Leased Fourplex with 2BR/2BA
For Sale
$395,000
705 Emerald Drive, Pharr, TX 78577
Fully leased fourplex with four 2-bedroom, 2-bath units in Pharr.
Property Size3,422 SF
Days on Market99
Property Features for 705 Emerald Drive
General Information
Standard status
Active
Size
3,422 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$7,897
Building Details
Building Size
3,422 SF
Year Built
2006
Listing Agency:
Keller Williams Realty RGV
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Source:
Primeluxuryrealestate
Added: Jul 20
Changed: Oct 25
Last Checked: Oct 25 at 12:09AM
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 Keller Williams Realty RGV
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Investment Insights
Based on property information with market context.
This well-positioned fourplex offers four fully leased residential units. Each unit features a 2-bedroom and 2-bathroom layout, supporting an income-focused residential setup.
The property is located in Pharr in a highly accessible area just south of Nolana and east of Sugar Rd, with quick access to retail centers, restaurants, and major roadways.
For buyers seeking a stabilized multifamily investment, this fourplex provides consistent occupancy with uniform unit configurations.
The property is located in Pharr in a highly accessible area just south of Nolana and east of Sugar Rd, with quick access to retail centers, restaurants, and major roadways.
For buyers seeking a stabilized multifamily investment, this fourplex provides consistent occupancy with uniform unit configurations.
Key Highlights
- Well‑positioned 4‑plex in Pharr built in 2006
- Fully leased multifamily investment with four 2‑bedroom, 2‑bath units
- Located just south of Nolana and east of Sugar Rd for convenient access to retail, restaurants, and major roadways
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,925
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$598,500
$598.5K
Cap Rate 7%
$427,500
$427.5K
Cap Rate 9%
$332,500
$332.5K
Market Conditions
NOI Build-Up for 3,422 SF
Gross rent
$48.0K $14.04/SF
− Vacancy
−$5.3K −$1.55/SF
EGI
$42.8K $12.49/SF
− OpEx
−$12.8K −$3.75/SF
NOI
$29.9K $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 Rate 5%
$598,500
Cap Rate 7%
$427,500
Cap Rate 9%
$332,500
Alternative Uses
Best Use
Multifamily LT 5
$427.5K
$374.1K – $498.8K
NOI $29,925 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$393.6K
$344.4K – $459.2K
NOI $27,552 @ 7.0% cap · market cap 6.98%
Theoretical Best
Hotel Hospitality
$2.58M
$2.26M – $3.01M
NOI $180,425 @ 7.0% cap · market cap 45.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
416
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
Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased fourplex with four 2-bedroom, 2-bath units in Pharr.
Where is this quadplex located?
The property is located at 705 Emerald Drive Pharr, TX.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Well‑positioned 4‑plex in Pharr built in 2006; Fully leased multifamily investment with four 2‑bedroom, 2‑bath units; Located just south of Nolana and east of Sugar Rd for convenient access to retail, restaurants, and major roadways
