$620,000

1408 E Iris Ave McAllen, TX 78501

Estimated payment $4,308/month

Total Views 264
-- Bed
-- Bath
4,500 Sq Ft
$138 Price per Sq Ft

Highlights

  • Gated Community
  • Walk-In Closet
  • Laundry closet
  • High Ceiling
  • Slab Porch or Patio
  • Tile Flooring

About This Home

Modern fourplex in a gated community with controlled access. The property consists of two 3-bedroom, 2-bath units and two 2-bedroom, 2-bath units, providing an ideal mix for strong rental demand.
Each unit features a modern design and comes fully equipped with washer, dryer, microwave, stove, and refrigerator. Contemporary finishes, functional layouts, and quality construction make this a low-maintenance asset built for long-term performance.
Located in an amazing area close to the expressway, shopping centers, restaurants, hospitals, and schools, this property offers convenience and strong tenant appeal. Situated within a gated community, it provides added privacy and security.
Whether you're an investor seeking a turnkey, cash-flowing asset or a first-time buyer looking to offset your mortgage with rental income, this fourplex presents a rare opportunity in one of McAllen’s most desirable locations.

Listing Agent

Denyss Alanis

Blue Diamond Realty Group Llc Listed on: 02/16/2026

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,859

Year Built

  • Built in 2023

Lot Details

  • 10,289 Sq Ft Lot
  • Wood Fence
  • Sprinkler System

HOA Fees

  • $42 Monthly HOA Fees

Home Design

  • Quadruplex
  • Slab Foundation
  • Shingle Roof
  • Wood Siding
  • Stucco

Interior Spaces

  • Walk-In Closet
  • 4,500 Sq Ft Home
  • 1-Story Property
  • High Ceiling
  • Ceiling Fan
  • Tile Flooring
  • Fire and Smoke Detector

Kitchen

  • Stove
  • Microwave

Laundry

  • Laundry closet
  • Dryer
  • Washer

Parking

  • Garage
  • 8 Carport Spaces
  • Rear-Facing Garage

Outdoor Features

  • Slab Porch or Patio

Schools

  • Milam Elementary School
  • Cathey Middle School
  • Memorial High School

Utilities

  • Central Heating and Cooling System
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number P375800000003800

Community Details

Overview

  • 2 Buildings
  • 4 Units
  • Streamline Management Association
  • Park Terrace Subdivision

Building Details

  • Insurance Expense $1,795
  • Gross Income $5,200

Security

  • Gated Community

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,859

Year Built

Built in 2023

Lot Details

10,289 Sq Ft Lot

HOA Fees

$42 per month

Listing Details

  • Directions: From Expressway 83, exit on 10th St (Business 83) and head north. Turn right (east) on Iris Ave. Continue to 1408 E Iris Ave located within the gated community.
  • Year Built: 2023
  • Property Sub Type: Quadruplex
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.2362
  • Road Surface Type: Paved
  • Subdivision Name: Park Terrace
  • Carport Y N: Yes
  • Garage Yn: No
  • Efficiency: None
  • Building Stories: 1
  • Special Features: None
  • Stories: 1

Interior Features

  • Roof: Shingle
  • Appliances: Electric Water Heater, Dryer, Refrigerator, Stove/Range, Washer
  • Flooring: Tile
  • Living Area: 4500

Exterior Features

  • Exterior Features: Sprinkler System
  • Interior Amenities: Ceiling Fan(s), Decorative/High Ceilings, Dryer, Microwave, Walk-In Closet(s), Washer
  • Fencing: Wood
  • Lot Features: Sidewalks, Sprinkler System
  • Home Warranty: No
  • Construction Type: Stucco, Wood Siding
  • Foundation Details: Slab
  • Other Structures: Outbuilding (None)
  • Patio And Porch Features: Patio Slab
  • Pool YN: No

Garage/Parking

  • Carport Spaces: 8
  • Covered Parking Spaces: 8
  • Parking Features: Garage Faces Rear

Utilities

  • Laundry Features: Laundry Area, Washer/Dryer Connection
  • Security: Smoke Detector(s)
  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Central
  • Heating Yn: Yes
  • Sewer: City Sewer

Condo/Co-op/Association

  • Community Features: Gated, Sidewalks, Street Lights
  • Association Fee: 500
  • Association Fee Frequency: Annually
  • Association Name: Streamline Management
  • Association: Yes

Schools

  • Elementary School: Milam
  • High School: Memorial H.S.
  • Junior High Dist: McAllen ISD
  • Middle Or Junior School: Cathey

Lot Info

  • Lot Size Sq Ft: 10288.872
  • Parcel #: P375800000003800

Building Info

  • Buildings: 2

Tax Info

  • Tax Year: 2025
  • Tax Annual Amount: 12859

Multi Family

  • Number Of Units In Community: 4
  • Number Of Units Total: 4
  • Annual Gross Income: 5200
  • Insurance Expense: 1795

Map

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $13,889 $545,000 $138,891 $406,109
2024 $13,889 $587,400 $133,747 $453,653
2023 $3,084 $130,146 $130,146 --
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
02/16/2026 02/16/26 For Sale $620,000 +13.8% $138 / Sq Ft
12/12/2023 12/12/23 Sold -- -- -- View Prior Sale
08/07/2023 08/07/23 Pending -- -- --
08/01/2023 08/01/23 For Sale $545,000 -- $123 / Sq Ft
Source: Greater McAllen Association of REALTORS®

Purchase History

Date Type Sale Price Title Company
Deed -- Sierra Title
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $545,929 FHA
Source: Public Records

Source: Greater McAllen Association of REALTORS®

MLS Number: 494685

Greater McAllen Association of REALTORS®

APN: P3758-00-000-0038-00

Texas Hidalgo County McAllen 78501

1408 E Iris Ave, McAllen, TX

For Sale

MultiFamily

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Greater McAllen Association of REALTORS® The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of Greater McAllen Association of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Listing Agent
Denyss Alanis
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Blue Diamond Realty Group Llc
(956) 212-7547
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