Fourplex with Modern
For Sale
$505,000
2609 E Israel Avenue, Alton, TX 78573
Residential Income, Alton, TX
Property Size4,032 SF
Lot Size0.26 Acres
Price / SF$125.25
Days on Market89
Property Features for 2609 E Israel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
None
Appliances
Electric Water Heater, Dryer, Microwave, Refrigerator, Stove/Range-Electric Coil, Washer
Subdivision
Sunterra
Lot features
Professional Landscaping, Sidewalks, Sprinkler System
Elementary school
Jensen
Middle school
Sharyland North Junior
High school
Sharyland Pioneer H.S.
Elementary school district
Sharyland ISD
Middle school district
Sharyland ISD
High school district
Sharyland ISD
Directions
Heading north on Steward Rd passing Mile 4 1/2, you will se the Sunterra Subdivision sign on your right hand side.
Standard status
Active
APN
S706500000000500
Size
4,032 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12713
HOA Fee
$500 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
Brick
Roof type
Shingle
Listing Agency:
STX Real Estate Group
(956) 400-9697
Listed By:
Gloria Gracia
(956) 655-0551
Added: Jul 1
Changed: Sep 14
Last Checked: Sep 27 at 5:06PM
MLS# 503869
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.
This 4,032-square-foot quadplex contains four residential units, each configured with 3 bedrooms and 2 bathrooms. Built in 2024, the property features open-concept interiors, high decorative ceilings, custom kitchen cabinetry, and brick construction. Kitchen appliances, washers, and dryers are included, while central electric heating and cooling serve the building. The property uses public water and has a shingle roof.
Located at 2609 E Israel Avenue in Alton, the quadplex is within the Sunterra Subdivision and near schools and main roads. The property is already generating rental income and occupies a 0.2649-acre lot. No on-site parking is listed.
Located at 2609 E Israel Avenue in Alton, the quadplex is within the Sunterra Subdivision and near schools and main roads. The property is already generating rental income and occupies a 0.2649-acre lot. No on-site parking is listed.
Key Highlights
- Four‑unit quadplex built in 2024
- 4,032 square feet on a 0.2649‑acre lot
- Each unit includes 3 bedrooms and 2 bathrooms
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
$35,260
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
6.98%
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%
$705,200
$705.2K
Cap Rate 7%
$503,714
$503.7K
Cap Rate 9%
$391,778
$391.8K
Market Conditions
NOI Build-Up for 4,032 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
$56.6K $14.04/SF
− Vacancy
−$6.2K −$1.55/SF
EGI
$50.4K $12.49/SF
− OpEx
−$15.1K −$3.75/SF
NOI
$35.3K $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%
$705,200
Cap Rate 7%
$503,714
Cap Rate 9%
$391,778
Alternative Uses
Best Use
Multifamily LT 5
$503.7K
$440.8K – $587.7K
NOI $35,260 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$463.8K
$405.8K – $541.1K
NOI $32,464 @ 7.0% cap · market cap 6.43%
Theoretical Best
Hotel Hospitality
$3.04M
$2.66M – $3.54M
NOI $212,587 @ 7.0% cap · market cap 42.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 78573, TX
42,229
Population
13,339
Households
3.2
Avg Household Size
29
Median Age
15%
College-Educated
63%
High-School Grad
36.7 sq mi
ZIP Area
1,151
Density / Sq Mi
$51,185
Median Household Income
$27,730
Median Earnings
$909
Median Rent
$154,800
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer three-bedroom, two-bath layouts with included appliances and laundry equipment.
Where is this quadplex located?
The property is located at 2609 E Israel Avenue Alton, TX.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 2024; 4,032 square feet on a 0.2649‑acre lot; Each unit includes 3 bedrooms and 2 bathrooms
