Under-Construction
1002 W 8th Street, Mission, TX 78572
For Sale
$510,000
Residential Income, Mission, TX
Property Size3,760 SF
Lot Size0.25 Acres
Price / SF$135.64
Days on Market48
Property Features for 1002 W 8th Street
General Information
Property type
Property subtype
Property condition
Parking
Parking features
Patio and Porch features
Exterior features
Fencing
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
HOA Fee
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Listing Agency:
BIG Realty
(956) 465-0011
Listed By:
Gregory A Vasquez · License #TEXAS0665545
(956) 289-3288
Added: Sep 23
Changed: Oct 26
Last Checked: Nov 9 at 4:06AM
MLS# 516096
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.
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Investment Insights
Based on property information with market context.
This under-construction fourplex is planned with 3,760 square feet of total living space on a 0.2542-acre lot. The structure incorporates brick and siding exterior materials, composition roofing, central heating and cooling, electric service, and public water. Patios, privacy fencing, and a sprinkler system are included among the exterior features.
The property is located at 1002 W 8th Street in Mission, Texas, near an expressway, shopping centers, and schools. Appliances include electric cooking equipment, a microwave, washer, dryer, and water-heating equipment serving the laundry room. The property is associated with an HOA and is scheduled for completion in 2026.
The property is located at 1002 W 8th Street in Mission, Texas, near an expressway, shopping centers, and schools. Appliances include electric cooking equipment, a microwave, washer, dryer, and water-heating equipment serving the laundry room. The property is associated with an HOA and is scheduled for completion in 2026.
Key Highlights
- 3,760 square feet of total living space
- 0.2542‑acre lot in Mission, TX
- Fourplex under construction with 2026 year built
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,881
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$657,620
$657.6K
Cap Rate 7%
$469,729
$469.7K
Cap Rate 9%
$365,344
$365.3K
Market Conditions
NOI Build-Up for 3,760 SF
Gross rent
$52.8K $14.04/SF
− Vacancy
−$5.8K −$1.55/SF
EGI
$47.0K $12.49/SF
− OpEx
−$14.1K −$3.75/SF
NOI
$32.9K $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 Rate 5%
$657,620
Cap Rate 7%
$469,729
Cap Rate 9%
$365,344
Alternative Uses
Best Use
Multifamily LT 5
$469.7K
$411.0K – $548.0K
NOI $32,881 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$432.5K
$378.4K – $504.6K
NOI $30,274 @ 7.0% cap · market cap 5.94%
Theoretical Best
Hotel Hospitality
$2.83M
$2.48M – $3.30M
NOI $198,246 @ 7.0% cap · market cap 38.87%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
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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
$121,900
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Mission, TX
Properties on Market for Quadplexes in Mission
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with brick and siding exterior, patios, privacy fencing, and central HVAC.
Where is this quadplex located?
The property is located at 1002 W 8th Street Mission, TX.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: 3,760 square feet of total living space; 0.2542‑acre lot in Mission, TX; Fourplex under construction with 2026 year built
