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    3115 E Diamond Head Ave Mission, TX 78573

    View on Map
    Sponsored
    For Sale
    $370,000

    MULTI_FAMILY - Mission, TX

    Property size:
    3,640 SF
    Lot size:
    0.22 Acres
    Days on Market:
    12
    Last Refresh:
    Mar 10 at 7:06 am

    Property Features for 3115 E Diamond Head Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    E443500000002400
    Parking
    8
    Parking features
    Garage
    Exterior features
    Mature Trees
    Fencing
    Privacy
    Appliances
    Electric Water Heater, Dryer, Stove/Range, Washer
    Size
    3,640 SF
    Lot size
    0.22 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    2007
    Floors in Building
    1
    Number of units
    4
    Building materials
    Brick
    Roof type
    Shingle

    We can help!

    Listing Contact
    Nacole Ricks

    eXp Realty, LLC (888) 519-7431

    Listing agent Nacole Ricks (956) 207-0456

    Listing date Feb 26, 2026

    MLS# 479768 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Mission, TX Multifamily Investment

    This multifamily property, located within walking distance of Jensen Elementary, presents a solid investment opportunity with potential for income growth. The property features four units, each containing two bedrooms and two bathrooms. The property is currently 100% occupied with long-term tenants who have been in place for 5-8 years. There is potential for rent increases to $950-$975 per month, totaling $3,600 - $3,850 per month. Over $42,000 has been invested in the property. Improvements include a roof repair in 2023, new paint and repairs for the entire four-plex in 2023, and new exterior paint in 2024. The AC exterior units have been cleaned in 2023, and the dryer exhaust roof vents have been cleaned. New exterior lights and cameras have been installed, adding value for tenants. New thermostats have been installed in Apartments B and D, along with new washers and dryers in Apartments B and D. Apartment D has been fully rehabbed. The property is situated on a street lined with other four-plexes, some as new as 2015, indicating strong demand and profitability. The property size is 3,640 square feet and the lot size is 0.2194 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.283028
    Latitude
    26.288857

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    FAQs

    What type of property is this?
    Quadplex - Four-unit property with income potential in a desirable location.
    Where is this quadplex located?
    The property is located at 3115 E Diamond Head Ave Mission, TX.
    What is the asking price?
    The asking price for this property is $370,000.
    What are key features of this property?
    This property features: - Proven income potential with 100% occupancy and long-term tenants.; - Potential for rent increases to $950-$975 per unit.; - Significant investment of $42,000+ in property improvements, including roof repair (2023) and exterior paint (2024).
    (888) 519-7431
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    3115 E Diamond Head Ave Mission, TX 78573
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    Mission, TX 78573
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3115 E Diamond Head Ave Mission, TX 78573
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    Listing Contact
    Nacole Ricks
    (888) 519-7431 (956) 207-0456
    Learn more
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