Modern Gated
For Sale
$550,000
5909 Sandpiper Avenue, McAllen, TX 78504
Residential Income, McAllen, TX
Property Size4,320 SF
Lot Size0.26 Acres
Price / SF$127.31
Days on Market77
Property Features for 5909 Sandpiper Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Garage
Patio and Porch features
Patio
Appliances
Electric Water Heater, Water Heater (Programmable thermostat), Water Heater (Other Location), Dryer, Microwave, Refrigerator, Stove/Range, Washer
Subdivision
Shary Manor
Lot features
Curb & Gutters, Sidewalks
Elementary school
Wernecke
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 Expressway 83, head north on Shary Rd and continue past Mile 4. The entrance to Shary Manor subdivision will be on the east side just past Mile 4 1/2. Turn into the subdivision, continue on Sandpiper Ave, and follow the road to the property.
Standard status
Active
APN
S295500000004700
Size
4,320 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10617
HOA Fee
$600 Annually
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
gated
ceramic tile flooring
granite countertops
custom cabinetry
oversized kitchen islands
stainless steel appliances
washer
dryer
private fenced backyard
covered parking
Building Details
Year built
2022
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Composition
Listing Agency:
Zapphire Real Estate Group
(956) 600-7494
Listed By:
Glenda Pecina
(956) 579-2276
Added: Jul 4
Changed: Aug 19
Last Checked: Sep 18 at 5:06AM
MLS# 503765
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 2022, this gated quadplex contains four 3-bedroom, 2-bath residences within 4,320 square feet on 0.2583 acres. Each unit offers an open-concept plan with ceramic tile floors, granite countertops, custom cabinetry, and an oversized kitchen island. Stainless steel appliances, a washer, and a dryer are included in every residence.
The property is located at 5909 Sandpiper Avenue in McAllen, within Sharyland ISD. Each unit has a private fenced backyard, patio, and covered parking with garage features. Central heating, central air conditioning, public water service, stucco construction, and a composition roof complete the property improvements. All four units are currently rented.
The property is located at 5909 Sandpiper Avenue in McAllen, within Sharyland ISD. Each unit has a private fenced backyard, patio, and covered parking with garage features. Central heating, central air conditioning, public water service, stucco construction, and a composition roof complete the property improvements. All four units are currently rented.
Key Highlights
- Four 3‑bedroom, 2‑bath units in a gated quadplex
- 4,320 square feet on a 0.2583‑acre lot
- Built in 2022 with stucco construction and a 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
$39,035
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
7.10%
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%
$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
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
$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 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%
$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 7.10%
Second Best
Apartment 5plus
$512.5K
$448.4K – $597.9K
NOI $35,874 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,115 @ 7.0% cap · market cap 14.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
97
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
View Realmo Analytics
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 contemporary rental units feature private outdoor space, covered parking, and upgraded interior finishes.
Where is this quadplex located?
The property is located at 5909 Sandpiper Avenue McAllen, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four 3‑bedroom, 2‑bath units in a gated quadplex; 4,320 square feet on a 0.2583‑acre lot; Built in 2022 with stucco construction and a composition roof
