Gated Community
For Sale
$380,000
3904 Sheraton Avenue, Pharr, TX 78577
Residential Income, Pharr, TX
Property Size3,942 SF
Lot Size0.21 Acres
Price / SF$96.40
Days on Market54
Property Features for 3904 Sheraton Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
Garage
Patio and Porch features
Patio
Exterior features
Mature Trees
Fencing
Privacy
Appliances
Electric Water Heater, Dryer, Refrigerator, Stove/Range-Electric Coil, Washer
Subdivision
Jackson South Estates
Lot features
Curb & Gutters
Elementary school
Palmer
Middle school
Kennedy
High school
PSJA H.S.
Elementary school district
PSJA ISD
Middle school district
PSJA ISD
High school district
PSJA ISD
Directions
Google maps copy & paste: https://maps.app.goo.gl/VyyJXhjnEjmd6ujG6
Standard status
Active
APN
J235500000006500
Size
3,942 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6224
HOA Fee
$450 Annually
Utilities
Heating system
Central, Floor Furnace, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
gated community
Building Details
Year built
2010
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Composition
Listing Agency:
Encore Fine Properties
(956) 821-6170
Listed By:
Berenice Mariel Gonzalez · License #TX-774202
(956) 578-6868
Added: Jul 27
Changed: Sep 14
Last Checked: Sep 18 at 8:06AM
MLS# 510772
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 four-unit residential income property contains 3,942 square feet on a 0.2129-acre lot. The building features stucco construction, composition roofing, central air, electric heating, a garage, patio areas, privacy fencing, and mature trees. Public water service is in place, and the property includes electric water heating along with refrigerators, electric coil ranges, washers, and dryers.
The quadplex is located within a gated community in Pharr, Texas, at 3904 Sheraton Avenue. The property is fully leased and includes on-site garage parking, with exterior features suited to a residential rental setting.
The quadplex is located within a gated community in Pharr, Texas, at 3904 Sheraton Avenue. The property is fully leased and includes on-site garage parking, with exterior features suited to a residential rental setting.
Key Highlights
- Four‑unit property with 3,942 square feet
- Fully leased quadplex in a gated community
- 0.2129‑acre lot at 3904 Sheraton Avenue, Pharr, TX 78577
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
$34,473
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
9.07%
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%
$689,460
$689.5K
Cap Rate 7%
$492,471
$492.5K
Cap Rate 9%
$383,033
$383.0K
Market Conditions
NOI Build-Up for 3,942 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
$55.3K $14.04/SF
− Vacancy
−$6.1K −$1.55/SF
EGI
$49.2K $12.49/SF
− OpEx
−$14.8K −$3.75/SF
NOI
$34.5K $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%
$689,460
Cap Rate 7%
$492,471
Cap Rate 9%
$383,033
Alternative Uses
Best Use
Multifamily LT 5
$492.5K
$430.9K – $574.6K
NOI $34,473 @ 7.0% cap · market cap 9.07%
Second Best
Apartment 5plus
$453.4K
$396.7K – $529.0K
NOI $31,739 @ 7.0% cap · market cap 8.35%
Theoretical Best
Hotel Hospitality
$2.97M
$2.60M – $3.46M
NOI $207,842 @ 7.0% cap · market cap 54.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
62
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased four-unit property with garage parking, patio space, and privacy fencing.
Where is this quadplex located?
The property is located at 3904 Sheraton Avenue Pharr, TX.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Four‑unit property with 3,942 square feet; Fully leased quadplex in a gated community; 0.2129‑acre lot at 3904 Sheraton Avenue, Pharr, TX 78577
