Turnkey Fourplex with New
3115 E Diamondhead Avenue Mission, TX 78573
New
For Sale
$384,999
MULTI_FAMILY - Mission, TX
Property Size3,640 SF
Lot Size0.22 Acres
Price / SF$105.77
Days on Market1
Property Features for 3115 E Diamondhead Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Parking
- 8
- Parking features
- Garage
- Exterior features
- Mature Trees
- Fencing
- Privacy
- Appliances
- Electric Water Heater, Dryer, Stove/Range, Washer
- Standard status
- Active
- APN
- E443500000002400
- Size
- 3,640 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 7026
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Electric, Central Air
- Water source
- Public
Building Details
- Year built
- 2007
- Floors in Building
- 1
- Number of units
- 4
- Building materials
- Brick
- Roof type
- Shingle
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Nacole Ricks
(956) 207-0456
Added: Jul 25
Last Checked: Jul 25 at 7:06AM
MLS# 506305
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 turnkey, fully occupied fourplex includes four separate units, each configured as a 2-bedroom, 2-bath layout. The property has had recent improvements including a brand-new roof, exterior repainting, security cameras, exterior lighting, cleaning of A/C condenser units and dryer vents, and new thermostats. Additional updates include new washers and dryers in Units B and D, and a fully renovated Unit D.
The property is located at 3115 E Diamondhead Avenue in Mission, TX, on a street with newer multifamily properties. Public remarks indicate it is within walking distance of Jensen Elementary.
With four units in place and current rental income reported in the listing remarks, the building is presented as an income-producing residential income property with ongoing unit-level updates and reduced deferred maintenance needs based on the described improvements.
The property is located at 3115 E Diamondhead Avenue in Mission, TX, on a street with newer multifamily properties. Public remarks indicate it is within walking distance of Jensen Elementary.
With four units in place and current rental income reported in the listing remarks, the building is presented as an income-producing residential income property with ongoing unit-level updates and reduced deferred maintenance needs based on the described improvements.
Key Highlights
- Fully occupied fourplex built in 2007 with four 2‑bedroom, 2‑bath units
- Current rental income $3,400/month (A: $850, B: $850, C: $900, D: $800)
- Brand‑new roof plus exterior repaint, security cameras, and exterior lighting
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.1k | $14.04 |
| − Vacancy | −$5.6k | −$1.55 |
| EGI | $45.5k | $12.49 |
| − OpEx | −$13.6k | −$3.75 |
| NOI | $31.8k | $8.74 |
3,640 SF · lease $14.04/SF/yr · vacancy 11.02% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Fully occupied fourplex with four 2-bedroom, 2-bath units and a brand-new roof.
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: Fully occupied fourplex built in 2007 with four 2‑bedroom, 2‑bath units; Current rental income $3,400/month (A: $850, B: $850, C: $900, D: $800); Brand‑new roof plus exterior repaint, security cameras, and exterior lighting
