Four-Unit
For Sale
$465,000
1607 W Omni Avenue, Pharr, TX 78577
MULTI_FAMILY - Pharr, TX
Property Size4,800 SF
Lot Size0.20 Acres
Price / SF$96.88
Days on Market91
Property Features for 1607 W Omni Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
None
Appliances
Electric Water Heater
Subdivision
Jackson South Estates
Lot features
Sidewalks
Elementary school
Palmer
Middle school
Kennedy
High school
Southwest H.S.
Elementary school district
PSJA ISD
Middle school district
PSJA ISD
High school district
PSJA ISD
Directions
Head East on E El Rancho Ave toward S Jackson Rd. Turn right onto S Jackson Rd, left onto Hyatt St., right onto S Sheraton Ave, left onto W Omni Ave - Property located on the left on the corner.
Standard status
Active
APN
J235500000010600
Size
4,800 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11432
HOA Fee
$750 Annually
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2007
Floors in Building
2
Number of units
4
Building materials
Brick, Stone
Roof type
Shingle
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Added: May 13
Changed: Jul 29
Last Checked: Aug 11 at 11:06PM
MLS# 488985
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.
Four-unit, two-story quadplex built in 2007, offering approximately 4,800 square feet of living space on a 0.2025-acre lot. The two outer units feature 3 bedrooms and 2.5 baths, while the two inner units offer 2 bedrooms and 2.5 baths. Construction is brick and stone, with a shingle roof.
The property has central heating and central air conditioning, and includes an electric water heater. Water service is public. The building is located within a gated community in Pharr, Texas, at 1607 W Omni Avenue (Hidalgo County).
Parking is listed as none. Additional building details include electric water heater, public water, and standard central HVAC systems.
The property has central heating and central air conditioning, and includes an electric water heater. Water service is public. The building is located within a gated community in Pharr, Texas, at 1607 W Omni Avenue (Hidalgo County).
Parking is listed as none. Additional building details include electric water heater, public water, and standard central HVAC systems.
Key Highlights
- Four‑unit, two‑story quadplex built in 2007 with approximately 4,800 SF living space
- Outer units: 3 bedrooms and 2.5 baths; inner units: 2 bedrooms and 2.5 baths
- Brick and stone construction with shingle roof
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
$41,976
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
9.03%
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%
$839,520
$839.5K
Cap Rate 7%
$599,657
$599.7K
Cap Rate 9%
$466,400
$466.4K
Market Conditions
NOI Build-Up for 4,800 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
$67.4K $14.04/SF
− Vacancy
−$7.4K −$1.55/SF
EGI
$60.0K $12.49/SF
− OpEx
−$18.0K −$3.75/SF
NOI
$42.0K $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%
$839,520
Cap Rate 7%
$599,657
Cap Rate 9%
$466,400
Alternative Uses
Best Use
Multifamily LT 5
$599.7K
$524.7K – $699.6K
NOI $41,976 @ 7.0% cap · market cap 9.03%
Second Best
Apartment 5plus
$552.1K
$483.1K – $644.1K
NOI $38,647 @ 7.0% cap · market cap 8.31%
Theoretical Best
Hotel Hospitality
$3.62M
$3.16M – $4.22M
NOI $253,080 @ 7.0% cap · market cap 54.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
74
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 - Four-unit, two-story quadplex with central HVAC, brick-and-stone construction, and public water in a gated community.
Where is this quadplex located?
The property is located at 1607 W Omni Avenue Pharr, TX.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Four‑unit, two‑story quadplex built in 2007 with approximately 4,800 SF living space; Outer units: 3 bedrooms and 2.5 baths; inner units: 2 bedrooms and 2.5 baths; Brick and stone construction with shingle roof
