Edinburg Fourplex Investment
For Sale
$357,000
1504 Prosperity Dr, Edinburg, TX 78541
Four 2-bed, 2-bath units near University, fully occupied.
Property Size3,536 SF
Price / SF$100.96
Days on Market214
Property Features for 1504 Prosperity Dr
General Information
Standard status
Active
Size
3,536 SF
Property subtype
Multi-Family
Building Details
Year Built
2003
Listing Agency:
Element Realty, LLC
Listed By:
Maria Guerra
(956) 588-5402
Source:
Aregtx
Added: Mar 26
Changed: Oct 7
Last Checked: Oct 24 at 9:28PM
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 Element Realty, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This fourplex property, located in Edinburg, presents an investment opportunity. The property contains four units, each featuring two bedrooms and two bathrooms. The units are currently fully occupied. Its location offers rental potential, particularly due to its proximity to the University.
Key Highlights
- Fully occupied 4plex, generating immediate rental income.
- Prime Edinburg location.
- Four 2‑bed, 2‑bath units.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,686
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$593,720
$593.7K
Cap Rate 7%
$424,086
$424.1K
Cap Rate 9%
$329,844
$329.8K
Market Conditions
NOI Build-Up for 3,536 SF
Gross rent
$55.6K $15.72/SF
− Vacancy
−$1.6K −$0.46/SF
EGI
$54.0K $15.26/SF
− OpEx
−$24.3K −$6.87/SF
NOI
$29.7K $8.40/SF
Area
Edinburg, TX
Vacancy
2.90%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$593,720
Cap Rate 7%
$424,086
Cap Rate 9%
$329,844
Alternative Uses
Best Use
Multifamily LT 5
$474.5K
$415.2K – $553.6K
NOI $33,218 @ 7.0% cap · market cap 9.30%
Second Best
Apartment 5plus
$424.1K
$371.1K – $494.8K
NOI $29,686 @ 7.0% cap · market cap 8.32%
Theoretical Best
Office A
$917.5K
$802.8K – $1.07M
NOI $64,225 @ 7.0% cap · market cap 17.99%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four 2-bed, 2-bath units near University, fully occupied.
Where is this quadplex located?
The property is located at 1504 Prosperity Dr Edinburg, TX.
What is the asking price?
The asking price for this property is $357,000.
What are key features of this property?
This property features: Fully occupied 4plex, generating immediate rental income.; Prime Edinburg location.; Four 2‑bed, 2‑bath units.
