Quadplex with Dedicated Laundry
For Sale
$399,900
1046 Hidalgo Street, Mercedes, TX 78570
MULTI_FAMILY - Mercedes, TX
Property Size3,132 SF
Lot Size0.17 Acres
Price / SF$127.68
Days on Market109
Property Features for 1046 Hidalgo Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
None
Exterior features
Sprinkler System
Fencing
Privacy
Appliances
Electric Water Heater, Tankless Water Heater, Water Heater (Laundry Room), Electric Cooktop, Dishwasher, Disposal, Refrigerator, Stove/Range
Subdivision
Mercedes Original Townsite
Lot features
Corner Lot, Curb & Gutters, Sidewalks, Sprinkler System
Elementary school
Taylor
Middle school
Mercedes Junior High
High school
Mercedes H.S.
Elementary school district
Mercedes ISD
Middle school district
Mercedes ISD
High school district
Mercedes ISD
Directions
Heading east on Expressway 83 exit on Vermont Ave. Head South on Vermont Ave and shortly, turn right and head West on Hidalgo St. Property will be to your left hand side on the corner of Hidalgo St & Colorado Ave.
Standard status
Active
APN
234512
Size
3,132 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8436
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2023
Floors in Building
1
Number of units
4
Building materials
HardiPlank Type
Roof type
Composition
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Arasely Esquivel · License #0636199
(956) 688-0631
Added: May 12
Changed: Jul 30
Last Checked: Aug 28 at 10:06AM
MLS# 504220
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 2023-built quadplex features four residential units with a mix of two-bedroom/two-bath layouts and one-bedroom/one-bath layouts. Each unit includes a dedicated laundry area and a private backyard. Interiors are described with wood-look tile flooring, quartz countertops, and modern fixtures, with kitchen appliances included. The exterior features a sprinkler system, privacy fencing, and a composition roof.
The property is served by public water and is heated and cooled with central systems. Appliances noted include an electric cooktop, dishwasher, disposal, refrigerator, and stove/range, along with electric and tankless water heater options.
With central heating and central air for comfort across the units, this quadplex provides a self-contained residential setup with outdoor space for each tenant.
The property is served by public water and is heated and cooled with central systems. Appliances noted include an electric cooktop, dishwasher, disposal, refrigerator, and stove/range, along with electric and tankless water heater options.
With central heating and central air for comfort across the units, this quadplex provides a self-contained residential setup with outdoor space for each tenant.
Key Highlights
- 2023‑built quadplex with four units
- Two‑bedroom/two‑bath and one‑bedroom/one‑bath unit mix
- Each unit includes a dedicated laundry area and 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 - 2023-built quadplex with central HVAC, privacy fencing, and each unit offering a dedicated laundry area and private backyard.
Where is this quadplex located?
The property is located at 1046 Hidalgo Street 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: 2023‑built quadplex with four units; Two‑bedroom/two‑bath and one‑bedroom/one‑bath unit mix; Each unit includes a dedicated laundry area and private backyard
