Leased
For Sale
$625,000
1408 W Fig Avenue, Pharr, TX 78577
Residential income property with all four units leased in a community setting.
Property Size5,116 SF
Days on Market49
Property Features for 1408 W Fig Avenue
General Information
Standard status
Active
Size
5,116 SF
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,511
Building Details
Building Size
5,116 SF
Year Built
2008
Listing Agency:
WINNERS CIRCLE
Listed By:
Yessenia Garcia · License #801070826
(956) 250-7453
Source:
Primeluxuryrealestate
Added: Aug 20
Changed: Sep 27
Last Checked: Oct 5 at 9:13PM
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 WINNERS CIRCLE
Investment Insights
Based on property information with market context.
This fourplex contains four residential units and was constructed in 2008. The property is fully leased, providing an occupied residential income asset in Pharr, Texas.
The building is located at 1408 W Fig Avenue. The source information identifies the property as part of a community setting.
The building is located at 1408 W Fig Avenue. The source information identifies the property as part of a community setting.
Key Highlights
- Fourplex with four residential units
- All units are fully leased
- Built in 2008
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,739
Cap Rate
7.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$894,780
$894.8K
Cap Rate 7%
$639,129
$639.1K
Cap Rate 9%
$497,100
$497.1K
Market Conditions
NOI Build-Up for 5,116 SF
Gross rent
$71.8K $14.04/SF
− Vacancy
−$7.9K −$1.55/SF
EGI
$63.9K $12.49/SF
− OpEx
−$19.2K −$3.75/SF
NOI
$44.7K $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 Rate 5%
$894,780
Cap Rate 7%
$639,129
Cap Rate 9%
$497,100
Alternative Uses
Best Use
Multifamily LT 5
$639.1K
$559.2K – $745.7K
NOI $44,739 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$588.4K
$514.9K – $686.5K
NOI $41,191 @ 7.0% cap · market cap 6.59%
Theoretical Best
Hotel Hospitality
$3.85M
$3.37M – $4.50M
NOI $269,741 @ 7.0% cap · market cap 43.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
329
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with all four units leased in a community setting.
Where is this quadplex located?
The property is located at 1408 W Fig Avenue Pharr, TX.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Fourplex with four residential units; All units are fully leased; Built in 2008
