2023 Fourplex with Modern
For Sale
$500,000
1630 Playa Drive, Weslaco, TX 78596
Residential Income, Weslaco, TX
Property Size4,200 SF
Lot Size0.23 Acres
Price / SF$119.05
Days on Market75
Property Features for 1630 Playa Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
None
Patio and Porch features
Patio
Appliances
Electric Water Heater, Smooth Electric Cooktop, Dryer, Microwave, Refrigerator, Washer
Subdivision
Ten Fifteen
Lot features
Curb & Gutters, Sidewalks
Elementary school
Margo
Middle school
Cuellar
High school
Weslaco East H.S.
Elementary school district
Weslaco ISD
Middle school district
Weslaco ISD
High school district
Weslaco ISD
Directions
From the Expressway, Exit 160, head right on the ramp for FM-1015 toward Intl Blvd. Turn right onto S International Blvd / FM-1015. Arrive at S International Blvd / FM-1015 on the left.
Standard status
Active
APN
T165000000000500
Size
4,200 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12621
HOA Fee
$400 Annually
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
tile flooring
quartz countertops
appliances
fenced patio
Building Details
Year built
2023
Floors in Building
1
Number of units
4
Building materials
Brick
Roof type
Composition
Listing Agency:
Zapphire Real Estate Group
(956) 600-7494
Listed By:
Glenda Pecina
(956) 579-2276
Added: Jul 6
Changed: Sep 12
Last Checked: Sep 18 at 4:06AM
MLS# 508871
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.
Completed in 2023, this fourplex contains 4,200 square feet across four residential units. The configuration includes two two-bedroom, two-bath residences and two three-bedroom, two-bath residences. Brick construction, a composition roof, central heating, and central air conditioning serve the building. Interior features include tile flooring, quartz countertops, and appliance packages with refrigerators, microwaves, smooth electric cooktops, washers, and dryers. Each residence also includes a fenced patio for private outdoor space.
The property sits on a 0.233-acre lot in Weslaco, Texas, with public water service. Water and electricity are separately metered for each unit, providing unit-level utility allocation. On-site parking is not provided.
The property sits on a 0.233-acre lot in Weslaco, Texas, with public water service. Water and electricity are separately metered for each unit, providing unit-level utility allocation. On-site parking is not provided.
Key Highlights
- Fourplex built in 2023 with 4,200 square feet
- Two 2‑bed/2‑bath units and two 3‑bed/2‑bath units
- Each unit has separately metered water and electricity
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
$36,729
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
7.35%
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%
$734,580
$734.6K
Cap Rate 7%
$524,700
$524.7K
Cap Rate 9%
$408,100
$408.1K
Market Conditions
NOI Build-Up for 4,200 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
$59.0K $14.04/SF
− Vacancy
−$6.5K −$1.55/SF
EGI
$52.5K $12.49/SF
− OpEx
−$15.7K −$3.75/SF
NOI
$36.7K $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%
$734,580
Cap Rate 7%
$524,700
Cap Rate 9%
$408,100
Alternative Uses
Best Use
Multifamily LT 5
$524.7K
$459.1K – $612.2K
NOI $36,729 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$483.1K
$422.7K – $563.6K
NOI $33,816 @ 7.0% cap · market cap 6.76%
Theoretical Best
Hotel Hospitality
$3.16M
$2.77M – $3.69M
NOI $221,445 @ 7.0% cap · market cap 44.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 78596, TX
37,329
Population
15,824
Households
2.4
Avg Household Size
36
Median Age
21%
College-Educated
75%
High-School Grad
40.1 sq mi
ZIP Area
931
Density / Sq Mi
$53,797
Median Household Income
$31,618
Median Earnings
$917
Median Rent
$92,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Four-unit residential property with varied layouts, private patios, and separate water and electric metering.
Where is this quadplex located?
The property is located at 1630 Playa Drive Weslaco, TX.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Fourplex built in 2023 with 4,200 square feet; Two 2‑bed/2‑bath units and two 3‑bed/2‑bath units; Each unit has separately metered water and electricity
