2023 Four-Unit
New
For Sale
$425,000
3702 W Zelma Street, Edinburg, TX 78541
Residential Income, Edinburg, TX
Property Size4,032 SF
Lot Size0.23 Acres
Price / SF$105.41
Days on Market2
Property Features for 3702 W Zelma Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
None
Fencing
Privacy
Appliances
Electric Water Heater, Oven-Microwave, Stove/Range-Electric Smooth
Subdivision
Mon Mack Terrace #2
Elementary school
Flores-Zapata
Middle school
B.L. Garza
High school
Edinburg H.S.
Elementary school district
Edinburg ISD
Middle school district
Edinburg ISD
High school district
Edinburg ISD
Directions
From University Street "Highway 107" and Monmack, drive North on Monmack past Schunior Road. Passing Schunior Road, Zelma Street will be on your left. Apartment 4-plex will be on your left hand side
Standard status
Active
APN
M572002000002200
Size
4,032 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8605
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
2023
Floors in Building
1
Number of units
4
Building materials
Brick
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Maggie Harris · License #TREC#0530155
(956) 821-9990
Added: Sep 18
Last Checked: Sep 19 at 9:06PM
MLS# 515719
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.
Built in 2023, this four-unit residential income property contains 4,032 square feet across a 0.2324-acre site. Each residence includes tile flooring, spacious cabinets, and an appliance package with an electric water heater, oven-microwave, and electric smooth-top range. Central air conditioning and electric central heating serve the building, which is constructed with brick and enclosed by privacy fencing.
All four units are currently leased. The property is located at 3702 W Zelma Street in Edinburg, near UTRGV, shopping centers, and restaurants. There is no designated on-site parking, and the property is within the 78541 postal code.
All four units are currently leased. The property is located at 3702 W Zelma Street in Edinburg, near UTRGV, shopping centers, and restaurants. There is no designated on-site parking, and the property is within the 78541 postal code.
Key Highlights
- Four‑unit quadplex built in 2023
- 4,032 square feet on a 0.2324‑acre site
- All units currently leased
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
$37,878
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
8.91%
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%
$757,560
$757.6K
Cap Rate 7%
$541,114
$541.1K
Cap Rate 9%
$420,867
$420.9K
Market Conditions
NOI Build-Up for 4,032 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
$55.6K $13.80/SF
− Vacancy
−$1.5K −$0.38/SF
EGI
$54.1K $13.42/SF
− OpEx
−$16.2K −$4.03/SF
NOI
$37.9K $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%
$757,560
Cap Rate 7%
$541,114
Cap Rate 9%
$420,867
Alternative Uses
Best Use
Multifamily LT 5
$541.1K
$473.5K – $631.3K
NOI $37,878 @ 7.0% cap · market cap 8.91%
Second Best
Apartment 5plus
$483.6K
$423.1K – $564.2K
NOI $33,850 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$1.05M
$915.4K – $1.22M
NOI $73,234 @ 7.0% cap · market cap 17.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased quadplex with tile flooring, generous cabinetry, and appliances included in every unit.
Where is this quadplex located?
The property is located at 3702 W Zelma Street Edinburg, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 2023; 4,032 square feet on a 0.2324‑acre site; All units currently leased
