Four-Unit Apartment
For Sale
$384,999
3115 E Diamondhead Avenue, Mission, TX 78573
A new roof, exterior work, and upgrades to two units are among the property’s recent improvements.
Property Size3,640 SF
Price / SF$105.77
Days on Market8
Property Features for 3115 E Diamondhead Avenue
General Information
Standard status
Active
Size
3,640 SF
Total Parking Spaces
8
Property subtype
Multi Family Home
Occupancy
100%
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Gross Income
$40,800
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$7,026
Amenities
Ceiling Fan(s)
Crown/Cove Molding
Decorative/High Ceilings
Dryer
Microwave
Walk-In Closet(s)
Washer
Mature Trees
Building Details
Building Size
3,640 SF
Year Built
2007
Buildings
2
Stories
1
Units
4
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Nacole Ricks
(956) 207-0456
Source:
Culturare
Added: Oct 19
Changed: Oct 25
Last Checked: Oct 23 at 6:14PM
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 eXp Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,640-square-foot fourplex, built in 2007, contains four 2-bedroom, 2-bathroom apartments and is fully occupied. Recent work includes a new roof, exterior repainting, security cameras, exterior lighting, new thermostats, and cleaning of the A/C condenser units and dryer vents. Units B and D have new washers and dryers, and Unit D has been renovated.
Key Highlights
- Four 2‑bedroom, 2‑bathroom units
- 3,640 square feet; built in 2007
- Fully occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,832
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$636,640
$636.6K
Cap Rate 7%
$454,743
$454.7K
Cap Rate 9%
$353,689
$353.7K
Market Conditions
NOI Build-Up for 3,640 SF
Gross rent
$51.1K $14.04/SF
− Vacancy
−$5.6K −$1.55/SF
EGI
$45.5K $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 Rate 5%
$636,640
Cap Rate 7%
$454,743
Cap Rate 9%
$353,689
Alternative Uses
Best Use
Multifamily LT 5
$454.7K
$397.9K – $530.5K
NOI $31,832 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$418.7K
$366.3K – $488.5K
NOI $29,307 @ 7.0% cap · market cap 7.61%
Theoretical Best
Hotel Hospitality
$2.74M
$2.40M – $3.20M
NOI $191,919 @ 7.0% cap · market cap 49.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
138
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
Frequently Asked Questions
What type of property is this?
Quadplex - A new roof, exterior work, and upgrades to two units are among the property’s recent improvements.
Where is this quadplex located?
The property is located at 3115 E Diamondhead Avenue Mission, TX.
What is the asking price?
The asking price for this property is $384,999.
What are key features of this property?
This property features: Four 2‑bedroom, 2‑bathroom units; 3,640 square feet; built in 2007; Fully occupied
