Four-Unit Residential Property with Island
2412 N 31st Lane, McAllen, TX 78501
For Sale
New
$328,500
Four separate residences offer open living areas, kitchen islands, and parking for as many as eight vehicles.
Property Size3,348 SF
Price / SF$98.12
Days on Market4
Property Features for 2412 N 31st Lane
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Mature Trees
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Jade Real Estate LLC
(956) 534-7917
Listed By:
Diana Segovia
(956) 321-9191
Source:
Dolcevitargv
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 9 at 5:23PM
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 Jade Real Estate LLC
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Investment Insights
Based on property information with market context.
Built in 2006, this fourplex contains four units with open-concept living areas. Each kitchen has natural wood cabinetry, substantial cabinet storage, and an L-shaped island. The property includes 3,348 square feet, and parking accommodates up to eight vehicles. Individual HVAC units have been replaced and are routinely maintained.
The property is at 2412 N 31st Lane in McAllen, near public city buildings, South Texas College, McAllen ISD schools, shopping centers, medical offices, and grocery stores. Ware Road and Pecan Boulevard are approximately two minutes away.
The property is at 2412 N 31st Lane in McAllen, near public city buildings, South Texas College, McAllen ISD schools, shopping centers, medical offices, and grocery stores. Ware Road and Pecan Boulevard are approximately two minutes away.
Key Highlights
- Fourplex with 3,348 square feet, built in 2006
- Four units with open‑concept living areas
- Kitchens include natural wood cabinetry and L‑shaped islands
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,802
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$556,040
$556.0K
Cap Rate 7%
$397,171
$397.2K
Cap Rate 9%
$308,911
$308.9K
Market Conditions
NOI Build-Up for 3,348 SF
Gross rent
$54.2K $16.20/SF
− Vacancy
−$3.7K −$1.10/SF
EGI
$50.5K $15.10/SF
− OpEx
−$22.7K −$6.79/SF
NOI
$27.8K $8.30/SF
Area
McAllen, TX
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$556,040
Cap Rate 7%
$397,171
Cap Rate 9%
$308,911
Alternative Uses
Best Use
Multifamily LT 5
$432.2K
$378.2K – $504.2K
NOI $30,252 @ 7.0% cap · market cap 9.21%
Second Best
Apartment 5plus
$397.2K
$347.5K – $463.4K
NOI $27,802 @ 7.0% cap · market cap 8.46%
Theoretical Best
Office A
$909.1K
$795.5K – $1.06M
NOI $63,639 @ 7.0% cap · market cap 19.37%
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
499
Businesses Nearby
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Business Placement
Demographics for 78501, TX
60,817
Population
24,807
Households
2.5
Avg Household Size
37
Median Age
27%
College-Educated
77%
High-School Grad
15.5 sq mi
ZIP Area
3,924
Density / Sq Mi
$49,451
Median Household Income
$29,092
Median Earnings
$943
Median Rent
$149,000
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in McAllen, TX
Properties on Market for Quadplexes in McAllen
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four separate residences offer open living areas, kitchen islands, and parking for as many as eight vehicles.
Where is this quadplex located?
The property is located at 2412 N 31st Lane McAllen, TX.
What is the asking price?
The asking price for this property is $328,500.
What are key features of this property?
This property features: Fourplex with 3,348 square feet, built in 2006; Four units with open‑concept living areas; Kitchens include natural wood cabinetry and L‑shaped islands
