5-Unit Apartment
For Sale
$535,000
407 S Minnesota Road, Mission, TX 78572
Residential Income, Mission, TX
Property Size4,940 SF
Lot Size0.50 Acres
Price / SF$108.30
Days on Market125
Property Features for 407 S Minnesota Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
None
Appliances
Electric Water Heater, Water Heater (Programmable thermostat), No Conveying Appliances
Subdivision
Palmview West
Elementary school
Leo
Middle school
Chavez
High school
Palmview H.S.
Elementary school district
La Joya ISD
Middle school district
La Joya ISD
High school district
La Joya ISD
Directions
To reach 407 S Minnesota Ave, Mission, TX 78572, follow these directions: Starting from Edinburg, TX: Head west on US-83 W toward Mission. Continue on US-83 W for approximately 15 miles. Approaching Mission: Take the exit toward Los Ebanos Rd from US-83 W. Merge onto Frontage Rd. Turn left onto Los Ebanos Rd. Final Steps: Continue on Los Ebanos Rd for about 1 mile. Turn right onto S Minnesota Ave. Your destination, 407 S Minnesota Ave, will be on the left. Please note that 407 S Minnesota Ave is located in Mission, not Palmview. Ensure you are heading to the correct city to avoid any confusion.
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
Electric (Heating), Central
Cooling system
Central Air, Electric
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
Listed By:
Rene Flores
(956) 250-2084
Added: Jun 14
Changed: Sep 14
Last Checked: Oct 16 at 7:06PM
MLS# 461669
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.
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 5-unit apartment property at 407 S Minnesota Road in Mission, TX, contains 4,940 square feet on a 0.5-acre parcel. Each residence is configured with two bedrooms and two bathrooms, and all units are leased. The building was constructed in 2004 with brick exterior materials and a shingle roof.
Property systems include central air conditioning, electric heating, and public water service. The site has no designated parking features. The apartment building provides a straightforward multifamily configuration with consistent unit layouts and an established occupancy profile.
Property systems include central air conditioning, electric heating, and public water service. The site has no designated parking features. The apartment building provides a straightforward multifamily configuration with consistent unit layouts and an established occupancy profile.
Key Highlights
- 5‑unit apartment building with 4,940 square feet
- All units leased
- Each unit has 2 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,774
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$795,480
$795.5K
Cap Rate 7%
$568,200
$568.2K
Cap Rate 9%
$441,933
$441.9K
Market Conditions
NOI Build-Up for 4,940 SF
Gross rent
$81.8K $16.56/SF
− Vacancy
−$9.5K −$1.92/SF
EGI
$72.3K $14.64/SF
− OpEx
−$32.5K −$6.59/SF
NOI
$39.8K $8.05/SF
Area
Hidalgo County, TX
Vacancy
11.60%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$795,480
Cap Rate 7%
$568,200
Cap Rate 9%
$441,933
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 authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
Explore this area
Business Placement
Demographics for 78572, TX
78,280
Population
32,696
Households
2.4
Avg Household Size
36
Median Age
25%
College-Educated
75%
High-School Grad
53.7 sq mi
ZIP Area
1,458
Density / Sq Mi
$54,029
Median Household Income
$30,004
Median Earnings
$900
Median Rent
$121,900
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
Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased apartment property with two-bedroom, two-bath units, central air, and electric heating.
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: 5‑unit apartment building with 4,940 square feet; All units leased; Each unit has 2 bedrooms and 2 bathrooms
