New Edinburg Fourplex Investment
1321 Joscelyn Drive Edinburg, TX 78539
For Sale
Contact for pricing
Brand-new fourplex with high-end finishes, near UTRGV.
Property Size4,116 SF
Price / SF$133.62
Days on Market643
Property Features for 1321 Joscelyn Drive
General Information
- Standard status
- Active
- Size
- 4,116 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2024
Listing Agency:
Encore Fine Properties
(956) 821-6170
Listed By:
Avinaash Buxani · License #TREC # 0712106
Source:
Crexi
Added: Oct 23, 2024
Changed: Jul 6
Last Checked: Jul 26 at 4:49AM
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 For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.8k | $13.80 |
| − Vacancy | −$1.6k | −$0.38 |
| EGI | $55.2k | $13.42 |
| − OpEx | −$16.6k | −$4.03 |
| NOI | $38.7k | $9.39 |
4,116 SF · lease $13.80/SF/yr · vacancy 2.75% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
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).
