Quadplex in Gated
For Sale
$645,000
1304 E Hibiscus Avenue, McAllen, TX 78501
MULTI_FAMILY - McAllen, TX
Property Size4,216 SF
Lot Size0.24 Acres
Price / SF$152.99
Days on Market83
Property Features for 1304 E Hibiscus Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Garage
Patio and Porch features
Patio
Appliances
Electric Water Heater, Dishwasher, Dryer, Microwave, Refrigerator, Stove/Range-Electric Smooth, Washer
Subdivision
Park Terrace
Lot features
Sidewalks
Elementary school
Milam
Middle school
Cathey
High school
Memorial H.S.
Elementary school district
McAllen ISD
Middle school district
McAllen ISD
High school district
McAllen ISD
Directions
Go west on Nolana Ave. pass McColl Rd. Then turn right on N K Center St. , left on E Hibiscus Ave. Apartments will be on your left side.
Standard status
Active
APN
P375800000000300
Size
4,216 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15242
HOA Fee
$500 Annually
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
in-unit laundry
gated community
stainless steel appliances
Building Details
Year built
2023
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Shingle
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Angela M. Navarrete · License #0713156
(956) 342-0384
Added: Jun 9
Changed: Aug 13
Last Checked: Aug 30 at 9:06AM
MLS# 497888
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 quadplex offers four modern units with a total of 10 beds and 8 baths. The property is built with stucco construction and features a shingle roof. Each unit is equipped with in-unit laundry appliances, including washer and dryer, and a kitchen appliance package that lists a dishwasher, microwave, refrigerator, and electric smooth stove/range.
Designed for comfortable year-round living, heating is provided by electric systems and central heating, with central air conditioning. A patio is included as an outdoor living feature, and parking is available with a garage. The community setting is described as gated, with residents receiving added security.
With public water service and an overall property size of 4,216 square feet, the building was constructed in 2023. The site sits on a 0.2353-acre lot and is located in McAllen, TX.
Designed for comfortable year-round living, heating is provided by electric systems and central heating, with central air conditioning. A patio is included as an outdoor living feature, and parking is available with a garage. The community setting is described as gated, with residents receiving added security.
With public water service and an overall property size of 4,216 square feet, the building was constructed in 2023. The site sits on a 0.2353-acre lot and is located in McAllen, TX.
Key Highlights
- Four modern units totaling 10 beds and 8 baths
- Built in 2023 with stucco construction and a shingle roof
- Central air plus electric heating
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
$38,096
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
5.91%
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%
$761,920
$761.9K
Cap Rate 7%
$544,229
$544.2K
Cap Rate 9%
$423,289
$423.3K
Market Conditions
NOI Build-Up for 4,216 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
$58.2K $13.80/SF
− Vacancy
−$3.8K −$0.89/SF
EGI
$54.4K $12.91/SF
− OpEx
−$16.3K −$3.87/SF
NOI
$38.1K $9.04/SF
Area
McAllen, TX
Vacancy
6.46%
Lease Rate
$13.80 /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%
$761,920
Cap Rate 7%
$544,229
Cap Rate 9%
$423,289
Alternative Uses
Best Use
Multifamily LT 5
$544.2K
$476.2K – $634.9K
NOI $38,096 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$500.1K
$437.6K – $583.5K
NOI $35,010 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$1.14M
$1.00M – $1.34M
NOI $80,138 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
Explore this area
Business Placement
Demographics for 78501, TX
60,817
Population
24,807
Households
2.5
Avg Household Size
37
Median Age
27%
College-Educated
77%
High-School Grad
15.5 sq mi
ZIP Area
3,924
Density / Sq Mi
$49,451
Median Household Income
$29,092
Median Earnings
$943
Median Rent
$149,000
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 - Built in 2023 quadplex with central air, electric heat, and in-unit laundry appliances for tenant convenience.
Where is this quadplex located?
The property is located at 1304 E Hibiscus Avenue McAllen, TX.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Four modern units totaling 10 beds and 8 baths; Built in 2023 with stucco construction and a shingle roof; Central air plus electric heating
