Remodeled Exterior
601 N Saint Marie Street Mission, TX 78572
601 N Saint Marie Street, Mission, TX, 78572
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For Sale
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Well maintained triplex with three 2-bedroom, 1-bath units and recently remodeled exterior.
Property Size2,310 SF
Price / SF$108.23
Days on Market92
Property Features for 601 N Saint Marie Street
General Information
- Standard status
- Active
- Size
- 2,310 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1996
Listing agency
Torres Real Estate Group
Listed by
Abiel De La Torre
Source
Crexi
Added: Apr 21 Updated: Jul 21 at 4:07AM Checked: Jul 21 at 4:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Torres Real Estate Group
Investment Insights
Based on property information with market context.
601 N Saint Marie Street offers a well maintained triplex configured with three separate units, each providing 2 bedrooms and 1 bathroom. The exterior has been recently remodeled, which can help reduce near-term capital expenses and improve the property’s curb appeal.
The property is located in Mission, TX, conveniently near the expressway with easy access to schools, parks, dining, and shopping. It sits within a quiet, established area described as having strong rental demand. In addition, 603 N Saint Marie next door is also available for sale, creating the option to acquire multiple side-by-side units. Current rents are noted as below market in the provided remarks, presenting potential for increased cash flow through rent improvements over time.
The property is located in Mission, TX, conveniently near the expressway with easy access to schools, parks, dining, and shopping. It sits within a quiet, established area described as having strong rental demand. In addition, 603 N Saint Marie next door is also available for sale, creating the option to acquire multiple side-by-side units. Current rents are noted as below market in the provided remarks, presenting potential for increased cash flow through rent improvements over time.
Key Highlights
- Well maintained triplex built in 1996 with 3 units, each offering 2 bedrooms and 1 bathroom
- Recently remodeled exterior to help minimize immediate capital expenses
- Current rents are below market, creating potential for increased cash flow
Local Financial Insights For Multifamily LT 5
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 | $32.4k | $14.04 |
| − Vacancy | −$3.6k | −$1.55 |
| EGI | $28.9k | $12.49 |
| − OpEx | −$8.7k | −$3.75 |
| NOI | $20.2k | $8.74 |
2,310 SF · lease $14.04/SF/yr · vacancy 11.02% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$288.6K
$252.5K – $336.7K
NOI $20,201 @ 7.0% cap · market cap 8.08%
Second Best
Apartment 5plus
$265.7K
$232.5K – $310.0K
NOI $18,599 @ 7.0% cap · market cap 7.44%
Theoretical Best
Hotel Hospitality
$1.74M
$1.52M – $2.03M
NOI $121,795 @ 7.0% cap · market cap 48.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Well maintained triplex with three 2-bedroom, 1-bath units and recently remodeled exterior.
Where is this triplex located?
The property is located at 601 N Saint Marie Street Mission, TX.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Well maintained triplex built in 1996 with 3 units, each offering 2 bedrooms and 1 bathroom; Recently remodeled exterior to help minimize immediate capital expenses; Current rents are below market, creating potential for increased cash flow
