Four-Unit Residential
For Sale
$495,000
1803 W Ramirez Street, Mission, TX 78572
Residential Income, Mission, TX
Property Size3,634 SF
Lot Size0.22 Acres
Price / SF$136.21
Days on Market79
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
Central Air, Electric
Water source
Public
Amenities
fenced patio area
covered parking
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
Listed By:
Daniel A. Chapa
(956) 271-2600
Added: Jul 11
Changed: Sep 12
Last Checked: Sep 27 at 3:06PM
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.
Located at 1803 W Ramirez Street in Mission, Texas, this 3634-square-foot residential property contains four units and was built in 2023. The unit mix includes two residences with two bedrooms and two bathrooms each, plus two residences with three bedrooms and two bathrooms each.
Interior layouts combine living, dining, and kitchen areas in an open configuration. Tile flooring extends throughout the units, while kitchens feature granite countertops and stainless appliances, including refrigerators, electric ranges, and microwaves. Each unit also includes a washer and dryer. Additional property features include privacy fencing, patio space, a stucco exterior, composition roofing, central electric heating and cooling, public water service, and a sprinkler system. The property occupies 0.2202 acres in Hidalgo County.
Interior layouts combine living, dining, and kitchen areas in an open configuration. Tile flooring extends throughout the units, while kitchens feature granite countertops and stainless appliances, including refrigerators, electric ranges, and microwaves. Each unit also includes a washer and dryer. Additional property features include privacy fencing, patio space, a stucco exterior, composition roofing, central electric heating and cooling, public water service, and a sprinkler system. The property occupies 0.2202 acres in Hidalgo County.
Key Highlights
- Four‑unit property built in 2023
- 3634 square feet on 0.2202 acres
- Unit mix includes two 2‑bedroom and two 3‑bedroom residences
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
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Open Analytics
Current Use
Lease Details
4
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Open-plan interiors include tile flooring, granite counters, stainless appliances, and a 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: Four‑unit property built in 2023; 3634 square feet on 0.2202 acres; Unit mix includes two 2‑bedroom and two 3‑bedroom residences
