Four-Unit Apartment
For Sale
$310,000
1902 Jason Avenue, Edinburg, TX 78539
Fully occupied residential asset near UTRGV with in-unit laundry and kitchen appliances.
Property Size3,000 SF
Days on Market45
Property Features for 1902 Jason Avenue
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
6
Property subtype
Multi Family Home
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Furnished
No
Taxes and HOA fees
Annual Taxes
$5,689
Building Details
Building Size
3,000 SF
Year Built
1993
Buildings
1
Stories
1
Units
4
Listing Agency:
Key Realty
(956) 739-7893
Listed By:
Stephen Smith
(956) 739-7893
Source:
Buyingandsellingmcallen
Added: Jul 16
Changed: Aug 28
Last Checked: Aug 28 at 9:04PM
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 Key Realty
Investment Insights
Based on property information with market context.
Built in 1993, this four-unit residential property offers a consistent two-bedroom, one-bathroom layout in each apartment. Every unit includes a washer, dryer, refrigerator, and stove, providing a furnished appliance package for daily residential use. The property is fully occupied and showings are available by appointment with advance notice and an approved pre-approval letter.
The property is located in Edinburg near UTRGV, shopping centers, restaurants, and gyms. It is also directly across from the Edinburg Skate Park, splash pad, and baseball fields. Three additional four-plexes are available from the seller, including properties at 1818 Jason Ave, 1820 Jason Ave, and 1904 Jason Ave, with a preference to sell the group together.
The property is located in Edinburg near UTRGV, shopping centers, restaurants, and gyms. It is also directly across from the Edinburg Skate Park, splash pad, and baseball fields. Three additional four-plexes are available from the seller, including properties at 1818 Jason Ave, 1820 Jason Ave, and 1904 Jason Ave, with a preference to sell the group together.
Key Highlights
- Four units, each configured with 2 bedrooms and 1 bathroom
- Fully occupied residential property
- Washer, dryer, refrigerator, and stove included in every unit
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
$28,183
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
9.09%
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%
$563,660
$563.7K
Cap Rate 7%
$402,614
$402.6K
Cap Rate 9%
$313,144
$313.1K
Market Conditions
NOI Build-Up for 3,000 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
$41.4K $13.80/SF
− Vacancy
−$1.1K −$0.38/SF
EGI
$40.3K $13.42/SF
− OpEx
−$12.1K −$4.03/SF
NOI
$28.2K $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%
$563,660
Cap Rate 7%
$402,614
Cap Rate 9%
$313,144
Alternative Uses
Best Use
Multifamily LT 5
$402.6K
$352.3K – $469.7K
NOI $28,183 @ 7.0% cap · market cap 9.09%
Second Best
Apartment 5plus
$359.8K
$314.8K – $419.8K
NOI $25,186 @ 7.0% cap · market cap 8.12%
Theoretical Best
Office A
$778.4K
$681.1K – $908.2K
NOI $54,490 @ 7.0% cap · market cap 17.58%
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
760
Businesses Nearby
Explore this area
Business Placement
Demographics for 78539, TX
37,686
Population
15,759
Households
2.4
Avg Household Size
34
Median Age
37%
College-Educated
84%
High-School Grad
12.2 sq mi
ZIP Area
3,089
Density / Sq Mi
$64,864
Median Household Income
$38,413
Median Earnings
$1,034
Median Rent
$198,300
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 - Fully occupied residential asset near UTRGV with in-unit laundry and kitchen appliances.
Where is this quadplex located?
The property is located at 1902 Jason Avenue Edinburg, TX.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Four units, each configured with 2 bedrooms and 1 bathroom; Fully occupied residential property; Washer, dryer, refrigerator, and stove included in every unit
