Appliance-Equipped
New
For Sale
$550,000
1600 W Violet Drive, Pharr, TX 78577
All residences are leased and come with washers, dryers, refrigerators, stoves, and microwaves.
Property Size4,412 SF
Days on Market6
Property Features for 1600 W Violet Drive
General Information
Standard status
Active
Size
4,412 SF
Property subtype
Quadruplex
Occupancy
100%
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,572
Amenities
washer
dryer
refrigerator
stove
microwave
Building Details
Building Size
4,412 SF
Year Built
2024
Tenancy
Multi
Listing Agency:
SANETI Realty Group
Listed By:
Edna Karen Baez · License #734197
(956) 502-0238
Source:
Primeluxuryrealestate
Added: Oct 21
Changed: Oct 25
Last Checked: Oct 25 at 1:28AM
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 SANETI Realty Group
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Investment Insights
Based on property information with market context.
Built in 2024, this four-unit residential property contains four leased apartments, each with two bedrooms and two bathrooms. Every residence includes a washer, dryer, refrigerator, stove, and microwave.
The property is in Pharr, Texas, on Jackson Road between 495 and Sioux Road. It is near Expressway 281, Pharr Town Center, and UT Health RGV Cancer and Surgery Center.
The property is in Pharr, Texas, on Jackson Road between 495 and Sioux Road. It is near Expressway 281, Pharr Town Center, and UT Health RGV Cancer and Surgery Center.
Key Highlights
- Four leased apartments, each configured with 2 bedrooms and 2 bathrooms
- Built in 2024
- Each residence includes a washer, dryer, refrigerator, stove, and microwave
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,583
Cap Rate
7.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$771,660
$771.7K
Cap Rate 7%
$551,186
$551.2K
Cap Rate 9%
$428,700
$428.7K
Market Conditions
NOI Build-Up for 4,412 SF
Gross rent
$61.9K $14.04/SF
− Vacancy
−$6.8K −$1.55/SF
EGI
$55.1K $12.49/SF
− OpEx
−$16.5K −$3.75/SF
NOI
$38.6K $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%
$771,660
Cap Rate 7%
$551,186
Cap Rate 9%
$428,700
Alternative Uses
Best Use
Multifamily LT 5
$551.2K
$482.3K – $643.1K
NOI $38,583 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$507.5K
$444.0K – $592.1K
NOI $35,523 @ 7.0% cap · market cap 6.46%
Theoretical Best
Hotel Hospitality
$3.32M
$2.91M – $3.88M
NOI $232,623 @ 7.0% cap · market cap 42.30%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - All residences are leased and come with washers, dryers, refrigerators, stoves, and microwaves.
Where is this quadplex located?
The property is located at 1600 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: Four leased apartments, each configured with 2 bedrooms and 2 bathrooms; Built in 2024; Each residence includes a washer, dryer, refrigerator, stove, and microwave
