Mission, TX 5-Plex
407 S Minnesota Road Mission, TX 78572
For Sale
$535,000
MULTI_FAMILY - Mission, TX
Property Size4,940 SF
Lot Size0.50 Acres
Price / SF$108.30
Days on Market44
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
Listed By:
Rene Flores
(956) 250-2084
Added: Jun 14
Last Checked: Jul 27 at 6:06PM
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.
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
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 authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
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
