Four-Unit Quadplex with New
For Sale
$362,000
1505 Prosperity Drive, Edinburg, TX 78541
Residential Income, Edinburg, TX
Property Size3,808 SF
Lot Size0.22 Acres
Price / SF$95.06
Days on Market48
Property Features for 1505 Prosperity Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
Other
Appliances
Electric Water Heater, Gas Cooktop, Dryer, Convection Oven, Refrigerator, Stove/Range, Washer
Subdivision
Queens Ridge Estates
Lot features
Sidewalks
Elementary school
Truman
Middle school
Garza
High school
Edinburg H.S.
Elementary school district
Edinburg ISD
Middle school district
Edinburg ISD
High school district
Edinburg ISD
Directions
Located off N Sugar Rd & Chapin St
Standard status
Active
APN
Q307000000000300
Size
3,808 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8432
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
washer/dryer
refrigerator
gas stove
microwave
oven
air conditioning
Building Details
Year built
2005
Floors in Building
1
Number of units
4
Building materials
Brick
Roof type
Slate
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Alyss Alvarez
(956) 566-8377
Added: Sep 17
Changed: Oct 2
Last Checked: Nov 3 at 9:06AM
MLS# 515560
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.
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Investment Insights
Based on property information with market context.
Built in 2005, this 3,808-square-foot brick quadplex contains four residential units, each with two bedrooms and two bathrooms. The interiors feature tile flooring, central heating and central air, plus individual washers and dryers. Kitchen appliances include a refrigerator, gas cooktop, convection oven, and stove/range, with an electric water heater serving the property. New AC systems are installed in all four units.
The property occupies 0.2218 acres at 1505 Prosperity Drive in Edinburg, Texas. UTRGV is within walking distance, and the address provides access to shopping, dining, schools, major roads, and nearby amenities. Slate roofing completes the building improvements.
The property occupies 0.2218 acres at 1505 Prosperity Drive in Edinburg, Texas. UTRGV is within walking distance, and the address provides access to shopping, dining, schools, major roads, and nearby amenities. Slate roofing completes the building improvements.
Key Highlights
- Four‑unit quadplex with four 2‑bedroom, 2‑bathroom residences
- 3,808 square feet on a 0.2218‑acre lot
- Brand‑new AC systems installed 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.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
104
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Brick fourplex with in-unit laundry, tile floors, and central air throughout.
Where is this quadplex located?
The property is located at 1505 Prosperity Drive 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‑unit quadplex with four 2‑bedroom, 2‑bathroom residences; 3,808 square feet on a 0.2218‑acre lot; Brand‑new AC systems installed in all four units
