2022-Built Quadplex with
New
For Sale
$485,000
5601 Puffin Avenue, McAllen, TX 78504
Residential Income, McAllen, TX
Property Size4,035 SF
Lot Size0.33 Acres
Price / SF$120.20
Days on Market4
Property Features for 5601 Puffin Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
Garage
Patio and Porch features
Patio
Exterior features
Sprinkler System
Fencing
Privacy
Appliances
Electric Water Heater, Water Heater (In Attic), Dryer, Microwave, Refrigerator, Stove/Range-Electric Smooth, Washer
Subdivision
Shary Manor
Lot features
Curb & Gutters, Sidewalks, Sprinkler System
Elementary school
Olivero Garza Sr.
Middle school
Sharyland North Junior
High school
Sharyland Pioneer H.S.
Elementary school district
Sharyland ISD
Middle school district
Sharyland ISD
High school district
Sharyland ISD
Directions
From 4 Mile line go North on Shary Rd. Subdivision is on the East side of street
Standard status
Active
APN
S295500000002900
Size
4,035 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11797
HOA Fee
$600 Annually
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2022
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Composition
Listing Agency:
Key Realty
(956) 627-7552
Listed By:
Preshina Samtani · License #617748
(956) 460-7763
Added: Sep 22
Last Checked: Sep 25 at 10:06AM
MLS# 515514
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.
Completed in 2022, this quadplex contains 4,035 square feet on a 0.3281-acre parcel. The property features stucco construction, composition roofing, privacy fencing, patios, and garage parking. Central electric heating and cooling serve the building, while the appliance package includes electric water heating, a washer, dryer, microwave, refrigerator, and electric smooth-top range.
Located at 5601 Puffin Avenue in McAllen, the property is served by public water and includes an exterior sprinkler system. The four-unit configuration places multiple residences within one recently built asset, with practical residential features incorporated throughout the property.
Located at 5601 Puffin Avenue in McAllen, the property is served by public water and includes an exterior sprinkler system. The four-unit configuration places multiple residences within one recently built asset, with practical residential features incorporated throughout the property.
Key Highlights
- Four‑unit quadplex completed in 2022
- 4,035 square feet on 0.3281 acres
- Stucco construction with composition roof
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
$36,460
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
7.52%
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%
$729,200
$729.2K
Cap Rate 7%
$520,857
$520.9K
Cap Rate 9%
$405,111
$405.1K
Market Conditions
NOI Build-Up for 4,035 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
$55.7K $13.80/SF
− Vacancy
−$3.6K −$0.89/SF
EGI
$52.1K $12.91/SF
− OpEx
−$15.6K −$3.87/SF
NOI
$36.5K $9.04/SF
Area
McAllen, TX
Vacancy
6.46%
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%
$729,200
Cap Rate 7%
$520,857
Cap Rate 9%
$405,111
Alternative Uses
Best Use
Multifamily LT 5
$520.9K
$455.8K – $607.7K
NOI $36,460 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$478.7K
$418.8K – $558.5K
NOI $33,507 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$1.10M
$958.7K – $1.28M
NOI $76,697 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
Explore this area
Business Placement
Demographics for 78504, TX
56,830
Population
21,417
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
86%
High-School Grad
19.6 sq mi
ZIP Area
2,899
Density / Sq Mi
$77,627
Median Household Income
$41,632
Median Earnings
$1,178
Median Rent
$203,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily property with stucco construction, garage parking, patios, and central electric heating and cooling.
Where is this quadplex located?
The property is located at 5601 Puffin Avenue McAllen, TX.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Four‑unit quadplex completed in 2022; 4,035 square feet on 0.3281 acres; Stucco construction with composition roof
