Quadplex Residential Income
For Sale
$535,000
1007 Clarence Avenue, Edinburg, TX 78541
MULTI_FAMILY - Edinburg, TX
Property Size4,200 SF
Lot Size0.22 Acres
Price / SF$127.38
Days on Market69
Property Features for 1007 Clarence Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Garage
Patio and Porch features
Patio, Porch
Exterior features
Sprinkler System
Appliances
Electric Water Heater, Water Heater (Other Location), Dryer, Microwave, Refrigerator, Stove/Range-Electric Smooth, Washer
Subdivision
Atwood Village
Lot features
Alley, Sidewalks, Sprinkler System
Elementary school
Flores
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
https://maps.app.goo.gl/9qMQXSFv2gQPiNBEA
Standard status
Active
APN
A635000000005000
Size
4,200 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9462
HOA Fee
$500 Annually
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
privacy-fenced backyard with mature oak trees
dedicated storage
Building Details
Year built
2024
Floors in Building
1
Number of units
4
Building materials
Stone, Stucco
Roof type
Shingle
Listing Agency:
BIG Realty
(956) 465-0011
Listed By:
Victor Fuentes · License #574075
(956) 432-1351
Added: Jun 3
Changed: Aug 3
Last Checked: Aug 10 at 4:06PM
MLS# 506224
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.
Newly built quadplex residential income property on a 0.2204-acre lot, completed in 2024. The property totals 4,200 square feet and features central heating with central air conditioning. Exterior improvements include stone and stucco construction, a shingle roof, and a sprinkler system. The home includes a porch and patio, plus a privacy-fenced backyard with mature oak trees and dedicated storage.
The unit mix includes a 3-bedroom/2-bath unit and a 2-bedroom/2-bath unit. The property is described as fully leased with a 90% historical occupancy rate, supporting an investor focus on steady demand. A projected 7.6% cap rate is referenced, and owner financing is available.
Located near Expressway 83, UTRGV, and Edinburg CCISD schools, with medical facilities along US-281, the property is positioned to serve tenants associated with the Rio Grande Valley’s rental corridor.
The unit mix includes a 3-bedroom/2-bath unit and a 2-bedroom/2-bath unit. The property is described as fully leased with a 90% historical occupancy rate, supporting an investor focus on steady demand. A projected 7.6% cap rate is referenced, and owner financing is available.
Located near Expressway 83, UTRGV, and Edinburg CCISD schools, with medical facilities along US-281, the property is positioned to serve tenants associated with the Rio Grande Valley’s rental corridor.
Key Highlights
- 0.2204‑acre lot and 4,200 SF built in 2024
- Fully leased with a 90% historical occupancy rate
- Projected 7.6% cap rate and owner financing available
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
$39,456
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
7.37%
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%
$789,120
$789.1K
Cap Rate 7%
$563,657
$563.7K
Cap Rate 9%
$438,400
$438.4K
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
$58.0K $13.80/SF
− Vacancy
−$1.6K −$0.38/SF
EGI
$56.4K $13.42/SF
− OpEx
−$16.9K −$4.03/SF
NOI
$39.5K $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%
$789,120
Cap Rate 7%
$563,657
Cap Rate 9%
$438,400
Alternative Uses
Best Use
Multifamily LT 5
$563.7K
$493.2K – $657.6K
NOI $39,456 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$503.7K
$440.8K – $587.7K
NOI $35,260 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$1.09M
$953.6K – $1.27M
NOI $76,285 @ 7.0% cap · market cap 14.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
54
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Newly built multifamily income property offering fully leased units with 90% historical occupancy and projected 7.6% cap rate.
Where is this quadplex located?
The property is located at 1007 Clarence Avenue Edinburg, TX.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: 0.2204‑acre lot and 4,200 SF built in 2024; Fully leased with a 90% historical occupancy rate; Projected 7.6% cap rate and owner financing available
