Custom-Built Fourplex
For Sale
$550,000
Pending
1900 W Violet Drive, Pharr, TX 78577
Newly custom-built fourplex with four leased units, including two 3-bedroom and two 2-bedroom layouts.
Property Size4,100 SF
Days on Market36
Property Features for 1900 W Violet Drive
General Information
Standard status
Pending
Size
4,100 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$3,062
Building Details
Building Size
4,100 SF
Year Built
2025
Listing Agency:
BIG Realty
(956) 465-0011
Listed By:
Omar Govea · License #TREC#0737918
Source:
Primeluxuryrealestate
Added: Jul 27
Changed: Aug 25
Last Checked: Aug 29 at 5:01PM
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 BIG Realty
Investment Insights
Based on property information with market context.
Newly custom-built fourplex featuring four well-designed units with private backyards. The property includes two 3-bedroom, 2-bath units and two 2-bedroom, 2-bath units. Each unit offers an open-concept living, dining, and kitchen area, spacious bedrooms, modern finishes, and comes equipped with all kitchen appliances plus a washer and dryer.
The property is located in Pharr and positioned near restaurants, shopping centers, hospitals, and retail.
All units are currently leased, supporting immediate rental income. This turnkey fourplex is offered for sale.
The property is located in Pharr and positioned near restaurants, shopping centers, hospitals, and retail.
All units are currently leased, supporting immediate rental income. This turnkey fourplex is offered for sale.
Key Highlights
- Newly custom‑built fourplex (Year Built: 2025) in Pharr with four leased units
- Unit mix includes two 3‑bedroom, 2‑bath units and two 2‑bedroom, 2‑bath units
- Open‑concept living, dining, and kitchen layout in each unit with modern finishes
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
$35,854
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
6.52%
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%
$717,080
$717.1K
Cap Rate 7%
$512,200
$512.2K
Cap Rate 9%
$398,378
$398.4K
Market Conditions
NOI Build-Up for 4,100 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
$57.6K $14.04/SF
− Vacancy
−$6.3K −$1.55/SF
EGI
$51.2K $12.49/SF
− OpEx
−$15.4K −$3.75/SF
NOI
$35.9K $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%
$717,080
Cap Rate 7%
$512,200
Cap Rate 9%
$398,378
Alternative Uses
Best Use
Multifamily LT 5
$512.2K
$448.2K – $597.6K
NOI $35,854 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$471.6K
$412.6K – $550.2K
NOI $33,011 @ 7.0% cap · market cap 6.00%
Theoretical Best
Hotel Hospitality
$3.09M
$2.70M – $3.60M
NOI $216,173 @ 7.0% cap · market cap 39.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
564
Businesses Nearby
Explore this area
Business Placement
Demographics for 78577, TX
79,937
Population
26,568
Households
3
Avg Household Size
30
Median Age
18%
College-Educated
70%
High-School Grad
26.0 sq mi
ZIP Area
3,075
Density / Sq Mi
$49,768
Median Household Income
$28,186
Median Earnings
$988
Median Rent
$111,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Newly custom-built fourplex with four leased units, including two 3-bedroom and two 2-bedroom layouts.
Where is this quadplex located?
The property is located at 1900 W Violet Drive Pharr, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Newly custom‑built fourplex (Year Built: 2025) in Pharr with four leased units; Unit mix includes two 3‑bedroom, 2‑bath units and two 2‑bedroom, 2‑bath units; Open‑concept living, dining, and kitchen layout in each unit with modern finishes
