NOT LISTED FOR SALE

2022 Summerland Ln Edinburg, TX 78541

Estimated Value: $493,000 - $520,000

-- Bed
8 Baths
3,896 Sq Ft
$129/Sq Ft Est. Value

Last Sold August 26, 2020

Current estimated payment $3,681/month

56 Days on Market

Highlights

  • New Construction
  • Home Security System
  • Tile Flooring
  • Walk-In Closet
  • Laundry closet
  • Central Heating and Cooling System

About This Home

As of August 2020

-Luxury fourplex with beautiful landscape, spacious patios, walk-in closets, kitchen island and modern vanities. Take advantage of the low interest rates and buy this great priced units with high income and excellent sales price. Projected CAP at 8%, ROI up to 17% or move into one unit and lease the others and save the rent!. Enjoy the luxury finishes of these Summerset units, 6 buildings available. Combination of 3 bed and 2 bed units, all appliances included, rents will be around $1050 for 3 bed and $950 for 2 bed. These units are brand new, property manager already working on waiting list for tenants ready to sign! All tile or porcelain tile floor, islands in the kitchen, amazing spacious bathrooms with custom vanities and modern faucets. Large patios on the 3 bed units and side patios for the 2 bed units at the front. Excellent location between Expwy 281 and Jackson Rd off Montecristo! Hard to find high-end units like this in the market, call today!

Last Agent to Sell the Property

Irene Uribe

Texas Landmark Realty Llc Listed on: 06/20/2020

Last Buyer's Agent

Irene Uribe

Texas Landmark Realty Llc Listed on: 06/20/2020

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,578

Year Built

  • Built in 2020 | New Construction

Lot Details

  • 10,000 Sq Ft Lot
  • Privacy Fence
  • Sprinkler System

HOA Fees

  • $50 Monthly HOA Fees

Home Design

  • Quadruplex
  • Slab Foundation
  • Composition Shingle Roof
  • Stucco
  • Stone

Interior Spaces

  • Walk-In Closet
  • 3,896 Sq Ft Home
  • 1-Story Property
  • Ceiling Fan
  • Tile Flooring

Kitchen

  • Electric Range
  • Microwave

Laundry

  • Laundry closet
  • Dryer
  • Washer

Home Security

  • Home Security System
  • Fire and Smoke Detector

Parking

  • Garage
  • 8 Carport Spaces
  • No Garage
  • Front Facing Garage

Schools

  • Zavala Elementary School
  • B.L. Garza Middle School
  • Edinburg North High School

Utilities

  • Central Heating and Cooling System
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number M574500003003300

Community Details

Overview

  • 2 Buildings
  • 2 Units
  • Motecito Iii HOA
  • Montecito Ph 1 Subdivision

Building Details

  • Insurance Expense $2,160
  • Maintenance Expense $9,360
  • Gross Income $48,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,578

Year Built

Built in 2020 | New Construction

Lot Details

0

HOA Fees

$50 per month

Listing Details

  • Directions: Exit Expressway 281 and go West on Montecristo, property will be on the left (South) hand side before Jackson Rd.
  • Year Built: 2020
  • Property Sub Type: Quadruplex
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.2296
  • Road Surface Type: Paved
  • Subdivision Name: Montecito Ph 1
  • Carport Y N: Yes
  • Garage Yn: No
  • New Construction: Yes
  • Efficiency: Other
  • Building Stories: 1
  • GMAR_GeocodeConfidence: High
  • GMAR_Escrow: 4000
  • GMAR_LicensedSupervisor: Albert Garza
  • Non-Allowables: No
  • Repairs YN: No
  • Special Features: NewHome
  • Stories: 1

Interior Features

  • Roof: Composition Shingle
  • Appliances: Electric Water Heater, Dryer, Microwave, Refrigerator, Stove/Range-Electric Coil, Stove/Range-Electric Smooth
  • Flooring: Tile
  • Living Area: 3896

Exterior Features

  • Exterior Features: Sprinkler System
  • Interior Amenities: Ceiling Fan(s), Dryer, Microwave, Walk-In Closet(s), Washer
  • Fencing: Privacy
  • Lot Features: Professional Landscaping, Sprinkler System
  • Home Warranty: No
  • Construction Type: Other, Stone, Stucco
  • Foundation Details: Slab
  • Other Structures: Outbuilding (None)
  • Property Condition: New Construction
  • Pool YN: No

Garage/Parking

  • Carport Spaces: 8
  • Covered Parking Spaces: 8
  • Parking Features: Garage Faces Front, No Garage
  • Total Parking Spaces: 8

Utilities

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

Condo/Co-op/Association

  • Community Features: Other, Street Lights
  • Association Fee: 600
  • Association Fee Frequency: Annually
  • Association Name: Motecito III HOA
  • Association: Yes

Schools

  • Elementary School: Zavala
  • High School: Edinburg North H.S.
  • Junior High Dist: Edinburg ISD
  • Middle Or Junior School: B.L. Garza

Lot Info

  • Lot Size Sq Ft: 10000.0692
  • Parcel #: M574500003003300
  • ResoLotSizeUnits: SquareFeet

Building Info

  • Buildings: 2

Tax Info

  • Tax Year: 2019
  • Tax Annual Amount: 1578

Multi Family

  • Number Of Units In Community: 2
  • Number Of Units Total: 4
  • Annual Gross Income: 48000
  • Insurance Expense: 2160

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 20, 2020
Closed on
Sep 11, 2020
Sold by
Gre Chi Investments Corp
Bought by
Quest Trust Company
Seller's Agent
Irene Uribe
Texas Landmark Realty Llc
Buyer's Agent
Irene Uribe
Texas Landmark Realty Llc
List Price
$385,000
Current Estimated Value
$502,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.59%
Original Mortgage
$240,500
Outstanding Balance
$195,766
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$320,234
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Quest Trust Company -- Valley Land Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Quest Trust Company $240,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/26/2020 08/26/20 Sold -- -- --
08/15/2020 08/15/20 Pending -- -- --
06/20/2020 06/20/20 For Sale $385,000 -- $99 / Sq Ft
Source: Greater McAllen Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

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
2024 $10,744 $473,000 $110,000 $363,000
2023 $8,946 $372,874 $67,000 $305,874
2022 $10,741 $412,483 $67,000 $345,483
2021 $9,981 $368,616 $67,000 $301,616
2020 $1,578 $58,000 $58,000 $0
Source: Public Records

Agents Affiliated with this Home

  • Irene Uribe

    Seller's Agent in 2020

    Irene Uribe

    Texas Landmark Realty Llc

    (956) 492-5638

    143 Total Sales

    Irene Uribe
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Map

Source: Greater McAllen Association of REALTORS®

MLS Number: 335885

Greater McAllen Association of REALTORS®

APN: M5745-00-003-0033-00

Texas Hidalgo County Edinburg 78541

2022 Summerland Ln, Edinburg, TX

This home is located at 2022 Summerland Ln, Edinburg, TX 78541 since 20 June 2020 and is currently estimated at $502,000, approximately $128 per square foot. This property was built in 2020. 2022 Summerland Ln is a home located in Hidalgo County with nearby schools including Truman Elementary School, B L Garza Middle School, and Edinburg North High School.

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