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    Property profile & analytics

    803 Emerald Dr Pharr, TX 78577

    • Small apartment buildings
    • 3,782 SF
    For Sale
    View listing
    $385,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-5403761
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 803 Emerald Dr

    Year built
    2006
    Property size
    3,782 SF
    Property type
    Small apartment buildings

    Description

    Exceptional investment opportunity in Pharr, Texas! This well-maintained fourplex apartment building, built in 2006, offers 3,782 square feet of living space across four units, each featuring two bedrooms and two bathrooms with a carport. Situated on an 8,191.89 square foot lot, the property consists of two buildings and enjoys a peaceful residential location while remaining conveniently close to major highways, including proximity to highways 69C and 281. The property's prime location offers easy access to a wide array of dining and entertainment options in North McAllen. Currently rented, this property provides immediate cash flow and strong annual income potential. The asking price is $385,000. This is a turnkey investment with solid equity and minimal expenses, making it an ideal opportunity for a savvy investor seeking a profitable venture. Don't miss this chance to acquire a lucrative, established rental property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pharr
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.188073
    Latitude
    26.2276206

    Comparable in this City

    • $525,000

      Pharr, TX Multifamily Investment

      Four-unit apartment building, excellent cash flow.
      1503 Pamplona St, Pharr, TX 78577
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    • $360,000

      Pharr Multifamily Investment Opportunity

      Four-unit apartment building, excellent location.
      712 Bronze Dr, Pharr, TX 78577
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    • $520,000

      Pharr, TX 4-Plex Investment

      Exceptional 4-unit apartment building, prime location.
      1503 Heritage Dr, Pharr, TX 78577
      View Details
    • $185,000

      Pharr Multifamily Land Investment

      Prime Texas Land: Multi-use Potential
      7809 Cisne St, Pharr, TX 78577
      View Details
    • $398,000
      3,692 SF

      Pharr Multifamily Investment Opportunity

      Fourplex, High-Income Potential, Updated Units
      1208 Diplomat Dr, Pharr, TX 78577
      View Details
    • $393,000

      Pharr 4plex: Gated Community Investment

      Four-unit apartment building, excellent income.
      3606 Sheraton Ave, Pharr, TX 78577
      View Details

    Similar Nearby for Sale

    • $525,000

      Pharr, TX Multifamily Investment

      Four-unit apartment building, excellent cash flow.
      1503 Pamplona St, Pharr, TX 78577
      View Details
    • $360,000

      Pharr Multifamily Investment Opportunity

      Four-unit apartment building, excellent location.
      712 Bronze Dr, Pharr, TX 78577
      View Details
    • $520,000

      Pharr, TX 4-Plex Investment

      Exceptional 4-unit apartment building, prime location.
      1503 Heritage Dr, Pharr, TX 78577
      View Details
    • $185,000

      Pharr Multifamily Land Investment

      Prime Texas Land: Multi-use Potential
      7809 Cisne St, Pharr, TX 78577
      View Details
    • $398,000
      3,692 SF

      Pharr Multifamily Investment Opportunity

      Fourplex, High-Income Potential, Updated Units
      1208 Diplomat Dr, Pharr, TX 78577
      View Details
    • $393,000

      Pharr 4plex: Gated Community Investment

      Four-unit apartment building, excellent income.
      3606 Sheraton 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
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      Sam Houston Plaza: Pharr, TX

      Prime Pharr Office/Retail Space
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    • $18 SF/Yr
      2,093 SF

      Pharr, TX Commercial Space Available

      Prime location, versatile space, ample parking.
      2506 Cage Blvd, Pharr, TX 78577
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    • $8 SF/Yr
      74,165 SF

      Pharr Industrial Park Warehouse

      Industrial warehouse space in Pharr's Opportunity Zone.
      S San Juan Rd, Pharr, TX 78577
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    • Contact for pricing
      100,000 SF

      Pharr Industrial Warehouse Space Available

      100,000 SF industrial warehouse near Pharr International Bridge.
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    • $2,813 /Mo
      8,026 SF

      New Flex Space in Pharr

      New construction flex space suitable for retail, office, or industrial.
      3550 N Birch St, Pharr, TX 78577
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    803 Emerald Dr
    Pharr, TX 78577
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    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
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