Four-Unit Quadplex with
For Sale
$375,000
1620 Norma Lane, Edinburg, TX 78539
Residential Income, Edinburg, TX
Property Size3,920 SF
Lot Size0.33 Acres
Price / SF$95.66
Days on Market116
Property Features for 1620 Norma Lane
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
None
Exterior features
Mature Trees
Appliances
Electric Water Heater, Dryer, Refrigerator, Stove/Range, Washer
Subdivision
Citrus Estates #3
Lot features
Mature Trees
Elementary school
Adame
Middle school
Adams
High school
Agua Dulce H.S.
Elementary school district
Edinburg ISD
Middle school district
Edinburg ISD
High school district
Edinburg ISD
Directions
From 281 take exit on Freddy Gonzalez and head west, turn left onto Sugar, turn right onto John Ave, turn left onto Norma Ln. Property is on the left hand side.
Standard status
Active
APN
C485003000010500
Size
3,920 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6363
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Number of units
4
Building materials
Brick
Roof type
Shingle
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Added: Jun 10
Changed: Sep 14
Last Checked: Oct 3 at 4:06PM
MLS# 477776
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.
Built in 1980, this four-unit quadplex contains 3,920 square feet on a 0.3283-acre lot. Each residence is configured with two bedrooms and two bathrooms, with tile flooring and a practical appliance package that includes a washer, dryer, refrigerator, and stove/range. Brick construction, shingle roofing, central air, central electric heating, and an electric water heater serve the property. Public water is available, and mature trees add established exterior landscaping.
The property is located in Edinburg near Sugar Road and Freddy Gonzalez Drive, with Expressway 83, HEB, schools, and dining options identified nearby. The site has no designated parking features.
The property is located in Edinburg near Sugar Road and Freddy Gonzalez Drive, with Expressway 83, HEB, schools, and dining options identified nearby. The site has no designated parking features.
Key Highlights
- Four‑unit quadplex with 3,920 square feet
- Each unit includes 2 bedrooms and 2 bathrooms
- 0.3283‑acre lot in Edinburg, TX
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,909
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$658,180
$658.2K
Cap Rate 7%
$470,129
$470.1K
Cap Rate 9%
$365,656
$365.7K
Market Conditions
NOI Build-Up for 3,920 SF
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.
Gross rent
$61.6K $15.72/SF
− Vacancy
−$1.8K −$0.46/SF
EGI
$59.8K $15.26/SF
− OpEx
−$26.9K −$6.87/SF
NOI
$32.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$658,180
Cap Rate 7%
$470,129
Cap Rate 9%
$365,656
Alternative Uses
Best Use
Multifamily LT 5
$526.1K
$460.3K – $613.8K
NOI $36,826 @ 7.0% cap · market cap 9.82%
Second Best
Apartment 5plus
$470.1K
$411.4K – $548.5K
NOI $32,909 @ 7.0% cap · market cap 8.78%
Theoretical Best
Office A
$1.02M
$890.0K – $1.19M
NOI $71,200 @ 7.0% cap · market cap 18.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
Explore this area
Business Placement
Demographics for 78539, TX
37,686
Population
15,759
Households
2.4
Avg Household Size
34
Median Age
37%
College-Educated
84%
High-School Grad
12.2 sq mi
ZIP Area
3,089
Density / Sq Mi
$64,864
Median Household Income
$38,413
Median Earnings
$1,034
Median Rent
$198,300
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Brick multifamily property with consistent two-bedroom, two-bath layouts and in-unit laundry and kitchen appliances.
Where is this quadplex located?
The property is located at 1620 Norma Lane Edinburg, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,920 square feet; Each unit includes 2 bedrooms and 2 bathrooms; 0.3283‑acre lot in Edinburg, TX
