Quadplex with Newer Major
For Sale
$390,000
1405 Prosperity Dr, Edinburg, TX 78539
Four-unit multifamily property with practical layouts and recently replaced roof, air-conditioning equipment, and water heaters.
Property Size3,808 SF
Price / SF$102.42
Days on Market52
Property Features for 1405 Prosperity Dr
General Information
Standard status
Active
Size
3,808 SF
Property subtype
Multi-Family
Building Details
Year Built
2005
Listing Agency:
Keller Williams Realty RGV
Listed By:
Ronaldo Lacayo
(972) 606-2900
Source:
Aregtx
Added: Sep 11
Changed: Oct 26
Last Checked: Oct 7 at 1:13PM
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 Keller Williams Realty RGV
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Investment Insights
Based on property information with market context.
Built in 2005, this 3,808-square-foot quadplex contains four residential units with two-bedroom, two-bath layouts. The property offers a functional configuration supported by a fairly new roof, new air conditioners, and new water heaters.
The property is located in Edinburg near The University of Texas Rio Grande Valley, with restaurants and shopping centers nearby. Its four-unit design and established building improvements provide a straightforward multifamily format in a university-area setting.
The property is located in Edinburg near The University of Texas Rio Grande Valley, with restaurants and shopping centers nearby. Its four-unit design and established building improvements provide a straightforward multifamily format in a university-area setting.
Key Highlights
- Four‑unit quadplex with two‑bedroom, two‑bath layouts
- 3,808 square feet of building area
- Built in 2005
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,774
Cap Rate
9.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$715,480
$715.5K
Cap Rate 7%
$511,057
$511.1K
Cap Rate 9%
$397,489
$397.5K
Market Conditions
NOI Build-Up for 3,808 SF
Gross rent
$52.6K $13.80/SF
− Vacancy
−$1.4K −$0.38/SF
EGI
$51.1K $13.42/SF
− OpEx
−$15.3K −$4.03/SF
NOI
$35.8K $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 Rate 5%
$715,480
Cap Rate 7%
$511,057
Cap Rate 9%
$397,489
Alternative Uses
Best Use
Multifamily LT 5
$511.1K
$447.2K – $596.2K
NOI $35,774 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$456.7K
$399.6K – $532.8K
NOI $31,969 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$988.1K
$864.6K – $1.15M
NOI $69,165 @ 7.0% cap · market cap 17.73%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily property with practical layouts and recently replaced roof, air-conditioning equipment, and water heaters.
Where is this quadplex located?
The property is located at 1405 Prosperity Dr 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‑unit quadplex with two‑bedroom, two‑bath layouts; 3,808 square feet of building area; Built in 2005
