New Four-Unit Residential
For Sale
Contact for pricing
Pending
1802 W Ramirez Street, Mission, TX 78572
Four-unit complex built in 2023 with modern amenities.
Property Size3,808 SF
Days on Market648
Property Features for 1802 W Ramirez Street
General Information
Standard status
Pending
Size
3,808 SF
Total Parking Spaces
8
Property subtype
Multifamily
Building Details
Year Built
2023
Buildings
2
Units
4
Listing Agency:
Dillard and Chapa Real Estate
(956) 271-2600
Listed By:
Daniel Chapa
Source:
Crexi
Added: Nov 18, 2024
Changed: Aug 8
Last Checked: Jul 24 at 6:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dillard and Chapa Real Estate
Investment Insights
Based on property information with market context.
This four-unit residential complex was built in 2023. The property includes two units featuring two bedrooms and two bathrooms, and two units offering three bedrooms and two bathrooms. Each unit has an open-concept design integrating the living, dining, and kitchen areas. Tiled floors are installed throughout each unit. Each unit includes a fenced patio area and covered parking. Kitchens are equipped with stainless steel appliances, including a refrigerator, stove, and microwave oven, complemented by granite countertops. Each unit also includes a washer and dryer.
Key Highlights
- New construction built in 2023.
- Four units: two 2‑bedroom/2‑bath units and two 3‑bedroom/2‑bath units.
- Each unit includes stainless steel kitchen appliances (refrigerator, stove, microwave oven) and a washer and dryer.
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
$33,301
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
6.73%
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%
$666,020
$666.0K
Cap Rate 7%
$475,729
$475.7K
Cap Rate 9%
$370,011
$370.0K
Market Conditions
NOI Build-Up for 3,808 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
$53.5K $14.04/SF
− Vacancy
−$5.9K −$1.55/SF
EGI
$47.6K $12.49/SF
− OpEx
−$14.3K −$3.75/SF
NOI
$33.3K $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%
$666,020
Cap Rate 7%
$475,729
Cap Rate 9%
$370,011
Alternative Uses
Best Use
Multifamily LT 5
$475.7K
$416.3K – $555.0K
NOI $33,301 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$438.0K
$383.3K – $511.0K
NOI $30,660 @ 7.0% cap · market cap 6.19%
Theoretical Best
Hotel Hospitality
$2.87M
$2.51M – $3.35M
NOI $200,777 @ 7.0% cap · market cap 40.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
96
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 complex built in 2023 with modern amenities.
Where is this quadplex located?
The property is located at 1802 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: New construction built in 2023.; Four units: two 2‑bedroom/2‑bath units and two 3‑bedroom/2‑bath units.; Each unit includes stainless steel kitchen appliances (refrigerator, stove, microwave oven) and a washer and dryer.
