Four-Unit Multifamily
For Sale
$390,000
422 W Chavez St W, Edinburg, TX 78541
Two modern buildings feature updated interiors, on-site laundry, and covered parking with full occupancy.
Property Size2,804 SF
Price / SF$139.09
Days on Market30
Property Features for 422 W Chavez St W
General Information
Standard status
Active
Size
2,804 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Amenities
on-site laundry
Building Details
Year Built
2019
Buildings
2
Listing Agency:
RE/MAX elite
(956) 330-3674
Listed By:
Gina Sears · License #712092
Source:
Aregtx
Added: Jul 30
Changed: Jul 31
Last Checked: Aug 26 at 10:34AM
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 RE/MAX elite
Investment Insights
Based on property information with market context.
This fully leased multifamily property includes two modern, well-maintained buildings totaling 2,804 square feet. The first building contains two units with 2 bedrooms and 1 bathroom each, while the second includes two units with 1 bedroom and 1 bathroom each. Built in 2019, the property features tile flooring, recessed lighting, open living and dining areas, stainless steel appliances, granite countertops, and ample cabinet space. An on-site laundry facility includes washers and dryers.
Located at 422 W Chavez St W in Edinburg, the property is minutes from UTRGV with access to I-69/281. The property also offers covered parking with two spaces in front and four in the rear, along with maintained landscaping. Schools, shopping, dining, and major roadways are identified nearby.
Located at 422 W Chavez St W in Edinburg, the property is minutes from UTRGV with access to I-69/281. The property also offers covered parking with two spaces in front and four in the rear, along with maintained landscaping. Schools, shopping, dining, and major roadways are identified nearby.
Key Highlights
- Four units across two buildings: two 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units
- 2,804‑square‑foot multifamily property built in 2019
- Fully leased with full occupancy
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
$23,540
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
6.04%
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%
$470,800
$470.8K
Cap Rate 7%
$336,286
$336.3K
Cap Rate 9%
$261,556
$261.6K
Market Conditions
NOI Build-Up for 2,804 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
$44.1K $15.72/SF
− Vacancy
−$1.3K −$0.46/SF
EGI
$42.8K $15.26/SF
− OpEx
−$19.3K −$6.87/SF
NOI
$23.5K $8.40/SF
Area
Edinburg, TX
Vacancy
2.90%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$470,800
Cap Rate 7%
$336,286
Cap Rate 9%
$261,556
Alternative Uses
Best Use
Apartment 5plus
$336.3K
$294.3K – $392.3K
NOI $23,540 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$727.6K
$636.6K – $848.8K
NOI $50,930 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
729
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?
Multifamily property - Two modern buildings feature updated interiors, on-site laundry, and covered parking with full occupancy.
Where is this multifamily property located?
The property is located at 422 W Chavez St W Edinburg, TX.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Four units across two buildings: two 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units; 2,804‑square‑foot multifamily property built in 2019; Fully leased with full occupancy
