Fourplex with Private
For Sale
$535,000
5609 Sandpiper Ave, McAllen, TX 78501
Four 3-bedroom, 2-bath units with in-unit laundry, private fenced backyards, and covered parking within a gated community.
Property Size4,320 SF
Price / SF$123.84
Days on Market94
Property Features for 5609 Sandpiper Ave
General Information
Standard status
Active
Size
4,320 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Additional Details
Fenced Yard
Yes
Multifamily Units
4
Amenities
gated community
granite countertops
custom cabinetry
stainless steel appliances
in-unit washer/dryer
private fenced backyards
Building Details
Year Built
2022
Tenancy
Multi
Listing Agency:
eXp Realty LLC
Listed By:
Dara Herrera
(888) 519-7431
Source:
Aregtx
Added: Jul 21
Changed: Oct 4
Last Checked: Oct 7 at 1:50PM
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 eXp Realty LLC
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Investment Insights
Based on property information with market context.
This fourplex in the gated community of Shary Manor offers four spacious 3-bedroom, 2-bath residences. Each unit features an open-concept layout with granite countertops, custom cabinetry, stainless steel appliances, and an in-unit washer/dryer. Outside, every unit includes a private fenced backyard, and the property provides covered parking with 8 covered spaces total.
The property is in Sharyland ISD and is described as being near shopping and dining. Current rents are noted as below market, with comparable properties in the area supporting rents of $1,200+ per month, and tenants are responsible for utilities.
Overall, this is a low-maintenance, income-producing asset with consistent unit features and covered parking that can support an investor seeking value-add through rent improvement.
The property is in Sharyland ISD and is described as being near shopping and dining. Current rents are noted as below market, with comparable properties in the area supporting rents of $1,200+ per month, and tenants are responsible for utilities.
Overall, this is a low-maintenance, income-producing asset with consistent unit features and covered parking that can support an investor seeking value-add through rent improvement.
Key Highlights
- 2022‑built four‑plex in Sharyland ISD within the gated community of Shary Manor
- Four units total: each offers 3 bedrooms and 2 bathrooms with open‑concept layouts
- In each unit: granite countertops, custom cabinetry, stainless steel appliances, and in‑unit washer/dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,035
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$780,700
$780.7K
Cap Rate 7%
$557,643
$557.6K
Cap Rate 9%
$433,722
$433.7K
Market Conditions
NOI Build-Up for 4,320 SF
Gross rent
$59.6K $13.80/SF
− Vacancy
−$3.9K −$0.89/SF
EGI
$55.8K $12.91/SF
− OpEx
−$16.7K −$3.87/SF
NOI
$39.0K $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 Rate 5%
$780,700
Cap Rate 7%
$557,643
Cap Rate 9%
$433,722
Alternative Uses
Best Use
Multifamily LT 5
$557.6K
$487.9K – $650.6K
NOI $39,035 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$512.5K
$448.4K – $597.9K
NOI $35,874 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,115 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Explore this area
Business Placement
Demographics for 78501, TX
60,817
Population
24,807
Households
2.5
Avg Household Size
37
Median Age
27%
College-Educated
77%
High-School Grad
15.5 sq mi
ZIP Area
3,924
Density / Sq Mi
$49,451
Median Household Income
$29,092
Median Earnings
$943
Median Rent
$149,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four 3-bedroom, 2-bath units with in-unit laundry, private fenced backyards, and covered parking within a gated community.
Where is this quadplex located?
The property is located at 5609 Sandpiper Ave McAllen, TX.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: 2022‑built four‑plex in Sharyland ISD within the gated community of Shary Manor; Four units total: each offers 3 bedrooms and 2 bathrooms with open‑concept layouts; In each unit: granite countertops, custom cabinetry, stainless steel appliances, and in‑unit washer/dryer
