San Juan Fourplex Investment
221 Rafael Drive San Juan, TX 78589
221 Rafael Drive, San Juan, TX, 78589
$509,000
For Sale
$509,000
MULTI_FAMILY - San Juan, TX
Property Size4,286 SF
Lot Size0.24 Acres
Price / SF$118.76
Days on Market170
Property Features for 221 Rafael Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 8
- Parking features
- Other
- Patio and Porch features
- Patio
- Appliances
- Electric Water Heater, Microwave, Refrigerator, Stove/Range-Electric Smooth
- Standard status
- Active
- APN
- C192400000010400
- Size
- 4,286 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 12309
Utilities
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 2022
- Floors in Building
- 1
- Number of units
- 4
- Building materials
- Stone, Stucco
- Roof type
- Composition
Listing agency
Key Realty
(956) 627-7552
Listed by
Preshina Samtani
(956) 460-7763
Added: Feb 2 Updated: Jun 9 at 1:02PM Checked: Jul 22 at 12:06PM
MLS# 488078
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.
This fully leased fourplex is located one block from the Expressway in the gated Carroll Estates subdivision in San Juan, Texas. The property, situated on a 0.2395-acre lot, offers immediate and dependable income, making it an ideal turnkey investment. The fourplex features a total of 4,286 square feet. It comprises two 2-bedroom, 2-bath units and two 3-bedroom, 2-bath units. Each unit includes tile flooring, quartz countertops, stainless steel appliances, and covered carport parking. Three units are currently leased, while one vacant unit can be used to live in or provide potential rent.
Key Highlights
- 2022‑built fully leased 4‑plex in a gated subdivision (Carroll Estates) in San Juan
- Unit mix: two 2 bed / 2 bath and two 3 bed / 2 bath units
- Three units currently leased; one unit is vacant and could be used to live in to potentially increase rent
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.2k | $14.04 |
| − Vacancy | −$6.6k | −$1.55 |
| EGI | $53.5k | $12.49 |
| − OpEx | −$16.1k | −$3.75 |
| NOI | $37.5k | $8.74 |
4,286 SF · lease $14.04/SF/yr · vacancy 11.02% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$535.4K
$468.5K – $624.7K
NOI $37,481 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$493.0K
$431.4K – $575.2K
NOI $34,509 @ 7.0% cap · market cap 6.78%
Theoretical Best
Hotel Hospitality
$3.23M
$2.82M – $3.77M
NOI $225,979 @ 7.0% cap · market cap 44.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fully leased fourplex in gated community near expressway.
Where is this quadplex located?
The property is located at 221 Rafael Drive San Juan, TX.
What is the asking price?
The asking price for this property is $509,000.
What are key features of this property?
This property features: 2022‑built fully leased 4‑plex in a gated subdivision (Carroll Estates) in San Juan; Unit mix: two 2 bed / 2 bath and two 3 bed / 2 bath units; Three units currently leased; one unit is vacant and could be used to live in to potentially increase rent
