Gated
New
For Sale
$460,000
2507 E Garfield Avenue, Mission, TX 78573
All residences are leased and situated within a gated community near shopping, dining, schools, and major roadways.
Property Size4,000 SF
Price / SF$115
Days on Market7
Property Features for 2507 E Garfield Avenue
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,596
Amenities
gated community
Listing Agency:
OAKK REAL ESTATE LLC
Listed By:
Karina Martinez
(956) 562-4736
Source:
Exprealty
Added: Sep 18
Changed: Sep 23
Last Checked: Sep 23 at 2:51AM
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 OAKK REAL ESTATE LLC
Investment Insights
Based on property information with market context.
Located at 2507 E Garfield Avenue in Mission, Texas, this quadplex contains four residential units within a gated community. The property encompasses 4,000 square feet, and all four units are currently rented. The configuration provides a fully occupied residential income asset with established tenancy in place.
Shopping, dining, schools, and major roadways are located nearby, adding convenient access to everyday services and transportation routes. Showings require advance notice, and tenant privacy must be maintained during property visits.
Shopping, dining, schools, and major roadways are located nearby, adding convenient access to everyday services and transportation routes. Showings require advance notice, and tenant privacy must be maintained during property visits.
Key Highlights
- Quadplex with four residential units
- 4,000 square feet of property size
- All four units are currently rented
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
$34,980
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
7.60%
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%
$699,600
$699.6K
Cap Rate 7%
$499,714
$499.7K
Cap Rate 9%
$388,667
$388.7K
Market Conditions
NOI Build-Up for 4,000 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
$56.2K $14.04/SF
− Vacancy
−$6.2K −$1.55/SF
EGI
$50.0K $12.49/SF
− OpEx
−$15.0K −$3.75/SF
NOI
$35.0K $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%
$699,600
Cap Rate 7%
$499,714
Cap Rate 9%
$388,667
Alternative Uses
Best Use
Multifamily LT 5
$499.7K
$437.3K – $583.0K
NOI $34,980 @ 7.0% cap · market cap 7.60%
Second Best
Apartment 5plus
$460.1K
$402.6K – $536.8K
NOI $32,206 @ 7.0% cap · market cap 7.00%
Theoretical Best
Hotel Hospitality
$3.01M
$2.64M – $3.52M
NOI $210,900 @ 7.0% cap · market cap 45.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
187
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
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
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Frequently Asked Questions
What type of property is this?
Quadplex - All residences are leased and situated within a gated community near shopping, dining, schools, and major roadways.
Where is this quadplex located?
The property is located at 2507 E Garfield Avenue Mission, TX.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Quadplex with four residential units; 4,000 square feet of property size; All four units are currently rented
