Four-Unit
New
For Sale
$485,000
1631 Playa Drive, Weslaco, TX 78596
Residential Income, Weslaco, TX
Property Size4,200 SF
Lot Size0.24 Acres
Price / SF$115.48
Days on Market4
Property Features for 1631 Playa Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
Other
Fencing
Privacy
Appliances
Electric Water Heater, Smooth Electric Cooktop, Dryer, Microwave, Refrigerator, Washer
Subdivision
Ten Fifteen
Lot features
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 expressway 83 drive south on 1015. Property will be on left side just past Mira Vista subdivision.
Standard status
Active
APN
T165000000002800
Size
4,200 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12673
HOA Fee
$500 Annually
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2023
Floors in Building
1
Number of units
4
Building materials
Stone, Stucco
Roof type
Shingle
Listing Agency:
SANETI Realty Group
(956) 833-1850
Listed By:
Claudia Hortencia Perez Maldonado · License #801071291
(956) 332-0777
Added: Sep 3
Last Checked: Sep 6 at 8:06AM
MLS# 514362
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 quadplex contains four residential units within a 4,200-square-foot building completed in 2023. The unit mix includes two-bedroom, two-bath and three-bedroom, two-bath layouts, with each residence measuring approximately 1,100 square feet. Interiors feature open-plan arrangements, modern finishes, and maintained living areas. Appliances include refrigerators, microwaves, smooth electric cooktops, washers, and dryers. Central heating and central air serve the building.
The property occupies 0.2378 acres in Weslaco, Texas. Stone and stucco exterior materials, a shingle roof, privacy fencing, and public water service are also in place. The four-unit configuration provides multiple residential leases within one property.
The property occupies 0.2378 acres in Weslaco, Texas. Stone and stucco exterior materials, a shingle roof, privacy fencing, and public water service are also in place. The four-unit configuration provides multiple residential leases within one property.
Key Highlights
- Four‑unit property with 4,200 square feet of building area
- Built in 2023 on 0.2378 acres
- Unit mix includes 3‑bedroom, 2‑bath and 2‑bedroom, 2‑bath residences
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
7.57%
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 7.57%
Second Best
Apartment 5plus
$483.1K
$422.7K – $563.6K
NOI $33,816 @ 7.0% cap · market cap 6.97%
Theoretical Best
Hotel Hospitality
$3.16M
$2.77M – $3.69M
NOI $221,445 @ 7.0% cap · market cap 45.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
62
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
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 residential units offer a mix of two- and three-bedroom layouts with central heating and cooling.
Where is this quadplex located?
The property is located at 1631 Playa Drive Weslaco, TX.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Four‑unit property with 4,200 square feet of building area; Built in 2023 on 0.2378 acres; Unit mix includes 3‑bedroom, 2‑bath and 2‑bedroom, 2‑bath residences
