Four-Unit Brick
For Sale
$410,000
1416 Leann Rimes, Edinburg, TX 78542
Fully leased residential income property with updated kitchens, private laundry equipment, and rear covered parking.
Property Size3,552 SF
Price / SF$115.43
Days on Market64
Property Features for 1416 Leann Rimes
General Information
Standard status
Active
Size
3,552 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA, 2 x 2BR/2BA
Multifamily Units
4
Parking per Unit
2
Building Details
Year Built
2015
Buildings
1
Construction
brick
Listing Agency:
Equity Assets Realty
Listed By:
Eugenia Morales · License #801066604
(956) 994-9455
Source:
Aregtx
Added: Aug 12
Changed: Oct 6
Last Checked: Oct 7 at 2:47PM
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 Equity Assets Realty
Investment Insights
Based on property information with market context.
Built in 2015, this 3,552-square-foot brick quadplex contains four residential units. Two apartments offer three bedrooms and two baths, while the remaining two provide two bedrooms and two baths. Each unit includes a living room, dining area, master suite with a separate shower, and tile flooring throughout.
The kitchens are equipped with granite countertops, microwaves, refrigerators, and electric ranges. Individual washers and dryers are provided in every apartment. A rear carport offers two parking spaces per unit. Each apartment has a separate electric meter, with water billed through a shared meter. All four units are currently rented.
The kitchens are equipped with granite countertops, microwaves, refrigerators, and electric ranges. Individual washers and dryers are provided in every apartment. A rear carport offers two parking spaces per unit. Each apartment has a separate electric meter, with water billed through a shared meter. All four units are currently rented.
Key Highlights
- 3,552‑SF brick quadplex built in 2015
- Unit mix includes two 3‑bedroom/2‑bath units and two 2‑bedroom/2‑bath units
- All four units are currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,369
Cap Rate
8.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$667,380
$667.4K
Cap Rate 7%
$476,700
$476.7K
Cap Rate 9%
$370,767
$370.8K
Market Conditions
NOI Build-Up for 3,552 SF
Gross rent
$49.0K $13.80/SF
− Vacancy
−$1.3K −$0.38/SF
EGI
$47.7K $13.42/SF
− OpEx
−$14.3K −$4.03/SF
NOI
$33.4K $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%
$667,380
Cap Rate 7%
$476,700
Cap Rate 9%
$370,767
Alternative Uses
Best Use
Multifamily LT 5
$476.7K
$417.1K – $556.2K
NOI $33,369 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$426.0K
$372.8K – $497.0K
NOI $29,820 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$921.7K
$806.5K – $1.08M
NOI $64,516 @ 7.0% cap · market cap 15.74%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Explore this area
Business Placement
Demographics for 78542, TX
84,678
Population
25,198
Households
3.4
Avg Household Size
28
Median Age
13%
College-Educated
64%
High-School Grad
176.0 sq mi
ZIP Area
481
Density / Sq Mi
$52,962
Median Household Income
$30,377
Median Earnings
$876
Median Rent
$123,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased residential income property with updated kitchens, private laundry equipment, and rear covered parking.
Where is this quadplex located?
The property is located at 1416 Leann Rimes Edinburg, TX.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: 3,552‑SF brick quadplex built in 2015; Unit mix includes two 3‑bedroom/2‑bath units and two 2‑bedroom/2‑bath units; All four units are currently rented
