Apartment Building with
For Sale
$359,000
808 Bronze Dr, Pharr, TX 78577
Multifamily property with two-bedroom residences, private fenced yards, and individually metered utilities.
Property Size3,640 SF
Price / SF$98.63
Days on Market29
Property Features for 808 Bronze Dr
General Information
Standard status
Active
Size
3,640 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$7,883
Amenities
washer and dryer
fenced yard
Listing Agency:
TNT Real Estate
(956) 821-9589
Listed By:
Mona Young Kim
(956) 821-9589
Source:
Exprealty
Added: Aug 2
Changed: Aug 20
Last Checked: Aug 29 at 2:51PM
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 apartment property includes residences configured with two bedrooms and two baths, with approximately 910 square feet per unit according to HCAD. Interior features include tile flooring, closet laundry, and kitchens equipped with a stove/oven, refrigerator, washer, and dryer. Each residence also has a fenced yard and a two-car carport.
Utilities are separately metered, with 5 water meters and 5 electric meters serving the property. The building is located near the 281 Expressway/69 interchange and the Sugar and Nolana area, with shopping, restaurants, and banking nearby.
Utilities are separately metered, with 5 water meters and 5 electric meters serving the property. The building is located near the 281 Expressway/69 interchange and the Sugar and Nolana area, with shopping, restaurants, and banking nearby.
Key Highlights
- Approximately 910 square feet per unit, per HCAD
- Each unit offers 2 bedrooms and 2 baths
- Two‑car carport assigned to each unit
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
$29,307
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
8.16%
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%
$586,140
$586.1K
Cap Rate 7%
$418,671
$418.7K
Cap Rate 9%
$325,633
$325.6K
Market Conditions
NOI Build-Up for 3,640 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
$60.3K $16.56/SF
− Vacancy
−$7.0K −$1.92/SF
EGI
$53.3K $14.64/SF
− OpEx
−$24.0K −$6.59/SF
NOI
$29.3K $8.05/SF
Area
Hidalgo County, TX
Vacancy
11.60%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
45.00%
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%
$586,140
Cap Rate 7%
$418,671
Cap Rate 9%
$325,633
Alternative Uses
Best Use
Apartment 5plus
$418.7K
$366.3K – $488.5K
NOI $29,307 @ 7.0% cap · market cap 8.16%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$2.74M
$2.40M – $3.20M
NOI $191,919 @ 7.0% cap · market cap 53.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
419
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?
Apartment building - Multifamily property with two-bedroom residences, private fenced yards, and individually metered utilities.
Where is this apartment building located?
The property is located at 808 Bronze Dr Pharr, TX.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Approximately 910 square feet per unit, per HCAD; Each unit offers 2 bedrooms and 2 baths; Two‑car carport assigned to each unit
