Under-Construction
New
For Sale
$510,000
1002 W 8th Street, Mission, TX 78572
Residential Income, Mission, TX
Property Size3,760 SF
Lot Size0.25 Acres
Price / SF$135.64
Days on Market2
Property Features for 1002 W 8th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Property condition
Under Construction
Parking
8
Parking features
None
Patio and Porch features
Patio
Exterior features
Sprinkler System
Fencing
Privacy
Appliances
Electric Water Heater, Water Heater (Laundry Room), Smooth Electric Cooktop, Dryer, Microwave, Oven-Single, Stove/Range-Electric Smooth, Washer
Subdivision
Hidden Hills Estate
Lot features
Curb & Gutters, Irregular Lot, Professional Landscaping, Sidewalks, Sprinkler System
Elementary school
Marcell
Middle school
Mission Junior High
High school
Mission H.S.
Elementary school district
Mission ISD
Middle school district
Mission ISD
High school district
Mission ISD
Directions
Starting intersection: Interstate Highway 2 and Business 83 (old 83). Head east on busines 83 (old 83) until Holland Ave. Turn right (south) on Holland. Entrance to subdivision is on the right hand side (west) behind the Misiion ISD bus barn.
Standard status
Active
APN
H266100000002700
Size
3,760 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3101
HOA Fee
$500 Annually
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2026
Floors in Building
1
Number of units
4
Building materials
Brick, Siding
Roof type
Composition
Listing Agency:
BIG Realty
(956) 465-0011
Listed By:
Gregory A Vasquez · License #TEXAS0665545
(956) 289-3288
Added: Sep 23
Last Checked: Sep 24 at 7:06AM
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.
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 = 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
$32,881
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
6.45%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
274
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 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
