Edinburg Fourplex Near
1405 Prosperity Drive Edinburg, TX 78539
For Sale
$390,000
MULTI_FAMILY - Edinburg, TX
Property Size3,808 SF
Lot Size0.22 Acres
Price / SF$102.42
Days on Market127
Property Features for 1405 Prosperity Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 8
- Parking features
- Garage
- Exterior features
- Mature Trees
- Appliances
- Electric Water Heater, Smooth Electric Cooktop, Dishwasher, Dryer, Oven-Microwave, Refrigerator, Washer
- Standard status
- Active
- APN
- Q307000000000800
- Size
- 3,808 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 9089
Utilities
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 2005
- Floors in Building
- 1
- Number of units
- 4
- Building materials
- Brick
- Roof type
- Composition
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Ronaldo Lacayo
(956) 578-5733
Added: Mar 21
Changed: Jun 9
Last Checked: Jul 25 at 10:06PM
MLS# 430983
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.
This fourplex property, located in Edinburg, Texas, features a functional floor plan with two bedrooms and two complete bathrooms in each unit. The property benefits from a relatively new roof, new air conditioners, and new water heaters. Situated in a favorable location, the fourplex is positioned just blocks away from the University of Texas Rio Grande Valley (UTRGV) and is in close proximity to restaurants and shopping centers. The property size is 3808 square feet, situated on a lot of 0.2218 acres.
Key Highlights
- Excellent location, blocks from UTRGV and close to restaurants and shopping.
- Updated major systems include a new roof, air conditioners, and water heaters.
- Great 4‑plex income property investment opportunity.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.6k | $13.80 |
| − Vacancy | −$1.4k | −$0.38 |
| EGI | $51.1k | $13.42 |
| − OpEx | −$15.3k | −$4.03 |
| NOI | $35.8k | $9.39 |
3,808 SF · lease $13.80/SF/yr · vacancy 2.75% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$511.1K
$447.2K – $596.2K
NOI $35,774 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$456.7K
$399.6K – $532.8K
NOI $31,969 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$988.1K
$864.6K – $1.15M
NOI $69,165 @ 7.0% cap · market cap 17.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Fourplex with new roof, AC, and water heaters near UTRGV.
Where is this quadplex located?
The property is located at 1405 Prosperity Drive Edinburg, TX.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Excellent location, blocks from UTRGV and close to restaurants and shopping.; Updated major systems include a new roof, air conditioners, and water heaters.; Great 4‑plex income property investment opportunity.
