
NOI $25,217 @ 7.0% cap · market cap 6.31%
Theoretical Best
Hotel Hospitality
$2.36M
$2.06M – $2.75M
NOI $165,135 @ 7.0% cap · market cap 41.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
594
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 - Newer fourplex with central electric HVAC, privacy fencing, and all-appliance-ready units with dedicated laundry areas.
Where is this quadplex located?
The property is located at 1046 HIDALGO ST. Mercedes, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Built in 2023 fourplex with two 2‑bed/2‑bath units and two 1‑bed/1‑bath units; Kitchen appliances included: dishwasher, disposal, range, and refrigerator; Each unit has a dedicated laundry area and a private backyard
