Mission, TX 5-Plex
407 S Minnesota Road Mission, TX 78572
407 S Minnesota Road, Mission, TX, 78572
$535,000
For Sale
$535,000
MULTI_FAMILY - Mission, TX
Property Size4,940 SF
Lot Size0.50 Acres
Price / SF$108.30
Days on Market34
Property Features for 407 S Minnesota Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Garage
- Appliances
- Electric Water Heater, Water Heater (Programmable thermostat), No Conveying Appliances
- Standard status
- Active
- APN
- P295200000000500
- Size
- 4,940 SF
- Lot size
- 0.50 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 11356
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Electric, Central Air
- Water source
- Public
Building Details
- Year built
- 2004
- Floors in Building
- 1
- Number of units
- 5
- Building materials
- Brick
- Roof type
- Shingle
Listing Agency
eXp Realty LLC
(888) 519-7431
9600 Great Hills Trail #150w, Austin, TX
Listed by
Rene Flores
(956) 250-2084
Added: Jun 14 Checked: Jul 17 at 9:06 pm
MLS# 461669
Listing URL
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 fully occupied 5-plex, located in Mission, TX, presents an investment opportunity. The property features 2-bed, 2-bath units. All units are leased, ensuring immediate returns. The property is well-maintained and offers a tranquil environment with low tenant turnover, maximizing investment stability. Situated in a desirable area with easy access to local amenities, this 5-plex is an ideal addition to any real estate portfolio. The property size is 4940 square feet and the lot size is 0.5 acres.
Key Highlights
- Fully occupied 5‑plex at 407 S Minnesota in Mission/Palmview
- Unit mix includes 2‑bedroom, 2‑bath units
- Built in 2004 with brick construction and shingle roof
Local Financial Insights For Apartment 5plus
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 | $81.8k | $16.56 |
| − Vacancy | −$9.5k | −$1.92 |
| EGI | $72.3k | $14.64 |
| − OpEx | −$32.5k | −$6.59 |
| NOI | $39.8k | $8.05 |
4,940 SF · lease $16.56/SF/yr · vacancy 11.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$568.2K
$497.2K – $662.9K
NOI $39,774 @ 7.0% cap · market cap 7.43%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$3.72M
$3.26M – $4.34M
NOI $260,462 @ 7.0% cap · market cap 48.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully occupied 5-plex in Mission, TX with immediate returns.
Where is this apartment building located?
The property is located at 407 S Minnesota Road Mission, TX.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Fully occupied 5‑plex at 407 S Minnesota in Mission/Palmview; Unit mix includes 2‑bedroom, 2‑bath units; Built in 2004 with brick construction and shingle roof
