Fully Leased 4plex in Gated
For Sale
$380,000
3904 Sheraton Avenue, Pharr, TX 78577
MULTI_FAMILY - Pharr, TX
Property Size3,942 SF
Lot Size0.21 Acres
Price / SF$96.40
Days on Market17
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
Floor Furnace, Central, Electric (Heating)
Cooling system
Electric, Central Air
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: Jul 30
Last Checked: Aug 12 at 3:06AM
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.
Fully leased 4plex designed for residential income, with exterior finished in stucco and a composition roof. The property includes a garage for parking, a patio, and privacy fencing, with mature trees providing additional curb appeal. The home is served by public water.
Indoor comfort is supported by central air conditioning and electric heating, along with a floor furnace and central electric (heating). Appliances included are an electric water heater, refrigerator, washer, dryer, and a stove/range-electric coil.
Set on a 0.2129-acre lot and totaling 3,942 square feet, the community is described as gated and located close to everyday needs. Please note that showings are not available until an offer is accepted, and tenants should not be disturbed.
Indoor comfort is supported by central air conditioning and electric heating, along with a floor furnace and central electric (heating). Appliances included are an electric water heater, refrigerator, washer, dryer, and a stove/range-electric coil.
Set on a 0.2129-acre lot and totaling 3,942 square feet, the community is described as gated and located close to everyday needs. Please note that showings are not available until an offer is accepted, and tenants should not be disturbed.
Key Highlights
- Fully leased 4plex in a gated community
- 3,942 SF residential income property
- 0.2129‑acre lot
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
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
83
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 - Fully leased 4plex within a gated community, with garage parking, patio, 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: Fully leased 4plex in a gated community; 3,942 SF residential income property; 0.2129‑acre lot
