4-Unit
New
For Sale
$599,000
1174 N Central Ave., Brownsville, TX 78521
Residential Income, Brownsville, TX
Property Size4,360 SF
Lot Size0.17 Acres
Price / SF$137.39
Days on Market4
Property Features for 1174 N Central Ave.
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R
Bedrooms
8
Bathrooms
8
Full bathrooms
4
Half bathrooms
4
Rooms
Bedroom 2, Bathroom 8, Bathroom 5, Bathroom 3, Bathroom 1, Bedroom 5, Bedroom 7, Bedroom 8, Bedroom 3, Bedroom 4, Bathroom 7, Bathroom 2, Bedroom 1, Bathroom 4, Bathroom 6, Bedroom 6
Parking features
Assigned, Driveway
Patio and Porch features
Patio
Pets allowed
No
Interior features
Cabinets-Custom, Ceiling Fan(s), Smoke Detector, Unfurnished, Walk-in Closet, Washer/Dryer Hook-up
Exterior features
Gutters, Patio, Sprinkler System
Appliances
Microwave, Refrigerator, Stove, Washer/Dryer
Subdivision
Alamo Heights
Elementary school district
Brownsville ISD
Middle school district
Brownsville ISD
High school district
Brownsville ISD
Standard status
Active
Size
4,360 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5277
Building Details
Year built
2021
Floors in Building
2
Number of units
4
Flooring type
Tile
Roof type
Composition
Listing Agency:
RE/MAX Elite · RE/MAX International
(956) 433-5648
Listed By:
Vanessa Alaniz · License #772079
(512) 573-2010
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 3 at 6:06AM
MLS# 106852
Copyright © 2026 South Padre Island Board 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.
Built in 2021, this four-unit property contains 4,360 square feet on a 0.17-acre lot. The units are reported as fully occupied. Interior features include tile flooring, ceiling fans, custom cabinets, walk-in closets, smoke detectors, and washer/dryer hookups. Appliances include a microwave, refrigerator, stove, and washer/dryer. Exterior features include patios, gutters, and a sprinkler system.
Located at 1174 N Central Ave. in Brownsville, the property is zoned R. The building has four electric meters and one water meter.
Located at 1174 N Central Ave. in Brownsville, the property is zoned R. The building has four electric meters and one water meter.
Key Highlights
- Four‑unit property with 4,360 square feet
- 0.17‑acre lot
- Built in 2021
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
$35,971
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
6.01%
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%
$719,420
$719.4K
Cap Rate 7%
$513,871
$513.9K
Cap Rate 9%
$399,678
$399.7K
Market Conditions
NOI Build-Up for 4,360 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
$54.9K $12.60/SF
− Vacancy
−$3.5K −$0.81/SF
EGI
$51.4K $11.79/SF
− OpEx
−$15.4K −$3.54/SF
NOI
$36.0K $8.25/SF
Area
Brownsville, 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 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%
$719,420
Cap Rate 7%
$513,871
Cap Rate 9%
$399,678
Alternative Uses
Best Use
Multifamily LT 5
$513.9K
$449.6K – $599.5K
NOI $35,971 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$471.3K
$412.4K – $549.8K
NOI $32,988 @ 7.0% cap · market cap 5.51%
Theoretical Best
Healthcare Medical
$750.7K
$656.9K – $875.8K
NOI $52,550 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
Explore this area
Business Placement
Demographics for 78521, TX
88,708
Population
29,576
Households
3
Avg Household Size
32
Median Age
15%
College-Educated
62%
High-School Grad
93.7 sq mi
ZIP Area
947
Density / Sq Mi
$41,276
Median Household Income
$24,781
Median Earnings
$864
Median Rent
$90,500
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - The property is fully occupied, with four electric meters and one water meter.
Where is this quadplex located?
The property is located at 1174 N Central Ave. Brownsville, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Four‑unit property with 4,360 square feet; 0.17‑acre lot; Built in 2021
