Brick Quadplex with Upgraded
New
For Sale
$369,900
4308 Kings Drive, Mission, TX 78574
Residential Income, Mission, TX
Property Size3,720 SF
Lot Size0.41 Acres
Price / SF$99.44
Days on Market2
Property Features for 4308 Kings Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
None
Exterior features
Balcony
Appliances
Electric Water Heater, Stove/Range
Subdivision
Villa Capri
Lot features
Sidewalks
Elementary school
Paredes
Middle school
Memorial
High school
La Joya H.S.
Elementary school district
La Joya ISD
Middle school district
La Joya ISD
High school district
La Joya ISD
Directions
Please enter GPS.
Standard status
Active
APN
V350000000000600
Size
3,720 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7151
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2014
Floors in Building
2
Number of units
10
Building materials
Brick
Roof type
Shingle
Listing Agency:
BIG Realty
(956) 465-0011
Listed By:
Imelda Saldivar
(956) 605-2079
Added: Sep 21
Last Checked: Sep 22 at 11:06AM
MLS# 515899
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 3,720-square-foot quadplex contains four residential units on a 0.41-acre parcel in Mission. Built in 2014, the property features brick construction, shingle roofing, balconies, central heating, and central air conditioning. Each kitchen has received updates, including replaced countertops, while electric water heaters and stove/range appliances are provided.
Two apartments are currently leased, and leasing activity is underway for the remaining two units. The property is served by public water and does not include designated parking features.
Two apartments are currently leased, and leasing activity is underway for the remaining two units. The property is served by public water and does not include designated parking features.
Key Highlights
- Four‑unit quadplex built in 2014
- 3,720 square feet on 0.41 acres
- Kitchen updates across all four units, including replaced countertops
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,531
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$650,620
$650.6K
Cap Rate 7%
$464,729
$464.7K
Cap Rate 9%
$361,456
$361.5K
Market Conditions
NOI Build-Up for 3,720 SF
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.
Gross rent
$52.2K $14.04/SF
− Vacancy
−$5.8K −$1.55/SF
EGI
$46.5K $12.49/SF
− OpEx
−$13.9K −$3.75/SF
NOI
$32.5K $8.74/SF
Area
Hidalgo County, TX
Vacancy
11.02%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$650,620
Cap Rate 7%
$464,729
Cap Rate 9%
$361,456
Alternative Uses
Best Use
Multifamily LT 5
$464.7K
$406.6K – $542.2K
NOI $32,531 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$427.9K
$374.4K – $499.2K
NOI $29,951 @ 7.0% cap · market cap 8.10%
Theoretical Best
Hotel Hospitality
$2.80M
$2.45M – $3.27M
NOI $196,137 @ 7.0% cap · market cap 53.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
Explore this area
Business Placement
Demographics for 78574, TX
63,627
Population
18,309
Households
3.5
Avg Household Size
28
Median Age
16%
College-Educated
58%
High-School Grad
51.9 sq mi
ZIP Area
1,226
Density / Sq Mi
$52,536
Median Household Income
$28,029
Median Earnings
$807
Median Rent
$119,000
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property with central HVAC, balconies, and refreshed kitchen countertops.
Where is this quadplex located?
The property is located at 4308 Kings Drive Mission, TX.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Four‑unit quadplex built in 2014; 3,720 square feet on 0.41 acres; Kitchen updates across all four units, including replaced countertops
