Duplex with New
New
For Sale
$229,000
303 N Rockport Street, Mission, TX 78573
Residential Income, Mission, TX
Property Size1,739 SF
Lot Size0.12 Acres
Price / SF$131.68
Days on Market5
Property Features for 303 N Rockport Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
4
Parking features
Garage
Patio and Porch features
Patio
Appliances
Electric Water Heater, Water Heater (Laundry Room), Refrigerator, Stove/Range
Subdivision
El Cercado
Lot features
Irregular Lot
Elementary school
Jensen
Middle school
Sharyland North Junior
High school
Sharyland Pioneer H.S.
Elementary school district
Sharyland ISD
Middle school district
Sharyland ISD
High school district
Sharyland ISD
Directions
Exit Shary Road, continue straight, pass the light, turn right to Stewart Rd, continue straight and pass Main Street (5 mile line), turn right to Rockport Street.
Standard status
Active
APN
E393200000001900
Size
1,739 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3770
Utilities
Heating system
Zoned, Central, Electric (Heating)
Cooling system
Central Air, Zoned, Electric
Water source
Public
Amenities
washer/dryer hooks
Building Details
Year built
2014
Floors in Building
1
Number of units
2
Building materials
Brick, Masonite
Roof type
Shingle
Listing Agency:
D1 Texas Realty
(956) 638-1081
Listed By:
Juan M. Lara
(956) 928-1155
Added: Sep 29
Last Checked: Oct 3 at 3:06PM
MLS# 516591
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.
This 1,739-square-foot duplex in Mission was built in 2014 and sits on a 0.1182-acre lot. Improvements include a new roof and tile flooring. The units are fully rented, and the property has a history of rental activity.
Refrigerators and stoves are included, with hookups available for washers and dryers. The property also features a garage, patio, and paved parking. Heating and cooling are central and zoned.
Refrigerators and stoves are included, with hookups available for washers and dryers. The property also features a garage, patio, and paved parking. Heating and cooling are central and zoned.
Key Highlights
- 1,739 square feet on a 0.1182‑acre lot
- Duplex built in 2014
- Currently fully 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
$15,207
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
6.64%
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%
$304,140
$304.1K
Cap Rate 7%
$217,243
$217.2K
Cap Rate 9%
$168,967
$169.0K
Market Conditions
NOI Build-Up for 1,739 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
$24.4K $14.04/SF
− Vacancy
−$2.7K −$1.55/SF
EGI
$21.7K $12.49/SF
− OpEx
−$6.5K −$3.75/SF
NOI
$15.2K $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%
$304,140
Cap Rate 7%
$217,243
Cap Rate 9%
$168,967
Alternative Uses
Best Use
Multifamily LT 5
$217.2K
$190.1K – $253.5K
NOI $15,207 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$200.0K
$175.0K – $233.4K
NOI $14,002 @ 7.0% cap · market cap 6.11%
Theoretical Best
Hotel Hospitality
$1.31M
$1.15M – $1.53M
NOI $91,689 @ 7.0% cap · market cap 40.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
172
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The 2014 property is fully leased and includes kitchen appliances and washer-dryer hookups.
Where is this duplex located?
The property is located at 303 N Rockport Street Mission, TX.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: 1,739 square feet on a 0.1182‑acre lot; Duplex built in 2014; Currently fully rented
