New Edinburg Fourplex Investment
For Sale
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1321 Joscelyn Drive, Edinburg, TX 78539
Brand-new fourplex with high-end finishes, near UTRGV.
Property Size4,116 SF
Price / SF$133.62
Days on Market734
Property Features for 1321 Joscelyn Drive
General Information
Standard status
Active
Size
4,116 SF
Total Parking Spaces
8
Property subtype
Multifamily
Building Details
Year Built
2024
Buildings
2
Units
4
Listing Agency:
Encore Fine Properties
Listed By:
Avinaash Buxani · License #TREC # 0712106
(956) 949-9337
Source:
Crexi
Added: Oct 23, 2024
Changed: Oct 25
Last Checked: Oct 24 at 1:58PM
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 Encore Fine Properties
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Investment Insights
Based on property information with market context.
This newly constructed fourplex presents a prime investment opportunity. The property features two spacious 3-bed, 2-bath units and two stylish 2-bed, 2-bath units. Constructed with quality materials, each unit boasts high-end finishes, open floor plans, and energy-efficient features. The property is designed for low maintenance and strong tenant appeal. The exterior showcases a sleek, modern design complemented by contemporary landscaping. The units feature 10-foot ceilings. Located approximately 2 miles from UTRGV, the property is positioned to attract tenants. Projected rents are $1350 for the 3-bedroom units and $1200 for the 2-bedroom units. The property size is 4116 square feet.
Key Highlights
- Brand‑new construction (2024) with high‑end finishes.
- Prime investment opportunity: fourplex with two 3‑bed/2‑bath and two 2‑bed/2‑bath units.
- Close proximity to UTRGV (2 miles).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,667
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$773,340
$773.3K
Cap Rate 7%
$552,386
$552.4K
Cap Rate 9%
$429,633
$429.6K
Market Conditions
NOI Build-Up for 4,116 SF
Gross rent
$56.8K $13.80/SF
− Vacancy
−$1.6K −$0.38/SF
EGI
$55.2K $13.42/SF
− OpEx
−$16.6K −$4.03/SF
NOI
$38.7K $9.39/SF
Area
Edinburg, TX
Vacancy
2.75%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$773,340
Cap Rate 7%
$552,386
Cap Rate 9%
$429,633
Alternative Uses
Best Use
Multifamily LT 5
$552.4K
$483.3K – $644.5K
NOI $38,667 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$493.6K
$431.9K – $575.9K
NOI $34,555 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$1.07M
$934.5K – $1.25M
NOI $74,760 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
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Business Placement
Demographics for 78539, TX
37,686
Population
15,759
Households
2.4
Avg Household Size
34
Median Age
37%
College-Educated
84%
High-School Grad
12.2 sq mi
ZIP Area
3,089
Density / Sq Mi
$64,864
Median Household Income
$38,413
Median Earnings
$1,034
Median Rent
$198,300
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 - Brand-new fourplex with high-end finishes, near UTRGV.
Where is this quadplex located?
The property is located at 1321 Joscelyn Drive Edinburg, 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: Brand‑new construction (2024) with high‑end finishes.; Prime investment opportunity: fourplex with two 3‑bed/2‑bath and two 2‑bed/2‑bath units.; Close proximity to UTRGV (2 miles).
