Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    301 Rdg Ave Pharr, TX 78577
    Back to Search
    Property profile & analytics

    301 Rdg Ave Pharr, TX 78577

    View on Map
    • Apartment buildings
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 301 Rdg Ave

    Year built
    2006
    Property type
    Apartment buildings
    Property subtype
    Small apartment buildings

    Description

    This exceptional investment opportunity presents a well-maintained four-unit apartment building located at 301 S Ridge Avenue, Pharr, Texas, 78577. The property, built in 2006, sits on a substantial 11,464.99 square foot lot and comprises two buildings. Each of the four units boasts two bedrooms and two bathrooms, providing comfortable living spaces for tenants. All units are currently occupied, generating immediate rental income for the new owner. The property's strong occupancy rate speaks to its desirability and potential for continued profitability. Each unit is equipped with essential appliances, including a refrigerator, stove, washer, and dryer, adding to its tenant appeal and minimizing maintenance concerns. This turnkey investment is ideal for those seeking a stable, income-producing asset in a growing market. The property's location in Pharr, Hidalgo County, offers convenient access to local amenities and transportation routes. This is a rare opportunity to acquire a well-maintained, fully occupied multifamily property with significant potential for long-term growth and return on investment. The asking price is $389,900.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pharr
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.1836216
    Latitude
    26.1947962

    Comparable in this City

    • Value Estimation by Request
      3,692 SF

      1208 Diplomat Dr

      Multifamily properties • 3,692 SF
      1208 Diplomat Dr, Pharr, TX 78577
      View Details
    • Value Estimation by Request

      1503 Pamplona St

      Multifamily properties
      1503 Pamplona St, Pharr, TX 78577
      View Details
    • Value Estimation by Request

      1901 Violet Dr

      Multifamily properties
      1901 Violet Dr, Pharr, TX 78577
      View Details
    • Value Estimation by Request

      1804 Violet Dr

      Multifamily properties
      1804 Violet Dr, Pharr, TX 78577
      View Details
    • Value Estimation by Request
      4,100 SF

      1907 Violet Dr

      Multifamily properties • 4,100 SF
      1907 Violet Dr, Pharr, TX 78577
      View Details
    • Value Estimation by Request

      1705 Violet Dr

      Multifamily properties
      1705 Violet Dr, Pharr, TX 78577
      View Details

    Similar Nearby for Sale

    • $7,023,000
      15.73 Acres

      Prime Pharr Multifamily Land

      15.73-acre multifamily development opportunity.
      1205 Nolana Loop, Pharr, TX 78577
      View Details
    • $1,700,000
      16,080 SF

      Pharr Multifamily Investment Opportunity

      Income-producing property with 14 units in a high-demand area.
      3001 Ashley Pl, Pharr, TX 78577
      View Details
    • $760,000
      7,998 SF

      Leased Apartment Complex in Pharr

      Fully leased 9-unit apartment complex with upside potential.
      8005 Cisne St, Pharr, TX 78577
      View Details
    • $1,295,000
      11,152 SF

      Modern Multifamily Investment Opportunity

      Turn-key multifamily property with 10 units in prime location.
      1312 W Kennedy St, Pharr, TX 78577
      View Details
    • $675,000
      5,813 SF

      Gated Multifamily Property in Pharr

      Six-unit rental property in gated community, South Pharr, Texas.
      3904 S Radisson Ave, Pharr, TX 78577
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      24,787 SF

      Prime Pharr Medical Office Space

      Two Suites Available, High Visibility, Excellent Location
      1002 Sam Houston Blvd, Pharr, TX 78577
      View Details
    • $18 SF/Yr
      2,093 SF

      Pharr, TX Commercial Space Available

      Prime location, versatile space, ample parking.
      2506 Cage Blvd, Pharr, TX 78577
      View Details
    • Contact for pricing

      Professional Plaza Office Space Available

      Office suites for professional use in Pharr, Texas.
      1313 W Polk Ave, Pharr, TX 78577
      View Details
    • $8 SF/Yr

      Pharr Industrial Park Warehouse

      Industrial warehouse space in Pharr's Opportunity Zone.
      S San Juan Rd, Pharr, TX 78577
      View Details
    • Contact for pricing
      130,000 SF

      Pharr Industrial Park Distribution Space

      Premier industrial park near Pharr International Trade Bridge.
      Hi-Line Rd, Pharr, TX 78577
      View Details
    • $0.74 SF/Yr

      New Class A Warehouse in Pharr

      75,000 SF Class A warehouse near Pharr International Bridge.
      890 E Military Hwy, Pharr, TX 78577
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    301 Rdg Ave
    Pharr, TX 78577
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    301 Rdg Ave, Pharr, TX, 78577
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!