Fourplex with Two-Bedroom
1501 Prosperity Drive Edinburg, TX 78541
New
1501 Prosperity Drive, Edinburg, TX, 78541
$354,900
For Sale
$354,900
MULTI_FAMILY - Edinburg, TX
Property Size3,808 SF
Lot Size0.22 Acres
Price / SF$93.20
Days on Market6
Property Features for 1501 Prosperity Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 8
- Parking features
- Garage
- Patio and Porch features
- Patio
- Appliances
- Electric Water Heater, Smooth Electric Cooktop, Refrigerator
- Standard status
- Active
- APN
- Q307000000000400
- Size
- 3,808 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 8333
Utilities
- Heating system
- Central
- Cooling system
- Central Air
Building Details
- Year built
- 2003
- Floors in Building
- 1
- Number of units
- 4
- Building materials
- Brick
- Roof type
- Shingle
Listing Agency
Keller Williams Realty RGV
(956) 928-1155
3300 N Mccoll. Ste P & Q, McAllen, TX
Listed by
Brenda Ochoa · License #744216
(956) 648-5700
Added: Jul 13 Checked: Jul 18 at 11:06 pm
MLS# 508062
Listing URL
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 fourplex offers four independently arranged rental units, with each unit providing two bedrooms and two full bathrooms. Tile flooring is featured throughout the units, and the layouts are designed for comfortable day-to-day living.
Located in Edinburg, Texas, the property is positioned just minutes from the University of Texas Rio Grande Valley (UTRGV), along with popular restaurants and shopping. The listing also notes easy access to major roads and surrounding residential neighborhoods.
With four total units, the property can support different ownership approaches, including living in one unit while renting the remaining units, or leasing all four units. The seller indicates it is ready to negotiate and open to offers.
Located in Edinburg, Texas, the property is positioned just minutes from the University of Texas Rio Grande Valley (UTRGV), along with popular restaurants and shopping. The listing also notes easy access to major roads and surrounding residential neighborhoods.
With four total units, the property can support different ownership approaches, including living in one unit while renting the remaining units, or leasing all four units. The seller indicates it is ready to negotiate and open to offers.
Key Highlights
- 4‑plex built in 2003 with brick construction
- Each of the four units has 2 bedrooms and 2 full bathrooms
- Tile flooring throughout the units and functional layouts
Local 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 19.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four rental units, each with two bedrooms and two full bathrooms, featuring tile flooring and functional layouts.
Where is this quadplex located?
The property is located at 1501 Prosperity Drive Edinburg, TX.
What is the asking price?
The asking price for this property is $354,900.
What are key features of this property?
This property features: 4‑plex built in 2003 with brick construction; Each of the four units has 2 bedrooms and 2 full bathrooms; Tile flooring throughout the units and functional layouts
