Well-Maintained Quadplex with Central
For Sale
$355,000
1206 Prosperity Drive, Edinburg, TX 78541
MULTI_FAMILY - Edinburg, TX
Property Size3,808 SF
Lot Size0.22 Acres
Price / SF$93.22
Days on Market93
Property Features for 1206 Prosperity Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Garage
Exterior features
Mature Trees
Appliances
Electric Water Heater, Dryer, Refrigerator, Stove/Range, Washer
Subdivision
Queens Ridge Estates
Lot features
Corner Lot
Elementary school
Truman
Middle school
B.L. Garza
High school
Edinburg H.S.
Elementary school district
Edinburg ISD
Middle school district
Edinburg ISD
High school district
Edinburg ISD
Directions
From University Dr go North on Sugar, turn West on Chapin, North onto Prosperity, property is located on the West South Corner
Standard status
Active
APN
Q307000000001700
Size
3,808 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8178
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2003
Floors in Building
1
Number of units
4
Building materials
Brick
Roof type
Shingle
Listing Agency:
RE/MAX elite · RE/MAX International
(956) 583-2100
Listed By:
Maria (Lila) Garcia · License #626016
(956) 227-6215
Added: May 5
Changed: Aug 3
Last Checked: Aug 5 at 3:06PM
MLS# 503600
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 well-maintained quadplex features brick construction and is equipped with central heating and central air. The property is completely leased, supporting a low-maintenance setup for an investor or owner-operator. Each unit includes a stove/range, refrigerator, and washer and dryer, and three units also include a dishwasher.
The property sits on a corner lot at 1206 Prosperity Drive in Edinburg, Texas (Hidalgo County). It is located very close to UTRGV, along with nearby restaurants, grocery stores, pharmacies, and shops. Additional exterior features include mature trees.
Built in 2003, the quadplex has electric water heating, shingle roofing, and public water service. Parking is available in a garage, and the property includes modern in-unit appliance packages designed for everyday tenant use.
The property sits on a corner lot at 1206 Prosperity Drive in Edinburg, Texas (Hidalgo County). It is located very close to UTRGV, along with nearby restaurants, grocery stores, pharmacies, and shops. Additional exterior features include mature trees.
Built in 2003, the quadplex has electric water heating, shingle roofing, and public water service. Parking is available in a garage, and the property includes modern in-unit appliance packages designed for everyday tenant use.
Key Highlights
- Completely leased quadplex with four units
- Brick construction and shingle roof; year built 2003
- Central heating and central air with electric water heater
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.9k | $15.72 |
| − Vacancy | −$1.7k | −$0.46 |
| EGI | $58.1k | $15.26 |
| − OpEx | −$26.2k | −$6.87 |
| NOI | $32.0k | $8.40 |
3,808 SF · lease $15.72/SF/yr · vacancy 2.90% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$511.1K
$447.2K – $596.2K
NOI $35,774 @ 7.0% cap · market cap 10.08%
Second Best
Apartment 5plus
$456.7K
$399.6K – $532.8K
NOI $31,969 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$988.1K
$864.6K – $1.15M
NOI $69,165 @ 7.0% cap · market cap 19.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
151
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 - Fourplex is completely leased and comes with in-unit appliances, including washer and dryer, on a corner lot.
Where is this quadplex located?
The property is located at 1206 Prosperity Drive Edinburg, TX.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Completely leased quadplex with four units; Brick construction and shingle roof; year built 2003; Central heating and central air with electric water heater
