Brand-New Four-Unit
For Sale
$525,000
849 Deluxe Street, Alamo, TX 78589
Residential Income, Alamo, TX
Property Size5,179 SF
Lot Size0.38 Acres
Price / SF$101.37
Days on Market53
Property Features for 849 Deluxe Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
Other
Patio and Porch features
Patio
Exterior features
Sprinkler System
Appliances
Electric Water Heater, Dryer, Microwave, Refrigerator, Stove/Range, Washer
Subdivision
The Heights At Alamo
Lot features
Curb & Gutters, Sidewalks
Elementary school
Guerra
Middle school
Alamo
High school
PSJA Memorial H.S.
Elementary school district
PSJA ISD
Middle school district
PSJA ISD
High school district
PSJA ISD
Directions
From the expressway go north on Alamo Rd. right before 495 turn left. then turn left on the first street. Go all the way to the end and the property will be on your right hand side (west)
Standard status
Active
APN
H196300000001000
Size
5,179 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
1
HOA Fee
$650 Annually
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Amenities
metal carports
kitchen appliances
Building Details
Year built
2024
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Composition
Listing Agency:
SANETI Realty Group
(956) 833-1850
Listed By:
Claudia Hortencia Perez Maldonado · License #801071291
(956) 332-0777
Added: Jul 18
Changed: Sep 7
Last Checked: Sep 8 at 11:06PM
MLS# 492005
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.
Completed in 2024, this 5,179-square-foot quadplex contains four three-bedroom, two-bath units. All units are fully leased and feature stucco exteriors, tile flooring, quartz countertops, contemporary fixtures, patios, and metal carports. Each apartment includes a stove/range, refrigerator, microwave, washer, and dryer. The property is served by public water and has electric heating and cooling, a composition roof, and an on-site sprinkler system.
The 0.3765-acre property is located near Expressway 83 in Alamo, Texas, with restaurants, shopping, and schools in the surrounding area. Its four-unit layout, recent construction, and completed interior finishes provide a clearly defined multifamily configuration.
The 0.3765-acre property is located near Expressway 83 in Alamo, Texas, with restaurants, shopping, and schools in the surrounding area. Its four-unit layout, recent construction, and completed interior finishes provide a clearly defined multifamily configuration.
Key Highlights
- Four 3‑bedroom, 2‑bath units totaling 5,179 square feet
- Built in 2024 with all four units fully leased
- 0.3765‑acre site near Expressway 83 in Alamo
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
$45,290
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
8.63%
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%
$905,800
$905.8K
Cap Rate 7%
$647,000
$647.0K
Cap Rate 9%
$503,222
$503.2K
Market Conditions
NOI Build-Up for 5,179 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
$72.7K $14.04/SF
− Vacancy
−$8.0K −$1.55/SF
EGI
$64.7K $12.49/SF
− OpEx
−$19.4K −$3.75/SF
NOI
$45.3K $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%
$905,800
Cap Rate 7%
$647,000
Cap Rate 9%
$503,222
Alternative Uses
Best Use
Multifamily LT 5
$647.0K
$566.1K – $754.8K
NOI $45,290 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$595.7K
$521.2K – $695.0K
NOI $41,699 @ 7.0% cap · market cap 7.94%
Theoretical Best
Hotel Hospitality
$3.90M
$3.41M – $4.55M
NOI $273,063 @ 7.0% cap · market cap 52.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
Explore this area
Business Placement
Demographics for 78589, TX
38,987
Population
12,393
Households
3.1
Avg Household Size
32
Median Age
13%
College-Educated
62%
High-School Grad
25.5 sq mi
ZIP Area
1,529
Density / Sq Mi
$51,662
Median Household Income
$27,679
Median Earnings
$926
Median Rent
$112,400
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 four-unit property with modern finishes, complete kitchen appliances, and covered vehicle parking.
Where is this quadplex located?
The property is located at 849 Deluxe Street Alamo, TX.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Four 3‑bedroom, 2‑bath units totaling 5,179 square feet; Built in 2024 with all four units fully leased; 0.3765‑acre site near Expressway 83 in Alamo
