Modern Quadplex with Fenced
For Sale
$469,000
2708 W Harrison Ave, Mission, TX 78573
Newly built four-unit property with contemporary finishes, private outdoor space, covered parking, and in-unit laundry.
Property Size4,052 SF
Price / SF$115.75
Days on Market16
Property Features for 2708 W Harrison Ave
General Information
Standard status
Active
Size
4,052 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,103
Amenities
private fenced backyards
stainless steel appliances
in-unit washer and dryer
covered carports
Listing Agency:
Nexus RGV Adminstrative Group, LLC
(956) 777-9579
Listed By:
Emiliano Perez
(956) 777-9579
Source:
Exprealty
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 28 at 12:25PM
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 Nexus RGV Adminstrative Group, LLC
Investment Insights
Based on property information with market context.
This newly constructed quadplex contains four residences within a 4,052-square-foot property. Each unit has an open living arrangement, wood-look tile flooring, custom cabinetry, quartz countertops, and a large kitchen island. The interiors also include stainless steel appliances, in-unit washers and dryers, generously sized bedrooms, and substantial closet space. Primary suites feature frameless glass showers and walk-in closets, while every residence includes a private fenced backyard and access to covered carports.
The property is located at 2708 W Harrison Ave in Mission, Texas, within a multifamily subdivision and minutes from schools, shopping, and dining. The combination of four separate units, recently completed construction, contemporary finishes, private yards, and covered parking provides a clearly defined multifamily configuration for ownership and leasing consideration.
The property is located at 2708 W Harrison Ave in Mission, Texas, within a multifamily subdivision and minutes from schools, shopping, and dining. The combination of four separate units, recently completed construction, contemporary finishes, private yards, and covered parking provides a clearly defined multifamily configuration for ownership and leasing consideration.
Key Highlights
- Four‑unit quadplex with 4,052 square feet
- Newly built multifamily property at 2708 W Harrison Ave
- Private fenced backyard provided for every unit
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
$35,435
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
7.56%
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%
$708,700
$708.7K
Cap Rate 7%
$506,214
$506.2K
Cap Rate 9%
$393,722
$393.7K
Market Conditions
NOI Build-Up for 4,052 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
$56.9K $14.04/SF
− Vacancy
−$6.3K −$1.55/SF
EGI
$50.6K $12.49/SF
− OpEx
−$15.2K −$3.75/SF
NOI
$35.4K $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%
$708,700
Cap Rate 7%
$506,214
Cap Rate 9%
$393,722
Alternative Uses
Best Use
Multifamily LT 5
$506.2K
$442.9K – $590.6K
NOI $35,435 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$466.1K
$407.8K – $543.8K
NOI $32,625 @ 7.0% cap · market cap 6.96%
Theoretical Best
Hotel Hospitality
$3.05M
$2.67M – $3.56M
NOI $213,642 @ 7.0% cap · market cap 45.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
63
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?
Quadplex - Newly built four-unit property with contemporary finishes, private outdoor space, covered parking, and in-unit laundry.
Where is this quadplex located?
The property is located at 2708 W Harrison Ave Mission, TX.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Four‑unit quadplex with 4,052 square feet; Newly built multifamily property at 2708 W Harrison Ave; Private fenced backyard provided for every unit
