Remodeled Fourplex
For Sale
Contact for pricing
Pending
303 S Ridge Lane, San Juan, TX 78589
Recently remodeled fourplex with four 2-bedroom, 2-bath units generating $4,120 monthly rent.
Property Size4,154 SF
Days on Market172
Property Features for 303 S Ridge Lane
General Information
Standard status
Pending
Size
4,154 SF
Total Parking Spaces
8
Property subtype
Multifamily
Additional Details
Multifamily Units
4
Building Details
Year Built
2012
Buildings
1
Units
4
Listing Agency:
TNT Real Estate
Listed By:
Samantha Reynoso
(956) 467-4678
Source:
Crexi
Added: Mar 20
Changed: Aug 19
Last Checked: Aug 17 at 11:31AM
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 TNT Real Estate
Investment Insights
Based on property information with market context.
This recently remodeled fourplex features four residential units, and each unit offers 2 bedrooms and 2 bathrooms. The property is currently generating $4,120 in monthly rental income.
Located at 303 S Ridge Lane in San Juan, TX 78589, the property is described as providing convenient access to schools, shopping, dining, and major roadways.
Overall, the recent updates throughout the property are intended to provide a turnkey option with reduced future maintenance concerns for owners seeking an income-producing multifamily asset.
Located at 303 S Ridge Lane in San Juan, TX 78589, the property is described as providing convenient access to schools, shopping, dining, and major roadways.
Overall, the recent updates throughout the property are intended to provide a turnkey option with reduced future maintenance concerns for owners seeking an income-producing multifamily asset.
Key Highlights
- Fourplex built in 2012 with four units, each featuring 2 bedrooms and 2 bathrooms
- Currently generates $4,120 in monthly rental income
- Recently remodeled fourplex with recent updates throughout the property
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
$36,327
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
9.10%
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%
$726,540
$726.5K
Cap Rate 7%
$518,957
$519.0K
Cap Rate 9%
$403,633
$403.6K
Market Conditions
NOI Build-Up for 4,154 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
$58.3K $14.04/SF
− Vacancy
−$6.4K −$1.55/SF
EGI
$51.9K $12.49/SF
− OpEx
−$15.6K −$3.75/SF
NOI
$36.3K $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%
$726,540
Cap Rate 7%
$518,957
Cap Rate 9%
$403,633
Alternative Uses
Best Use
Multifamily LT 5
$519.0K
$454.1K – $605.5K
NOI $36,327 @ 7.0% cap · market cap 9.10%
Second Best
Apartment 5plus
$477.8K
$418.1K – $557.4K
NOI $33,446 @ 7.0% cap · market cap 8.38%
Theoretical Best
Hotel Hospitality
$3.13M
$2.74M – $3.65M
NOI $219,020 @ 7.0% cap · market cap 54.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
Explore this area
Business Placement
Demographics for 78589, TX
38,987
Population
12,393
Households
3.1
Avg Household Size
32
Median Age
13%
College-Educated
62%
High-School Grad
25.5 sq mi
ZIP Area
1,529
Density / Sq Mi
$51,662
Median Household Income
$27,679
Median Earnings
$926
Median Rent
$112,400
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 - Recently remodeled fourplex with four 2-bedroom, 2-bath units generating $4,120 monthly rent.
Where is this quadplex located?
The property is located at 303 S Ridge Lane San Juan, TX.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Fourplex built in 2012 with four units, each featuring 2 bedrooms and 2 bathrooms; Currently generates $4,120 in monthly rental income; Recently remodeled fourplex with recent updates throughout the property
