Detached Fourplex with Covered
For Sale
Contact for pricing
1921 Horsetail Falls, Edinburg, TX 78539
Four separate residences feature open layouts, private patios, dedicated covered parking, and in-unit laundry equipment.
Property Size3,696 SF
Price / SF$109.58
Days on Market176
Property Features for 1921 Horsetail Falls
General Information
Standard status
Active
Size
3,696 SF
Total Parking Spaces
8
Property subtype
Multifamily
Units
Unit Mix
4 x 2BR/2.5BA
Multifamily Units
4
Amenities
washer & dryer
fenced private patio
Building Details
Year Built
2009
Buildings
2
Units
4
Listing Agency:
JSL Living Real Estate
(956) 715-0869
Listed By:
Jessica Saenz-Luna · License #0696073
Source:
Crexi
Added: Mar 7
Changed: Aug 30
Last Checked: Aug 30 at 1:08AM
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 JSL Living Real Estate
Investment Insights
Based on property information with market context.
This 2009-built fourplex contains 3,696 square feet across four detached residences. Each apartment offers two bedrooms, 2-1/2 bathrooms, an open-concept living arrangement, ceramic tile flooring, and a fenced patio. Interior features include granite kitchen countertops, a refrigerator, glass-top stove, washer and dryer, and a built-in desk. Two master bedrooms provide private full bathrooms with tub-and-shower combinations and single vanities, while a half-bath serves the living area.
The property is located in Edinburg near UTRGV, retail stores, restaurants, and everyday services. A covered two-car carport provides designated parking. Two units are already leased, providing existing tenancy at the time of sale.
The property is located in Edinburg near UTRGV, retail stores, restaurants, and everyday services. A covered two-car carport provides designated parking. Two units are already leased, providing existing tenancy at the time of sale.
Key Highlights
- Four detached apartment residences totaling 3,696 SF
- Each unit includes 2 bedrooms and 2‑1/2 bathrooms
- Built in 2009 with ceramic tile flooring throughout
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
$34,722
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
8.57%
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%
$694,440
$694.4K
Cap Rate 7%
$496,029
$496.0K
Cap Rate 9%
$385,800
$385.8K
Market Conditions
NOI Build-Up for 3,696 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
$51.0K $13.80/SF
− Vacancy
−$1.4K −$0.38/SF
EGI
$49.6K $13.42/SF
− OpEx
−$14.9K −$4.03/SF
NOI
$34.7K $9.39/SF
Area
Edinburg, TX
Vacancy
2.75%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$694,440
Cap Rate 7%
$496,029
Cap Rate 9%
$385,800
Alternative Uses
Best Use
Multifamily LT 5
$496.0K
$434.0K – $578.7K
NOI $34,722 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$443.3K
$387.9K – $517.2K
NOI $31,029 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$959.0K
$839.1K – $1.12M
NOI $67,131 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
832
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four separate residences feature open layouts, private patios, dedicated covered parking, and in-unit laundry equipment.
Where is this quadplex located?
The property is located at 1921 Horsetail Falls Edinburg, TX.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Four detached apartment residences totaling 3,696 SF; Each unit includes 2 bedrooms and 2‑1/2 bathrooms; Built in 2009 with ceramic tile flooring throughout
