Leased Fourplex with Private
New
For Sale
$399,000
613 La Mancha Dr, Edinburg, TX 78541
Fully leased fourplex with tile-finished units, separate entrances, private outdoor areas, and tenant-paid water and electricity.
Property Size3,944 SF
Price / SF$101.17
Days on Market3
Property Features for 613 La Mancha Dr
General Information
Standard status
Active
Size
3,944 SF
Property subtype
Multi-Family
Building Details
Year Built
2004
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Mario E. Baez · License #616428
Source:
Aregtx
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 7 at 3:45AM
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
Investment Insights
Based on property information with market context.
Built in 2004, this 3,944-square-foot fourplex is fully leased and configured with four individual residential units. Each unit has tile flooring, front and rear entrances, a private patio, a built-in desk, and a generously sized kitchen with substantial counter space. The improvements emphasize durable finishes and practical day-to-day functionality.
The property is located at 613 La Mancha Dr in Edinburg, near UTRGV and the business corridor along University Drive. Retail, dining, and major employers are also described as being nearby. Tenants pay their own water and electricity, while the owner responsibilities identified for the property include grass trimming, trash bins, and a common-area light meter.
The property is located at 613 La Mancha Dr in Edinburg, near UTRGV and the business corridor along University Drive. Retail, dining, and major employers are also described as being nearby. Tenants pay their own water and electricity, while the owner responsibilities identified for the property include grass trimming, trash bins, and a common-area light meter.
Key Highlights
- Fourplex totaling 3,944 square feet
- Fully leased property built in 2004
- Each unit includes front and rear entrances plus a private patio
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
$33,111
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
8.30%
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%
$662,220
$662.2K
Cap Rate 7%
$473,014
$473.0K
Cap Rate 9%
$367,900
$367.9K
Market Conditions
NOI Build-Up for 3,944 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
$62.0K $15.72/SF
− Vacancy
−$1.8K −$0.46/SF
EGI
$60.2K $15.26/SF
− OpEx
−$27.1K −$6.87/SF
NOI
$33.1K $8.40/SF
Area
Edinburg, TX
Vacancy
2.90%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$662,220
Cap Rate 7%
$473,014
Cap Rate 9%
$367,900
Alternative Uses
Best Use
Multifamily LT 5
$529.3K
$463.1K – $617.5K
NOI $37,051 @ 7.0% cap · market cap 9.29%
Second Best
Apartment 5plus
$473.0K
$413.9K – $551.9K
NOI $33,111 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$1.02M
$895.5K – $1.19M
NOI $71,636 @ 7.0% cap · market cap 17.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
418
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased fourplex with tile-finished units, separate entrances, private outdoor areas, and tenant-paid water and electricity.
Where is this quadplex located?
The property is located at 613 La Mancha Dr Edinburg, TX.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Fourplex totaling 3,944 square feet; Fully leased property built in 2004; Each unit includes front and rear entrances plus a private patio
