Fully Occupied Duplex on
For Sale
Contact for pricing
220 N Waxahachie Street, Mission, TX 78573
Duplex with two units, oversized backyard, great investment opportunity.
Property Size2,016 SF
Price / SF$89.29
Days on Market792
Property Features for 220 N Waxahachie Street
General Information
Standard status
Active
Size
2,016 SF
Total Parking Spaces
6
Property subtype
Multifamily
Building Details
Year Built
1997
Buildings
1
Units
2
Listing Agency:
LV Real Estate Group, LLC
Listed By:
Karina Jones
Source:
Crexi
Added: Jun 28, 2024
Changed: Aug 16
Last Checked: Aug 26 at 7:46AM
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 LV Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This is a fully occupied duplex featuring two units, each with two bedrooms and one bathroom. The property is situated on a corner lot and includes an oversized backyard. This property presents an opportunity for investors or those seeking additional income.
Key Highlights
- Fully occupied duplex providing immediate rental income.
- Great opportunity for investors or those seeking extra income.
- Each unit features 2 bedrooms and 1 bathroom.
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
$16,232
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
9.02%
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%
$324,640
$324.6K
Cap Rate 7%
$231,886
$231.9K
Cap Rate 9%
$180,356
$180.4K
Market Conditions
NOI Build-Up for 2,016 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
$33.4K $16.56/SF
− Vacancy
−$3.9K −$1.92/SF
EGI
$29.5K $14.64/SF
− OpEx
−$13.3K −$6.59/SF
NOI
$16.2K $8.05/SF
Area
Hidalgo County, TX
Vacancy
11.60%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
45.00%
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%
$324,640
Cap Rate 7%
$231,886
Cap Rate 9%
$180,356
Alternative Uses
Best Use
Multifamily LT 5
$251.9K
$220.4K – $293.8K
NOI $17,630 @ 7.0% cap · market cap 9.79%
Second Best
Apartment 5plus
$231.9K
$202.9K – $270.5K
NOI $16,232 @ 7.0% cap · market cap 9.02%
Theoretical Best
Hotel Hospitality
$1.52M
$1.33M – $1.77M
NOI $106,294 @ 7.0% cap · market cap 59.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
Explore this area
Business Placement
Demographics for 78573, TX
42,229
Population
13,339
Households
3.2
Avg Household Size
29
Median Age
15%
College-Educated
63%
High-School Grad
36.7 sq mi
ZIP Area
1,151
Density / Sq Mi
$51,185
Median Household Income
$27,730
Median Earnings
$909
Median Rent
$154,800
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?
Duplex - Duplex with two units, oversized backyard, great investment opportunity.
Where is this duplex located?
The property is located at 220 N Waxahachie Street Mission, TX.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Fully occupied duplex providing immediate rental income.; Great opportunity for investors or those seeking extra income.; Each unit features 2 bedrooms and 1 bathroom.
