New Edinburg Fourplex Investment
For Sale
Contact for pricing
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 Market688
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) 821-6170
Source:
Crexi
Added: Oct 23, 2024
Changed: Aug 31
Last Checked: Sep 9 at 8:43AM
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
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 = 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
$38,667
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
7.03%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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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).
