Gated Fourplex with Private
New
For Sale
$509,000
12505 N 38th Street, McAllen, TX 78504
Four three-bedroom residences feature upgraded interior finishes, included appliances, and private yard space.
Property Size4,200 SF
Price / SF$121.19
Days on Market7
Property Features for 12505 N 38th Street
General Information
Standard status
Active
Size
4,200 SF
Total Parking Spaces
8
Property subtype
Multi Family Home
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,300
Amenities
gated community
stainless steel refrigerator
microwave
washer
dryer
window coverings
Built-in Features
Ceiling Fan(s)
Decorative/High Ceilings
Dryer
Microwave
Walk-In Closet(s)
Washer
Sprinkler System
Building Details
Building Size
4,200 SF
Year Built
2026
Buildings
2
Stories
1
Units
4
Listing Agency:
Spirit Real Estate
(469) 400-0749
Listed By:
Janet Clement
(956) 520-2318
Source:
Gdvrealty
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 2:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Spirit Real Estate
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Investment Insights
Based on property information with market context.
Built in 2026, this gated fourplex contains four residences, each with three bedrooms, two bathrooms, and 1,050 square feet. Decorative recessed ceilings and upgraded fixtures and finishes distinguish the interiors. Stainless steel refrigerators, microwaves, washers, dryers, and window coverings are included, and each unit has yard space.
The property is in McAllen near the University of Texas Rio Grande Valley campus, with schools, shops, dining, parks, and entertainment venues among the surrounding amenities. The reported 4,200 square feet across the four units aligns with the stated unit sizes.
The property is in McAllen near the University of Texas Rio Grande Valley campus, with schools, shops, dining, parks, and entertainment venues among the surrounding amenities. The reported 4,200 square feet across the four units aligns with the stated unit sizes.
Key Highlights
- Four units, each with 3 bedrooms and 2 bathrooms
- 1,050 square feet per residence; 4,200 square feet total
- Built in 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,951
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,020
$759.0K
Cap Rate 7%
$542,157
$542.2K
Cap Rate 9%
$421,678
$421.7K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$58.0K $13.80/SF
− Vacancy
−$3.7K −$0.89/SF
EGI
$54.2K $12.91/SF
− OpEx
−$16.3K −$3.87/SF
NOI
$38.0K $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 Rate 5%
$759,020
Cap Rate 7%
$542,157
Cap Rate 9%
$421,678
Alternative Uses
Best Use
Multifamily LT 5
$542.2K
$474.4K – $632.5K
NOI $37,951 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$498.2K
$436.0K – $581.3K
NOI $34,877 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$1.14M
$997.9K – $1.33M
NOI $79,834 @ 7.0% cap · market cap 15.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four three-bedroom residences feature upgraded interior finishes, included appliances, and private yard space.
Where is this quadplex located?
The property is located at 12505 N 38th Street McAllen, TX.
What is the asking price?
The asking price for this property is $509,000.
What are key features of this property?
This property features: Four units, each with 3 bedrooms and 2 bathrooms; 1,050 square feet per residence; 4,200 square feet total; Built in 2026
