4-Unit Residential
New
For Sale
$350,000
106 W Matz Ave, Harlingen, TX 78550
The unit mix includes three tenant-occupied residences.
Property Size2,968 SF
Lot Size0.40 Acres
Price / SF$117.92
Days on Market5
Property Features for 106 W Matz Ave
General Information
Standard status
Active
Size
2,968 SF
Lot size
0.40 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Individually Metered Utilities
electricity
Additional Details
Utilities to Site
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$1.00
Listing Agency:
Jade Real Estate LLC
(956) 534-7917
Listed By:
Noah Degollado
(956) 279-1361
Source:
Exprealty
Added: Oct 30
Changed: Nov 1
Last Checked: Nov 1 at 4:07PM
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 Jade Real Estate LLC
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Investment Insights
Based on property information with market context.
This 2,968-square-foot quadplex sits on a 0.40-acre parcel and contains four apartments: two with two bedrooms and one bathroom each, and two with one bedroom and one bathroom each. Three units are tenant-occupied. The property has four electric meters and a single water meter.
Key Highlights
- Four apartments totaling 2,968 square feet on a 0.40‑acre lot
- Unit mix: two 2‑bedroom, 1‑bath apartments and two 1‑bedroom, 1‑bath apartments
- Three of the four apartments are tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,487
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$489,740
$489.7K
Cap Rate 7%
$349,814
$349.8K
Cap Rate 9%
$272,078
$272.1K
Market Conditions
NOI Build-Up for 2,968 SF
Gross rent
$37.4K $12.60/SF
− Vacancy
−$2.4K −$0.81/SF
EGI
$35.0K $11.79/SF
− OpEx
−$10.5K −$3.54/SF
NOI
$24.5K $8.25/SF
Area
Cameron County, TX
Vacancy
6.46%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$489,740
Cap Rate 7%
$349,814
Cap Rate 9%
$272,078
Alternative Uses
Best Use
Multifamily LT 5
$349.8K
$306.1K – $408.1K
NOI $24,487 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$320.8K
$280.7K – $374.3K
NOI $22,456 @ 7.0% cap · market cap 6.42%
Theoretical Best
Healthcare Medical
$511.0K
$447.2K – $596.2K
NOI $35,773 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 78550, TX
56,038
Population
22,347
Households
2.5
Avg Household Size
35
Median Age
22%
College-Educated
77%
High-School Grad
94.2 sq mi
ZIP Area
595
Density / Sq Mi
$51,524
Median Household Income
$32,065
Median Earnings
$863
Median Rent
$120,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - The unit mix includes three tenant-occupied residences.
Where is this quadplex located?
The property is located at 106 W Matz Ave Harlingen, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Four apartments totaling 2,968 square feet on a 0.40‑acre lot; Unit mix: two 2‑bedroom, 1‑bath apartments and two 1‑bedroom, 1‑bath apartments; Three of the four apartments are tenant‑occupied
