Four-Unit Apartment
New
For Sale
$362,000
1505 Prosperity Dr, Edinburg, TX 78541
Residents have in-unit laundry, tile flooring, and a kitchen equipped with essential appliances.
Property Size3,808 SF
Price / SF$95.06
Days on Market2
Property Features for 1505 Prosperity Dr
General Information
Standard status
Active
Size
3,808 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Amenities
washer/dryer
refrigerator
gas stove
microwave
oven
AC
tile flooring
Building Details
Year Built
2005
Listing Agency:
Keller Williams Realty RGV
Listed By:
Alyss Alvarez
(956) 638-5963
Source:
Aregtx
Added: Oct 14
Changed: Oct 15
Last Checked: Sep 30 at 12:36PM
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 Keller Williams Realty RGV
Investment Insights
Based on property information with market context.
This 3,808-square-foot quadplex contains four residences, each with two bedrooms and two bathrooms. Unit interiors feature tile flooring and new AC systems. Kitchens include a refrigerator, gas stove, microwave, and oven; each residence also has a washer and dryer.
The property is within walking distance of UTRGV and offers access to shopping, dining, schools, and major roads.
The property is within walking distance of UTRGV and offers access to shopping, dining, schools, and major roads.
Key Highlights
- Four 2‑bedroom, 2‑bathroom residences
- 3,808 square feet
- New AC systems in all four units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,969
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$639,380
$639.4K
Cap Rate 7%
$456,700
$456.7K
Cap Rate 9%
$355,211
$355.2K
Market Conditions
NOI Build-Up for 3,808 SF
Gross rent
$59.9K $15.72/SF
− Vacancy
−$1.7K −$0.46/SF
EGI
$58.1K $15.26/SF
− OpEx
−$26.2K −$6.87/SF
NOI
$32.0K $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%
$639,380
Cap Rate 7%
$456,700
Cap Rate 9%
$355,211
Alternative Uses
Best Use
Multifamily LT 5
$511.1K
$447.2K – $596.2K
NOI $35,774 @ 7.0% cap · market cap 9.88%
Second Best
Apartment 5plus
$456.7K
$399.6K – $532.8K
NOI $31,969 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$988.1K
$864.6K – $1.15M
NOI $69,165 @ 7.0% cap · market cap 19.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
104
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Residents have in-unit laundry, tile flooring, and a kitchen equipped with essential appliances.
Where is this quadplex located?
The property is located at 1505 Prosperity Dr Edinburg, TX.
What is the asking price?
The asking price for this property is $362,000.
What are key features of this property?
This property features: Four 2‑bedroom, 2‑bathroom residences; 3,808 square feet; New AC systems in all four units
