2021 Brick
For Sale
$480,000
2602 Primrose Ave., Edinburg, TX 78541
Residential Income, Edinburg, TX
Property Size4,710 SF
Lot Size0.32 Acres
Price / SF$101.91
Days on Market136
Property Features for 2602 Primrose Ave.
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R
Bedrooms
10
Bathrooms
10
Full bathrooms
10
Rooms
Bathroom 1, Bathroom 8, Bathroom 4, Bathroom 10, Bedroom 1, Bedroom 9, Bathroom 9, Bedroom 7, Bedroom 4, Bathroom 7, Bedroom 10, Bedroom 3, Bedroom 2, Bedroom 8, Bathroom 5, Bathroom 3, Bedroom 5, Bathroom 2, Bathroom 6, Bedroom 6
Pets allowed
No
Interior features
Smoke Detector, Washer/Dryer Hook-up
Appliances
Refrigerator, Stove, Washer/Dryer
Subdivision
McColl Manor
Elementary school district
Edinburg CISD
Middle school district
Edinburg CISD
High school district
Edinburg CISD
Standard status
Active
Size
4,710 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11970
Building Details
Year built
2021
Floors in Building
2
Number of units
4
Flooring type
Tile
Building materials
Brick
Roof type
Composition
Listing Agency:
RE/MAX Elite · RE/MAX International
(956) 433-5648
Listed By:
Vanessa Alaniz · License #772079
(512) 573-2010
Added: Apr 17
Changed: Aug 20
Last Checked: Aug 30 at 4:06PM
MLS# 106135
Copyright © 2026 South Padre Island Board 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.
Completed in 2021, this brick quadplex contains 4,710 square feet on a 0.32-acre parcel. The property includes 10 bedrooms and 10 bathrooms, with tile flooring, composition roofing, smoke detectors, and washer/dryer hookups. Refrigerators, stoves, and washers/dryers are included, supporting established residential operations. Zoning is R, and occupancy is reported at 100%.
The property is located in Edinburg near URGV, the Hidalgo County Courthouse, shopping centers, hospitals, and major highways. Its address is 2602 Primrose Ave., Edinburg, TX 78541. The combination of recent construction, full occupancy, and included appliances provides a clearly defined multifamily asset with existing residential use.
The property is located in Edinburg near URGV, the Hidalgo County Courthouse, shopping centers, hospitals, and major highways. Its address is 2602 Primrose Ave., Edinburg, TX 78541. The combination of recent construction, full occupancy, and included appliances provides a clearly defined multifamily asset with existing residential use.
Key Highlights
- 4,710‑square‑foot quadplex on 0.32 acres
- Built in 2021 with brick construction and composition roof
- 10 bedrooms and 10 bathrooms
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
$39,542
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
8.24%
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%
$790,840
$790.8K
Cap Rate 7%
$564,886
$564.9K
Cap Rate 9%
$439,356
$439.4K
Market Conditions
NOI Build-Up for 4,710 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
$74.0K $15.72/SF
− Vacancy
−$2.1K −$0.46/SF
EGI
$71.9K $15.26/SF
− OpEx
−$32.4K −$6.87/SF
NOI
$39.5K $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%
$790,840
Cap Rate 7%
$564,886
Cap Rate 9%
$439,356
Alternative Uses
Best Use
Multifamily LT 5
$632.1K
$553.1K – $737.5K
NOI $44,247 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$564.9K
$494.3K – $659.0K
NOI $39,542 @ 7.0% cap · market cap 8.24%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,549 @ 7.0% cap · market cap 17.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
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
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 - Fully occupied four-unit property with tile flooring, in-unit appliance packages, and washer/dryer hookups.
Where is this quadplex located?
The property is located at 2602 Primrose Ave. Edinburg, TX.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 4,710‑square‑foot quadplex on 0.32 acres; Built in 2021 with brick construction and composition roof; 10 bedrooms and 10 bathrooms
