Fourplex with Patio and Privacy
For Sale
$509,900
2915 W Driftwood Street, Edinburg, TX 78541
MULTI_FAMILY - Edinburg, TX
Property Size3,872 SF
Lot Size0.25 Acres
Price / SF$131.69
Days on Market81
Property Features for 2915 W Driftwood Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
Other
Patio and Porch features
Patio
Exterior features
Sprinkler System
Fencing
Privacy
Appliances
Electric Water Heater, Dryer, Microwave, Refrigerator, Stove/Range-Electric Smooth, Washer
Subdivision
Woodlands Estates
Lot features
Curb & Gutters, Sidewalks
Elementary school
Cavazos
Middle school
Longoria
High school
Edinburg North H.S.
Elementary school district
Edinburg ISD
Middle school district
Edinburg ISD
High school district
Edinburg ISD
Directions
Heading north on McColl Rd. Pass Schunior Rd.
Standard status
Active
APN
W789500000000300
Size
3,872 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
1
HOA Fee
$600 Annually
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2023
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Shingle
Listing Agency:
Key Realty
(956) 627-7552
Listed By:
Preshina Samtani · License #617748
(956) 460-7763
Added: Jun 10
Changed: Aug 14
Last Checked: Aug 29 at 9:06AM
MLS# 503617
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 at 2915 W Driftwood Street in Edinburg is a 2023-built stucco property designed for low-maintenance, tenant-friendly living. The home includes four units, each with tile flooring and granite countertops, plus a full appliance package featuring a stove/range, refrigerator, microwave, washer, and dryer. Interior comfort is supported by central electric heating and central electric air conditioning. Outdoor amenities include a patio and privacy fencing, and the exterior is complemented by a sprinkler system.
The property sits on a 0.2475-acre lot and totals 3,872 square feet under roof. Water service is public, and the roof is shingle.
With each unit equipped for day-to-day convenience, the layout and finishes are geared toward simplifying move-ins for tenants while supporting straightforward operations for an owner.
The property sits on a 0.2475-acre lot and totals 3,872 square feet under roof. Water service is public, and the roof is shingle.
With each unit equipped for day-to-day convenience, the layout and finishes are geared toward simplifying move-ins for tenants while supporting straightforward operations for an owner.
Key Highlights
- Fourplex built in 2023 with stucco construction
- 3,872 SF total building size on 0.2475‑acre lot
- Each unit features tile flooring and granite countertops
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
$36,375
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
7.13%
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%
$727,500
$727.5K
Cap Rate 7%
$519,643
$519.6K
Cap Rate 9%
$404,167
$404.2K
Market Conditions
NOI Build-Up for 3,872 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
$53.4K $13.80/SF
− Vacancy
−$1.5K −$0.38/SF
EGI
$52.0K $13.42/SF
− OpEx
−$15.6K −$4.03/SF
NOI
$36.4K $9.39/SF
Area
Edinburg, TX
Vacancy
2.75%
Lease Rate
$13.80 /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%
$727,500
Cap Rate 7%
$519,643
Cap Rate 9%
$404,167
Alternative Uses
Best Use
Multifamily LT 5
$519.6K
$454.7K – $606.3K
NOI $36,375 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$464.4K
$406.3K – $541.8K
NOI $32,506 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$1.00M
$879.1K – $1.17M
NOI $70,328 @ 7.0% cap · market cap 13.79%
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
191
Businesses Nearby
Explore this area
Business Placement
Demographics for 78541, TX
48,513
Population
17,669
Households
2.7
Avg Household Size
28
Median Age
25%
College-Educated
77%
High-School Grad
290.2 sq mi
ZIP Area
167
Density / Sq Mi
$50,567
Median Household Income
$30,752
Median Earnings
$945
Median Rent
$142,600
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 - Well-maintained fourplex built in 2023 with central electric HVAC, private fencing, and an on-site sprinkler system.
Where is this quadplex located?
The property is located at 2915 W Driftwood Street Edinburg, TX.
What is the asking price?
The asking price for this property is $509,900.
What are key features of this property?
This property features: Fourplex built in 2023 with stucco construction; 3,872 SF total building size on 0.2475‑acre lot; Each unit features tile flooring and granite countertops
