Four-Unit Quadplex with
New
For Sale
$550,000
1602 W Violet Drive, Pharr, TX 78577
Residential Income, Pharr, TX
Property Size4,412 SF
Lot Size0.32 Acres
Price / SF$124.66
Days on Market2
Property Features for 1602 W Violet Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
Garage
Patio and Porch features
Patio
Exterior features
Manual Gate, Mature Trees, Sprinkler System
Fencing
Gate
Appliances
Tankless Water Heater, Smooth Electric Cooktop, Dryer, Microwave, Refrigerator, Washer
Subdivision
San Diego Crossing
Lot features
Cul-De-Sac, Curb & Gutters, Mature Trees, Sidewalks, Sprinkler System
Elementary school
Ramirez
Middle school
LBJ
High school
PSJA H.S.
Elementary school district
PSJA ISD
Middle school district
PSJA ISD
High school district
PSJA ISD
Directions
Going North on Jackson Rd, pass Ferguson Ave./FM 495 continue North. San Diego Crossings Subdivision will be on the right hand side. From the entry head Esat towards the end of Violet St. 4-plex is the last one on the left, in the cul-de-sac
Standard status
Active
APN
S057000000001600
Size
4,412 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6572
HOA Fee
$1,200 Annually
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2024
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Composition
Listing Agency:
SANETI Realty Group
(956) 833-1850
Listed By:
Edna Karen Baez · License #734197
(956) 703-4180
Added: Oct 15
Last Checked: Oct 16 at 6:06AM
MLS# 517887
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.
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Investment Insights
Based on property information with market context.
Built in 2024, this 4,412-square-foot quadplex contains four residences: two with 2 bedrooms and 2 bathrooms, and two with 3 bedrooms and 2 bathrooms. The property is fully leased. Each unit has a washer, dryer, refrigerator, stove, and microwave. Central electric heating and air conditioning serve the building, and garage parking is provided.
The 0.3176-acre parcel is in Pharr near Expressway 281, Pharr Town Center, and UT Health RGV Cancer and Surgery Center. Site features include a manual gate, mature trees, a sprinkler system, and a patio.
The 0.3176-acre parcel is in Pharr near Expressway 281, Pharr Town Center, and UT Health RGV Cancer and Surgery Center. Site features include a manual gate, mature trees, a sprinkler system, and a patio.
Key Highlights
- Fully leased four‑unit property built in 2024
- Two 2‑bedroom/2‑bathroom units and two 3‑bedroom/2‑bathroom units
- 4,412 square feet on 0.3176 acres
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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Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road 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
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
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence comes equipped with laundry appliances and a refrigerator, stove, and microwave.
Where is this quadplex located?
The property is located at 1602 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: Fully leased four‑unit property built in 2024; Two 2‑bedroom/2‑bathroom units and two 3‑bedroom/2‑bathroom units; 4,412 square feet on 0.3176 acres
