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    803 Emerald Dr Pharr, TX 78577
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    Property profile & analytics

    803 Emerald Dr Pharr, TX 78577

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    • Small apartment buildings
    • 3,782 SF
    Off-Market
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    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 estimation — fast and free

    Location Insight

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

    Comparable in this City

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      Pharr Multifamily Investment Opportunity

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      Leased Apartment Complex in Pharr

      Fully leased 9-unit apartment complex with upside potential.
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    • $675,000
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      Gated Multifamily Property in Pharr

      Six-unit rental property in gated community, South Pharr, Texas.
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    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
    • $675,000
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      Gated Multifamily Property in Pharr

      Six-unit rental property in gated community, South Pharr, Texas.
      3904 S Radisson Ave, 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
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    • $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

    Similar Nearby for Lease

    • $20 SF/Yr
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      Prime Pharr Medical Office Space

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    • Contact for pricing

      Professional Plaza Office Space Available

      Office suites for professional use in Pharr, Texas.
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    • $8 SF/Yr

      Pharr Industrial Park Warehouse

      Industrial warehouse space in Pharr's Opportunity Zone.
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      130,000 SF

      Pharr Industrial Park Distribution Space

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    • $0.74 SF/Yr

      New Class A Warehouse in Pharr

      75,000 SF Class A warehouse near Pharr International Bridge.
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    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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