Well-Maintained Fourplex in Gated
For Sale
$495,000
4904 North Hiawatha Drive, Pharr, TX 78577
Fourplex with spacious units in a desirable Pharr, TX location.
Property Size4,172 SF
Price / SF$118.65
Days on Market175
Property Features for 4904 North Hiawatha Drive
General Information
Standard status
Active
Size
4,172 SF
Property subtype
Residential Income / Quadruplex
Taxes and HOA fees
Annual Taxes
$12,773
Amenities
Central Air, Electric
Central, Electric, Yes
Tile
Electric Water Heater, Water Heater (Laundry Room), Microwave, Refrigerator, Stove/Range-Electric Smooth
Yes
Laundry Closet, Washer/Dryer Connection
Ceiling Fan(s), Decorative/High Ceilings, Split Bedrooms
Slab
No
Composition Shingle
Wood
Energy Features (Double Pane Windows)
Outbuilding (None)
Sprinkler System
Smoke Detector(s)
2
Property Owners' Assoc.
Brick, Stone
Patio
Building Details
Year Built
2022
Listing Agency:
Star Realty Group, Llc
(956) 929-9494
Listed By:
Leo Guerrero · License #TREC#0531764
(956) 929-9494
Source:
Compass
Added: Mar 8
Changed: Aug 27
Last Checked: Aug 29 at 3:50PM
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 Star Realty Group, Llc
Investment Insights
Based on property information with market context.
This well-maintained fourplex is located in the West Ridge Estates subdivision in Pharr, TX. Each unit features 3 bedrooms, 2 full bathrooms, and a generously sized backyard. The property is located in a gated community and is within minutes of the Expressway, schools, retail areas, and restaurants. The property size is 4172 square feet, presenting an investment opportunity.
Key Highlights
- Fourplex: Excellent investment opportunity.
- Located in desirable West Ridge Estates subdivision in Pharr, TX.
- Each unit has 3 bedrooms and 2 full 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
$36,484
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
7.37%
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%
$729,680
$729.7K
Cap Rate 7%
$521,200
$521.2K
Cap Rate 9%
$405,378
$405.4K
Market Conditions
NOI Build-Up for 4,172 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
$58.6K $14.04/SF
− Vacancy
−$6.5K −$1.55/SF
EGI
$52.1K $12.49/SF
− OpEx
−$15.6K −$3.75/SF
NOI
$36.5K $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%
$729,680
Cap Rate 7%
$521,200
Cap Rate 9%
$405,378
Alternative Uses
Best Use
Multifamily LT 5
$521.2K
$456.1K – $608.1K
NOI $36,484 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$479.9K
$419.9K – $559.9K
NOI $33,591 @ 7.0% cap · market cap 6.79%
Theoretical Best
Hotel Hospitality
$3.14M
$2.75M – $3.67M
NOI $219,969 @ 7.0% cap · market cap 44.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
315
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex with spacious units in a desirable Pharr, TX location.
Where is this quadplex located?
The property is located at 4904 North Hiawatha Drive Pharr, TX.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Fourplex: Excellent investment opportunity.; Located in desirable West Ridge Estates subdivision in Pharr, TX.; Each unit has **3 bedrooms and 2 full bathrooms**.
