Four-Unit
For Sale
Contact for pricing
3621 Joby Street, Edinburg, TX 78541
Residential income property near schools and local businesses in Edinburg.
Property Size4,050 SF
Price / SF$96.05
Days on Market213
Property Features for 3621 Joby Street
General Information
Standard status
Active
Size
4,050 SF
Total Parking Spaces
2
Property subtype
Multifamily
Additional Details
Multifamily Units
4
Building Details
Year Built
2004
Buildings
1
Units
4
Listing Agency:
Realty Executives
(512) 745-7777
Listed By:
Roman Esparza · License #0481820
Source:
Crexi
Added: Jan 31
Changed: Aug 30
Last Checked: Aug 30 at 5:39PM
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 Realty Executives
Investment Insights
Based on property information with market context.
This four-unit residential income property contains 4,050 square feet and was built in 2004. The quadplex configuration provides four separate residential units within one investment property.
Located at 3621 Joby Street in Edinburg, Texas, the property is near schools and businesses, providing access to nearby education and commercial services.
Located at 3621 Joby Street in Edinburg, Texas, the property is near schools and businesses, providing access to nearby education and commercial services.
Key Highlights
- Four‑unit quadplex configuration
- 4,050 square feet of property size
- Built in 2004
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
$34,001
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
8.74%
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%
$680,020
$680.0K
Cap Rate 7%
$485,729
$485.7K
Cap Rate 9%
$377,789
$377.8K
Market Conditions
NOI Build-Up for 4,050 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
$63.7K $15.72/SF
− Vacancy
−$1.8K −$0.46/SF
EGI
$61.8K $15.26/SF
− OpEx
−$27.8K −$6.87/SF
NOI
$34.0K $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%
$680,020
Cap Rate 7%
$485,729
Cap Rate 9%
$377,789
Alternative Uses
Best Use
Multifamily LT 5
$543.5K
$475.6K – $634.1K
NOI $38,047 @ 7.0% cap · market cap 9.78%
Second Best
Apartment 5plus
$485.7K
$425.0K – $566.7K
NOI $34,001 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$1.05M
$919.5K – $1.23M
NOI $73,561 @ 7.0% cap · market cap 18.91%
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
67
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 - Residential income property near schools and local businesses in Edinburg.
Where is this quadplex located?
The property is located at 3621 Joby Street Edinburg, TX.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Four‑unit quadplex configuration; 4,050 square feet of property size; Built in 2004
