Well-Maintained Fourplex With
For Sale
Contact for pricing
1409 Prosperity Drive, Edinburg, TX 78541
Four-unit residential income property with covered parking and central A/C, plus separate utility setups.
Property Size3,808 SF
Price / SF$93.22
Days on Market82
Property Features for 1409 Prosperity Drive
General Information
Standard status
Active
Size
3,808 SF
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Year Built
2003
Tenancy
Multi
Listing Agency:
Tnt Real Estate
Listed By:
Rebeca Bermudez · License #0657513
Source:
Crexi
Added: May 10
Changed: Jul 23
Last Checked: Jul 30 at 8:29AM
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 Tnt Real Estate
Investment Insights
Based on property information with market context.
This well-maintained fourplex provides four residential units, each configured with two bedrooms and two full bathrooms. Interiors include tile flooring, central A/C, ceiling fans, and washer/dryer connections. Kitchen appliances are provided, including a refrigerator and stove/range, and each unit features an open-concept layout with decorative tray ceilings.
The property is located in the Queens Ridge Estates subdivision with convenient access to UTRGV, Expressway 281/I-69C, shopping, dining, schools, and the Hidalgo County Courthouse. It also includes ample covered parking and separate utility setups.
For investors, the building’s unit mix and in-place features support straightforward residential leasing, with the property described as offering upside through lease-up.
The property is located in the Queens Ridge Estates subdivision with convenient access to UTRGV, Expressway 281/I-69C, shopping, dining, schools, and the Hidalgo County Courthouse. It also includes ample covered parking and separate utility setups.
For investors, the building’s unit mix and in-place features support straightforward residential leasing, with the property described as offering upside through lease-up.
Key Highlights
- Fourplex built in 2003 with four 2‑bedroom, 2‑bath units
- About 952 living SF per unit, with open‑concept layouts and decorative tray ceilings
- Each unit includes tile flooring, central A/C, ceiling fans, and kitchen appliances (refrigerator and stove/range)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.9k | $15.72 |
| − Vacancy | −$1.7k | −$0.46 |
| EGI | $58.1k | $15.26 |
| − OpEx | −$26.2k | −$6.87 |
| NOI | $32.0k | $8.40 |
3,808 SF · lease $15.72/SF/yr · vacancy 2.90% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$511.1K
$447.2K – $596.2K
NOI $35,774 @ 7.0% cap · market cap 10.08%
Second Best
Apartment 5plus
$456.7K
$399.6K – $532.8K
NOI $31,969 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$988.1K
$864.6K – $1.15M
NOI $69,165 @ 7.0% cap · market cap 19.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
151
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?
Quadplex - Four-unit residential income property with covered parking and central A/C, plus separate utility setups.
Where is this quadplex located?
The property is located at 1409 Prosperity Drive Edinburg, TX.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Fourplex built in 2003 with four 2‑bedroom, 2‑bath units; About 952 living SF per unit, with open‑concept layouts and decorative tray ceilings; Each unit includes tile flooring, central A/C, ceiling fans, and kitchen appliances (refrigerator and stove/range)
