Gated Community Four-Plex For
For Sale
$365,000
2216 North Dahlia Street, Pharr, TX 78577
Four identical units, each with 2 bedrooms and 2 bathrooms.
Property Size3,744 SF
Price / SF$97.49
Days on Market214
Property Features for 2216 North Dahlia Street
General Information
Standard status
Active
Size
3,744 SF
Property subtype
Residential Income / Quadruplex
Taxes and HOA fees
Annual Taxes
$9,076
Amenities
Central Air, Electric
Central, Electric, Yes
Tile
Electric Water Heater, Water Heater (Programmable thermostat), Electric Cooktop, Dryer, Refrigerator, Stove/Range, Washer
Yes
Laundry Closet, Washer/Dryer Connection
Ceiling Fan(s)
Slab
No
Composition Shingle
Privacy, Wood
Outbuilding (None)
Sprinkler System
Smoke Detector(s)
2
Property Owners' Assoc.
Brick
Patio Slab
Building Details
Year Built
2005
Listing Agency:
Keller Williams Realty Rgv
(956) 821-9990
Listed By:
Maggie Harris · License #TREC#0530155
(956) 821-9990
Source:
Compass
Added: Jan 27
Changed: Aug 27
Last Checked: Aug 28 at 4:34PM
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 Keller Williams Realty Rgv
Investment Insights
Based on property information with market context.
This four-plex is located in a secure gated community and offers an opportunity for multi-family living. The property consists of four identical units, each featuring 2 bedrooms and 2 bathrooms, along with private entrances. Each unit includes a modern kitchen with granite countertops, as well as a washer and dryer. The property is conveniently located near the expressway, providing access to other areas. The building has a total size of 3744 square feet. A new roof was installed in 2024. This property is suitable for investors looking to capitalize on a high-demand rental market or families seeking a shared living arrangement.
Key Highlights
- Located in a secure gated community.
- Each unit has 2 bedrooms and 2 bathrooms.
- Four identical units, ideal for multi‑family living or investment.
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
$32,741
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
8.97%
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%
$654,820
$654.8K
Cap Rate 7%
$467,729
$467.7K
Cap Rate 9%
$363,789
$363.8K
Market Conditions
NOI Build-Up for 3,744 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
$52.6K $14.04/SF
− Vacancy
−$5.8K −$1.55/SF
EGI
$46.8K $12.49/SF
− OpEx
−$14.0K −$3.75/SF
NOI
$32.7K $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 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%
$654,820
Cap Rate 7%
$467,729
Cap Rate 9%
$363,789
Alternative Uses
Best Use
Multifamily LT 5
$467.7K
$409.3K – $545.7K
NOI $32,741 @ 7.0% cap · market cap 8.97%
Second Best
Apartment 5plus
$430.6K
$376.8K – $502.4K
NOI $30,145 @ 7.0% cap · market cap 8.26%
Theoretical Best
Hotel Hospitality
$2.82M
$2.47M – $3.29M
NOI $197,402 @ 7.0% cap · market cap 54.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
507
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 identical units, each with 2 bedrooms and 2 bathrooms.
Where is this quadplex located?
The property is located at 2216 North Dahlia Street Pharr, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Located in a secure gated community.; Each unit has 2 bedrooms and 2 bathrooms.; Four identical units, ideal for multi‑family living or investment.
