For sale

Price cut: $10K (7/9)

$555,000

1408 E Iris Ave, McAllen, TX 78501

10beds

8baths

4,500sqft

$4,408/mo

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Quadruplex, Multi Family

Built in 2023

-- sqft lot

$-- Zestimate^®

$123/sqft

$42/mo HOA

What's special

Quality constructionContemporary finishesModern designFunctional layoutsAdded privacy and security

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.

167 days

106

13

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 10
Bathrooms: 8

Heating

Has Heating (Unspecified Type)

Cooling

Central Air

Appliances

Included: Electric Water Heater, Dryer, Refrigerator, Stove/Range, Washer
Laundry: Laundry Area, Washer/Dryer Connection

Features

Ceiling Fan(s), High Ceilings, Walk-In Closet(s)
Flooring: Tile

Interior area

Total structure area: 4,500
Total interior livable area: 4,500 sqft

Property

Parking

Total spaces: 8
Parking features: Garage Faces Rear
Carport spaces: 8

Features

Patio & porch: Patio Slab
Exterior features: Sprinkler System
Fencing: Wood

Lot

Size: 10,288 Square Feet
Features: Sidewalks, Sprinkler System

Details

Additional structures: Outbuilding (None)
Parcel number: P375800000003800

Construction

Type & style

Home type: MultiFamily
Property subtype: Quadruplex, Multi Family

Materials

Stucco, Wood Siding
Foundation: Slab
Roof: Shingle

Condition

Year built: 2023

Utilities & green energy

Sewer: Public Sewer

Green energy

Energy efficient items: None

Community & HOA

Community

Features: Gated, Sidewalks, Street Lights
Security: Smoke Detector(s)
Subdivision: Park Terrace

HOA

Has HOA: Yes
HOA fee: $500 annually
HOA name: Streamline Management

Location

Region: Mcallen

Financial & listing details

Price per square foot: $123/sqft
Tax assessed value: $545,000
Annual tax amount: $12,859
Date on market: 2/16/2026
Road surface type: Paved

Estimated market value

Not available

Estimated sales range

Not available

$1,217/mo

Price history

Date	Event	Price
7/9/2026	Price change	$555,000-1.8%$123/sqft
Source: Greater McAllen AOR #494685 Report a problem
4/28/2026	Price change	$565,000-8.9%$126/sqft
Source: Greater McAllen AOR #494685 Report a problem
2/16/2026	Listed for sale	$620,000+13.8%$138/sqft
Source: Greater McAllen AOR #494685 Report a problem
12/12/2023	Sold	--
Source: Greater McAllen AOR #411084 Report a problem
8/7/2023	Pending sale	$545,000$121/sqft
Source: Greater McAllen AOR #411084 Report a problem
8/1/2023	Listed for sale	$545,000$121/sqft
Source: Greater McAllen AOR #411084 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$10,407 -7.5%	$545,000 -7.2%
2024	$11,246 +351.8%	$587,400 +351.3%
2023	$2,489	$130,146

Find assessor info on the county website

Monthly payment

Est. payment

Payment breakdown

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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included

All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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Climate risks

Neighborhood: 78501

Getting around

28 / 100

Car-Dependent

35 / 100

Somewhat Bikeable

Nearby schools

GreatSchools rating

8/10
Allen & William Arnold Elementary School
Grades: PK-5Distance: 1 mi
5/10
Lyndon B Johnson Middle School
Grades: 6-8Distance: 2 mi
6/10
PSJA North High School
Grades: 9-12Distance: 1.8 mi

Schools provided by the listing agent

Elementary: Milam
Middle: Cathey
High: Memorial H.S.
District: McAllen ISD

Source: Greater McAllen AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.