Quadplex with Newer Major
New
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 Market4
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
(956) 566-8377
Source:
Aregtx
Added: Sep 11
Last Checked: Sep 13 at 11:43AM
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
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 = 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
$35,774
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
9.17%
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%
$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
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
$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 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%
$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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
148
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
