Quadplex with Fenced
For Sale
$495,000
1803 W Ramirez Street, Mission, TX 78572
MULTI_FAMILY - Mission, TX
Property Size3,634 SF
Lot Size0.22 Acres
Price / SF$136.21
Days on Market49
Property Features for 1803 W Ramirez Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
None
Patio and Porch features
Patio
Exterior features
Sprinkler System
Fencing
Privacy
Appliances
Electric Water Heater, Dryer, Microwave, Refrigerator, Stove/Range-Electric Smooth, Washer
Subdivision
Inspiration Cove
Lot features
Cul-De-Sac, Sidewalks, Sprinkler System
Elementary school
Cantu
Middle school
Alton-Memorial Junior High
High school
Mission H.S.
Elementary school district
Mission ISD
Middle school district
Mission ISD
High school district
Mission ISD
Directions
From expressway 83 travel North on Inspiration Rd, Pass 2-mile line, East on Inspiration cove
Standard status
Active
APN
I405500000001000
Size
3,634 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
12732
Utilities
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
fenced patio area
stainless steel kitchen appliances
granite kitchen countertops
washer and dryer in each unit
Building Details
Year built
2023
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Composition
Listing Agency:
Dillard and Chapa Real Estate
(956) 271-2600
Listed By:
Daniel A. Chapa
(956) 271-2600
Added: Jul 11
Changed: Aug 3
Last Checked: Aug 28 at 8:06AM
MLS# 453963
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This quadplex is a four-unit complex built in 2023. The layout provides open-concept living, dining, and kitchen areas, with tiled floors throughout. Two units include two bedrooms and two bathrooms, and the other two units include three bedrooms and two bathrooms. Each unit features a fenced patio area and comes equipped with stainless steel kitchen appliances, including a refrigerator, stove/range (electric smooth), and microwave, plus washer and dryer. The exterior includes a sprinkler system, with stucco construction and a composition roof.
Utilities and services include public water, electric water heater, and electric central heating and central air cooling. The property also includes a privacy fence and a patio.
With its mix of two- and three-bedroom unit floor plans and in-unit laundry appliances, this quadplex is designed for straightforward tenant living with functional indoor/outdoor space.
Utilities and services include public water, electric water heater, and electric central heating and central air cooling. The property also includes a privacy fence and a patio.
With its mix of two- and three-bedroom unit floor plans and in-unit laundry appliances, this quadplex is designed for straightforward tenant living with functional indoor/outdoor space.
Key Highlights
- 0.2202‑acre quadplex lot with 3,634 SF total size
- Built in 2023 with four total units
- Two units: 2 bed, 2 bath; two units: 3 bed, 2 bath
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
$31,779
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
6.42%
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%
$635,580
$635.6K
Cap Rate 7%
$453,986
$454.0K
Cap Rate 9%
$353,100
$353.1K
Market Conditions
NOI Build-Up for 3,634 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
$51.0K $14.04/SF
− Vacancy
−$5.6K −$1.55/SF
EGI
$45.4K $12.49/SF
− OpEx
−$13.6K −$3.75/SF
NOI
$31.8K $8.74/SF
Area
Hidalgo County, TX
Vacancy
11.02%
Lease Rate
$14.04 /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%
$635,580
Cap Rate 7%
$453,986
Cap Rate 9%
$353,100
Alternative Uses
Best Use
Multifamily LT 5
$454.0K
$397.2K – $529.7K
NOI $31,779 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$418.0K
$365.7K – $487.7K
NOI $29,259 @ 7.0% cap · market cap 5.91%
Theoretical Best
Hotel Hospitality
$2.74M
$2.40M – $3.19M
NOI $191,603 @ 7.0% cap · market cap 38.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Explore this area
Business Placement
Demographics for 78572, TX
78,280
Population
32,696
Households
2.4
Avg Household Size
36
Median Age
25%
College-Educated
75%
High-School Grad
53.7 sq mi
ZIP Area
1,458
Density / Sq Mi
$54,029
Median Household Income
$30,004
Median Earnings
$900
Median Rent
$121,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit quadplex built in 2023 featuring open-concept interiors, tiled floors, and a privacy-fenced patio area.
Where is this quadplex located?
The property is located at 1803 W Ramirez Street Mission, TX.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 0.2202‑acre quadplex lot with 3,634 SF total size; Built in 2023 with four total units; Two units: 2 bed, 2 bath; two units: 3 bed, 2 bath
