Fully Leased
For Sale
$267,500
817 E Madison Ave, Harlingen, TX 78550
Two-story multifamily property with four leased residences and tenant parking in Harlingen.
Property Size2,600 SF
Price / SF$102.88
Days on Market64
Property Features for 817 E Madison Ave
General Information
Standard status
Active
Size
2,600 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1984
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
KELLER WILLIAMS LRGV
Listed By:
AUDREY KRUPALA · License #672812
(956) 245-8310
Source:
Accessrealtyrgv
Added: Aug 14
Changed: Oct 2
Last Checked: Oct 7 at 4:49PM
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 LRGV
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Investment Insights
Based on property information with market context.
This two-story quadplex contains four 2-bedroom, 1-bath units within 2,600 square feet. All residences are currently leased, providing an established tenant base across the property. The building was constructed in 1984 and includes six parking spaces for occupants.
Located at 817 E Madison Ave in Harlingen, the property offers a four-unit configuration with existing rental occupancy. Each residence is described as clean and well maintained, supporting continued use as a multifamily rental property.
Located at 817 E Madison Ave in Harlingen, the property offers a four-unit configuration with existing rental occupancy. Each residence is described as clean and well maintained, supporting continued use as a multifamily rental property.
Key Highlights
- Four 2‑bedroom, 1‑bath units, all currently leased
- 2,600‑square‑foot two‑story quadplex
- Six tenant parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,451
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,020
$429.0K
Cap Rate 7%
$306,443
$306.4K
Cap Rate 9%
$238,344
$238.3K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$32.8K $12.60/SF
− Vacancy
−$2.1K −$0.81/SF
EGI
$30.6K $11.79/SF
− OpEx
−$9.2K −$3.54/SF
NOI
$21.5K $8.25/SF
Area
Cameron County, TX
Vacancy
6.46%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,020
Cap Rate 7%
$306,443
Cap Rate 9%
$238,344
Alternative Uses
Best Use
Multifamily LT 5
$306.4K
$268.1K – $357.5K
NOI $21,451 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$281.0K
$245.9K – $327.9K
NOI $19,672 @ 7.0% cap · market cap 7.35%
Theoretical Best
Healthcare Medical
$447.7K
$391.7K – $522.3K
NOI $31,337 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,761
Businesses Nearby
Explore this area
Business Placement
Demographics for 78550, TX
56,038
Population
22,347
Households
2.5
Avg Household Size
35
Median Age
22%
College-Educated
77%
High-School Grad
94.2 sq mi
ZIP Area
595
Density / Sq Mi
$51,524
Median Household Income
$32,065
Median Earnings
$863
Median Rent
$120,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Two-story multifamily property with four leased residences and tenant parking in Harlingen.
Where is this quadplex located?
The property is located at 817 E Madison Ave Harlingen, TX.
What is the asking price?
The asking price for this property is $267,500.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units, all currently leased; 2,600‑square‑foot two‑story quadplex; Six tenant parking spaces
