Four-Unit Apartment
For Sale
$390,000
1405 Prosperity Drive, Edinburg, TX 78539
Residential Income, Edinburg, TX
Property Size3,808 SF
Lot Size0.22 Acres
Price / SF$102.42
Days on Market129
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Property Features for 1405 Prosperity Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
None
Exterior features
Mature Trees
Appliances
Electric Water Heater, Smooth Electric Cooktop, Dishwasher, Dryer, Oven-Microwave, Refrigerator, Washer
Subdivision
Queens Ridge Estates
Lot features
Curb & Gutters, Mature Trees, Sidewalks
Elementary school
Truman
Middle school
B.L. Garza
High school
Edinburg North H.S.
Elementary school district
Edinburg ISD
Middle school district
Edinburg ISD
High school district
Edinburg ISD
Directions
NORTH ON SUGAR RD , FROM CHAPIN , EAST ON PROSPERITY .
Standard status
Active
APN
Q307000000000800
Size
3,808 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
9089
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2005
Floors in Building
1
Number of units
4
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Ronaldo Lacayo
(956) 578-5733
Added: Jun 9
Changed: Sep 21
Last Checked: Oct 15 at 1:06PM
MLS# 430983
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,808-square-foot quadplex, built in 2005, contains four residential units with two bedrooms and two full bathrooms per unit. The property features a functional floor plan, brick construction, mature trees, composition roofing, central electric heating, and central air conditioning. Each unit is equipped with a kitchen appliance package that includes a smooth electric cooktop, dishwasher, oven-microwave, and refrigerator, along with a washer and dryer.
Located in Edinburg near UTRGV, the property is also close to restaurants and shopping centers. The 0.2218-acre site is served by public water and includes electric water heaters. Recent property updates include a fairly new roof, new air conditioners, and new water heaters.
Located in Edinburg near UTRGV, the property is also close to restaurants and shopping centers. The 0.2218-acre site is served by public water and includes electric water heaters. Recent property updates include a fairly new roof, new air conditioners, and new water heaters.
Key Highlights
- Four‑unit quadplex with 3,808 square feet of building area
- Each unit includes 2 bedrooms and 2 full bathrooms
- Built in 2005 on a 0.2218‑acre lot
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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Current Use
Lease Details
4
Residential units
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
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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 - Functional residential income property with updated mechanical systems and convenient access to restaurants, shopping, and UTRGV.
Where is this quadplex located?
The property is located at 1405 Prosperity Drive 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 3,808 square feet of building area; Each unit includes 2 bedrooms and 2 full bathrooms; Built in 2005 on a 0.2218‑acre lot
