New Construction
For Sale
$510,000
11403 N 24th Lane, McAllen, TX 78504
Residential Income, McAllen, TX
Property Size4,148 SF
Lot Size0.22 Acres
Price / SF$122.95
Days on Market48
Property Features for 11403 N 24th Lane
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Property condition
Under Construction
Parking
8
Parking features
Garage
Patio and Porch features
Patio
Exterior features
Sprinkler System
Appliances
Electric Water Heater, Dryer, Microwave, Refrigerator, Stove/Range-Electric Smooth, Washer
Subdivision
North Park On 107 Subdivision
Lot features
Sidewalks
Elementary school
Cavazos
Middle school
Elias Longoria
High school
Vela H.S.
Elementary school district
Edinburg ISD
Middle school district
Edinburg ISD
High school district
Edinburg ISD
Directions
Head West on 107, pass N 23rd St, take the u-turn, follow 107, North Park on 107 will be on your right hand side. Take a right at the stop sign, follow the curb to the left. Property will be on the left handside. Google pin: https://maps.apple.com/?ll=26.309653,-98.229470&q=Marked%20Location&t=h
Standard status
Active
APN
N660800000002435
Size
4,148 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2200
HOA Fee
$85 Monthly
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
2026
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Shingle
Listing Agency:
BIG Realty
(956) 465-0011
Listed By:
Allen Lozano
(956) 246-2563
Added: Aug 5
Changed: Sep 17
Last Checked: Sep 21 at 5:06PM
MLS# 511677
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 11403 N 24th Lane is under construction and scheduled for completion in 2026. The property contains 4,148 square feet on a 0.2153-acre lot, with four residential units designed around open-concept living areas and contemporary finishes. Stucco exterior construction, a shingle roof, central electric heating, central air conditioning, and an electric water heater are specified. Garage parking, patios, and a sprinkler system are included, along with listed appliances such as a washer, dryer, refrigerator, microwave, and electric range.
The property is positioned along the Highway 107 corridor in McAllen, with access to major avenues and proximity to the University of Texas Rio Grande Valley, schools, shopping, dining, and daily services. Its location also provides access to Edinburg-area amenities.
The property is positioned along the Highway 107 corridor in McAllen, with access to major avenues and proximity to the University of Texas Rio Grande Valley, schools, shopping, dining, and daily services. Its location also provides access to Edinburg-area amenities.
Key Highlights
- Fourplex under construction with 4,148 square feet of property size
- 0.2153‑acre lot at 11403 N 24th Lane, McAllen, TX 78504
- Year built: 2026
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
$37,481
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%
$749,620
$749.6K
Cap Rate 7%
$535,443
$535.4K
Cap Rate 9%
$416,456
$416.5K
Market Conditions
NOI Build-Up for 4,148 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
$57.2K $13.80/SF
− Vacancy
−$3.7K −$0.89/SF
EGI
$53.5K $12.91/SF
− OpEx
−$16.1K −$3.87/SF
NOI
$37.5K $9.04/SF
Area
McAllen, TX
Vacancy
6.46%
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%
$749,620
Cap Rate 7%
$535,443
Cap Rate 9%
$416,456
Alternative Uses
Best Use
Multifamily LT 5
$535.4K
$468.5K – $624.7K
NOI $37,481 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$492.1K
$430.6K – $574.1K
NOI $34,445 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$1.13M
$985.6K – $1.31M
NOI $78,845 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 78504, TX
56,830
Population
21,417
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
86%
High-School Grad
19.6 sq mi
ZIP Area
2,899
Density / Sq Mi
$77,627
Median Household Income
$41,632
Median Earnings
$1,178
Median Rent
$203,900
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 - Fourplex under construction with modern finishes, open-concept layouts, garage parking, and patio space.
Where is this quadplex located?
The property is located at 11403 N 24th Lane McAllen, TX.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Fourplex under construction with 4,148 square feet of property size; 0.2153‑acre lot at 11403 N 24th Lane, McAllen, TX 78504; Year built: 2026
