New Alton 4-Plex
For Sale
Contact for pricing
901 N Maryland Street, Alton, TX 78573
New 4-plex in Alton, TX, built in 2023.
Property Size4,244 SF
Price / SF$117.34
Days on Market713
Property Features for 901 N Maryland Street
General Information
Standard status
Active
Size
4,244 SF
Class
A
Property subtype
Multifamily
Building Details
Year Built
2023
Listing Agency:
The Agency Austin, LLC
(956) 606-4688
Listed By:
Myra Caridad Garcia · License #719556
Source:
Crexi
Added: Sep 18, 2024
Changed: Aug 31
Last Checked: May 12 at 10:01PM
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 The Agency Austin, LLC
Investment Insights
Based on property information with market context.
This newly constructed 4-plex, built in 2023, presents an investment opportunity in Alton, TX. The property contains four units, three of which are currently leased. Each unit features 3 bedrooms and 2 baths, along with granite countertops and tile flooring. Each unit also includes a private backyard area and two covered parking spaces. The property is located near restaurants, shopping, and schools. The property size is 4,244 square feet.
Key Highlights
- Newly constructed in 2023: Modern property, minimal maintenance concerns.
- Four units, three currently leased: Immediate rental income stream.
- Each unit features 3 bedrooms, 2 baths: Desirable layout for renters.
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
$37,114
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
7.45%
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%
$742,280
$742.3K
Cap Rate 7%
$530,200
$530.2K
Cap Rate 9%
$412,378
$412.4K
Market Conditions
NOI Build-Up for 4,244 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
$59.6K $14.04/SF
− Vacancy
−$6.6K −$1.55/SF
EGI
$53.0K $12.49/SF
− OpEx
−$15.9K −$3.75/SF
NOI
$37.1K $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%
$742,280
Cap Rate 7%
$530,200
Cap Rate 9%
$412,378
Alternative Uses
Best Use
Multifamily LT 5
$530.2K
$463.9K – $618.6K
NOI $37,114 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$488.1K
$427.1K – $569.5K
NOI $34,170 @ 7.0% cap · market cap 6.86%
Theoretical Best
Hotel Hospitality
$3.20M
$2.80M – $3.73M
NOI $223,765 @ 7.0% cap · market cap 44.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
822
Businesses Nearby
Explore this area
Business Placement
Demographics for 78573, TX
42,229
Population
13,339
Households
3.2
Avg Household Size
29
Median Age
15%
College-Educated
63%
High-School Grad
36.7 sq mi
ZIP Area
1,151
Density / Sq Mi
$51,185
Median Household Income
$27,730
Median Earnings
$909
Median Rent
$154,800
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 - New 4-plex in Alton, TX, built in 2023.
Where is this quadplex located?
The property is located at 901 N Maryland Street Alton, TX.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: Newly constructed in 2023: Modern property, minimal maintenance concerns.; Four units, three currently leased: Immediate rental income stream.; Each unit features 3 bedrooms, 2 baths: Desirable layout for renters.
