Fully Leased
For Sale
$399,000
613 La Mancha Drive, Edinburg, TX 78541
MULTI_FAMILY - Edinburg, TX
Property Size3,944 SF
Lot Size0.26 Acres
Price / SF$101.17
Days on Market63
Property Features for 613 La Mancha Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
None
Patio and Porch features
Patio
Exterior features
Mature Trees, Sprinkler System
Fencing
Privacy
Appliances
Electric Water Heater, Dryer, Refrigerator, Stove/Range, Washer
Subdivision
Los Molinos
Lot features
Curb & Gutters, Mature Trees, Professional Landscaping, Sidewalks
Elementary school
De La Vina
Middle school
B.L. Gray Junior High
High school
Edinburg North H.S.
Elementary school district
Edinburg ISD
Middle school district
Edinburg ISD
High school district
Edinburg ISD
Directions
Drive North on McColl Rd, pass University Dr. 107 and turn to the right on W Schunior, then right on La Mancha.
Standard status
Active
APN
L626901000002200
Size
3,944 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8760
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2004
Floors in Building
1
Number of units
4
Building materials
Brick
Roof type
Composition
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Mario E. Baez · License #616428
(956) 827-0170
Added: Jun 29
Changed: Aug 13
Last Checked: Aug 30 at 12:06AM
MLS# 481186
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.
This fully leased quadplex at 613 La Mancha Drive is a well-kept, low-maintenance investment built in 2004. The property includes four units with all-tile flooring, front and back entrances, private patios, built-in desks, and large kitchens with ample counter space. Tenants pay their own water and electricity, and the owner’s upkeep is described as grass trimming, trash bin service, and a common-area light meter.
The quadplex sits on a 0.2603-acre lot and has a total property size of 3,944 square feet. Exterior features include mature trees and a sprinkler system, with privacy fencing around the property. The building is constructed of brick, with a composition roof, electric water heater, and central heating and cooling with electric heating.
Unit amenities listed include washer, dryer, refrigerator, and stove/range. Showings are by tenant convenience, and a pre-qualification letter is required prior to scheduling.
The quadplex sits on a 0.2603-acre lot and has a total property size of 3,944 square feet. Exterior features include mature trees and a sprinkler system, with privacy fencing around the property. The building is constructed of brick, with a composition roof, electric water heater, and central heating and cooling with electric heating.
Unit amenities listed include washer, dryer, refrigerator, and stove/range. Showings are by tenant convenience, and a pre-qualification letter is required prior to scheduling.
Key Highlights
- Fully leased fourplex with four units described as all‑tile and easy to maintain
- Tenants pay their own water and electricity; owner upkeep described as grass trimming, trash bin, and a common‑area light meter
- 0.2603‑acre lot with 3,944 square feet total property size
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
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
358
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 - Brick quadplex built in 2004 with private patios, tile flooring, and front and back unit entrances.
Where is this quadplex located?
The property is located at 613 La Mancha Drive 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: Fully leased fourplex with four units described as all‑tile and easy to maintain; Tenants pay their own water and electricity; owner upkeep described as grass trimming, trash bin, and a common‑area light meter; 0.2603‑acre lot with 3,944 square feet total property size
