4-Unit Quadplex with Covered
New
For Sale
$396,000
2205 N Erica Street, Pharr, TX 78577
All four residences have two bedrooms, two bathrooms, and individual utility meters.
Property Size3,640 SF
Price / SF$108.79
Days on Market2
Property Features for 2205 N Erica Street
General Information
Standard status
Active
Size
3,640 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Individually Metered Utilities
unspecified utilities
Additional Details
Highway Access
Yes
Tenant in Place
Yes
Building Details
Year Built
2004
Buildings
1
Listing Agency:
SANETI REALTY GROUP
Listed By:
Alberto Sanchez
(956) 215-1125
Source:
Sanetirealty
Added: Nov 1
Last Checked: Nov 1 at 1:46AM
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.
At 2205 N Erica Street in Pharr, this 3,640-square-foot quadplex contains four units, each with a two-bedroom, two-bathroom layout. The building dates to 2004 and has covered parking and open-plan interiors. Each unit is separately metered.
Shopping centers and schools are nearby, and the property offers access to an expressway.
Shopping centers and schools are nearby, and the property offers access to an expressway.
Key Highlights
- Four units, each with 2 bedrooms and 2 bathrooms
- 3,640 square feet across the quadplex
- Individual utility meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,832
Cap Rate
8.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$636,640
$636.6K
Cap Rate 7%
$454,743
$454.7K
Cap Rate 9%
$353,689
$353.7K
Market Conditions
NOI Build-Up for 3,640 SF
Gross rent
$51.1K $14.04/SF
− Vacancy
−$5.6K −$1.55/SF
EGI
$45.5K $12.49/SF
− OpEx
−$13.6K −$3.75/SF
NOI
$31.8K $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%
$636,640
Cap Rate 7%
$454,743
Cap Rate 9%
$353,689
Alternative Uses
Best Use
Multifamily LT 5
$454.7K
$397.9K – $530.5K
NOI $31,832 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$418.7K
$366.3K – $488.5K
NOI $29,307 @ 7.0% cap · market cap 7.40%
Theoretical Best
Hotel Hospitality
$2.74M
$2.40M – $3.20M
NOI $191,919 @ 7.0% cap · market cap 48.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
751
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences have two bedrooms, two bathrooms, and individual utility meters.
Where is this quadplex located?
The property is located at 2205 N Erica Street Pharr, TX.
What is the asking price?
The asking price for this property is $396,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 2 bathrooms; 3,640 square feet across the quadplex; Individual utility meters for each unit
