Mission, TX 5-Plex
407 S Minnesota Road, Mission, TX 78572
MULTI_FAMILY - Mission, TX
Property size:
4,940 SFLot size:
0.50 AcresPrice / SF:
$108/SF- Added:
- Mar 5, 2026
- Days on Market:
- 89
- Last Refresh:
- Jun 2 at 4:06 pm
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
- Electric (Heating), Central
- 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 agent Rene Flores (956) 250-2084
Listing office eXp Realty LLC 9600 Great Hills Trail #150w, Austin, TX (888) 519-7431
Listing date Mar 5, 2026
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.
HighLights
- Fully occupied 5‑plex, ensuring immediate rental income.
- Steady cash flow with 2‑bed, 2‑bath units.
- Low tenant turnover, maximizing investment stability.
- Located in a desirable area with easy access to local amenities.
- Built in 2004 with brick construction.
- Central electric heating and cooling.
Overview
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.
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 Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Mission
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.381174
- Latitude
- 26.231599
Nearby Similar for Sale
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, ensuring immediate rental income.; Steady cash flow with 2‑bed, 2‑bath units.; Low tenant turnover, maximizing investment stability.
