1425 E Iris Avenue, McAllen, TX 78501
MULTI_FAMILY - McAllen, TX
- Added:
- Jun 8, 2026
- Days on Market:
- 4
- Last Refresh:
- Jun 11 at 5:06 am
Property Features for 1425 E Iris Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 8
- Parking features
- Garage
- Appliances
- Electric Water Heater, Dryer, Refrigerator, Stove/Range-Electric Smooth, Washer
- Standard status
- Active
- APN
- P375800000004500
- Size
- 4,320 SF
- Lot size
- 0.21 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 15118
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2023
- Floors in Building
- 1
- Number of units
- 4
- Building materials
- Stucco
- Roof type
- Shingle
Listing agent Jaime Lee Gonzalez (956) 599-8400
Listing office Keller Williams Realty RGV 3300 N Mccoll. Ste P & Q, McAllen, TX (956) 928-1155
Listing date Jun 8, 2026
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.
HighLights
- Fully occupied 4‑plex with 4 total units (two buildings)
- Unit mix: each building has one 2BD/2BA unit and one 1BD/1BA unit
- Built in 2023 with stucco construction
- Central heating and central air conditioning
- Public water service; shingle roof
- Garage parking; appliances include electric water heater, washer, dryer, refrigerator, and electric smooth stove/range
Overview
The address is 1425 E Iris Avenue in McAllen, Texas, within the Park Terrace subdivision. Public remarks cite convenience to DHR, the medical district, and nearby dining and retail, and describe the property as having a mid-century modern aesthetic.
For buyers seeking a residential income property, the straightforward four-unit configuration and existing full occupancy may appeal for operational simplicity. The balanced mix of 1-bedroom and 2-bedroom layouts can also support tenant needs across different household sizes, with each unit having its own bathroom count as noted in the unit mix.
Local Financial Insights For Multifamily LT 5
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 | $59.6k | $13.80 |
| − Vacancy | −$3.9k | −$0.89 |
| EGI | $55.8k | $12.91 |
| − OpEx | −$16.7k | −$3.87 |
| NOI | $39.0k | $9.04 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- McAllen
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.199051
- Latitude
- 26.232362
