Fully Occupied
For Sale
$479,900
406 Peabody Avenue, Edinburg, TX 78539
Residential Income, Edinburg, TX
Property Size3,960 SF
Lot Size0.23 Acres
Price / SF$121.19
Days on Market113
Property Features for 406 Peabody Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
Garage
Exterior features
Mature Trees
Fencing
Privacy
Appliances
Electric Water Heater, Water Heater (Other Location)
Subdivision
Mon Mack Landing
Lot features
Curb & Gutters
Elementary school
Trevino
Middle school
South Middle School
High school
Vela H.S.
Elementary school district
Edinburg ISD
Middle school district
Edinburg ISD
High school district
Edinburg ISD
Directions
From 10th St and W SPRAGUE ST head EAST on W SPRAGUE ST; head NORTH on MON MACK RD; turn WEST on GARFIELD; head NORTH on PEABODY AVENUE; Multiplex is on the EAST side.
Standard status
Active
APN
M566501000008200
Size
3,960 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
11746
HOA Fee
$500 Annually
Utilities
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2018
Floors in Building
1
Number of units
4
Building materials
Stone
Roof type
Composition
Listing Agency:
Glass Realty
(956) 331-9329
Listed By:
Antonio Gabriel Villeda · License #801067833
(956) 878-9434
Added: May 14
Changed: Aug 21
Last Checked: Sep 3 at 3:06PM
MLS# 476724
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 2018, this 3,960-square-foot quadplex contains four 990-square-foot residences. The unit mix includes two three-bedroom, two-bath layouts and two two-bedroom, two-bath layouts. All four units are occupied, and the property is in good condition with stone construction, composition roofing, mature trees, privacy fencing, and garage parking. Each residence is served by central electric heating and central air conditioning, with public water service and electric water heating.
The property sits on 0.2314 acres in Edinburg, with access to North McAllen and nearby commercial destinations including Best Buy, Domain Plaza, and HEB. Its established residential setting and consistent four-unit configuration provide a straightforward multifamily layout for investors seeking an occupied income property.
The property sits on 0.2314 acres in Edinburg, with access to North McAllen and nearby commercial destinations including Best Buy, Domain Plaza, and HEB. Its established residential setting and consistent four-unit configuration provide a straightforward multifamily layout for investors seeking an occupied income property.
Key Highlights
- Fully occupied fourplex with 3,960 square feet of living area
- Unit mix includes two 3‑bedroom, 2‑bath units and two 2‑bedroom, 2‑bath units
- Each residence measures 990 living SF
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
$37,202
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
7.75%
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%
$744,040
$744.0K
Cap Rate 7%
$531,457
$531.5K
Cap Rate 9%
$413,356
$413.4K
Market Conditions
NOI Build-Up for 3,960 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
$54.6K $13.80/SF
− Vacancy
−$1.5K −$0.38/SF
EGI
$53.1K $13.42/SF
− OpEx
−$15.9K −$4.03/SF
NOI
$37.2K $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%
$744,040
Cap Rate 7%
$531,457
Cap Rate 9%
$413,356
Alternative Uses
Best Use
Multifamily LT 5
$531.5K
$465.0K – $620.0K
NOI $37,202 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$474.9K
$415.6K – $554.1K
NOI $33,245 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$1.03M
$899.1K – $1.20M
NOI $71,926 @ 7.0% cap · market cap 14.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Explore this area
Business Placement
Demographics for 78539, TX
37,686
Population
15,759
Households
2.4
Avg Household Size
34
Median Age
37%
College-Educated
84%
High-School Grad
12.2 sq mi
ZIP Area
3,089
Density / Sq Mi
$64,864
Median Household Income
$38,413
Median Earnings
$1,034
Median Rent
$198,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four well-maintained residential units with varied floor plans, private fencing, garages, and central heating and cooling.
Where is this quadplex located?
The property is located at 406 Peabody Avenue Edinburg, TX.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Fully occupied fourplex with 3,960 square feet of living area; Unit mix includes two 3‑bedroom, 2‑bath units and two 2‑bedroom, 2‑bath units; Each residence measures 990 living SF
