3-Unit Triplex Income
For Sale
$205,000
Pending
603 N Saint Marie St, Mission, TX 78572
Triplex with three 2-bedroom, 1-bath units and recent exterior updates in an established Mission neighborhood.
Property Size2,310 SF
Days on Market140
Property Features for 603 N Saint Marie St
General Information
Standard status
Pending
Size
2,310 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,176
Listing Agency:
Imperio Real Estate LLC
(956) 803-0341
Listed By:
Abiel De La Torre
(956) 336-8368
Source:
Exprealty
Added: Apr 21
Changed: Sep 4
Last Checked: Sep 6 at 12:50PM
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 Imperio Real Estate LLC
Investment Insights
Based on property information with market context.
This income-producing triplex offers three separate units, each featuring 2 bedrooms and 1 bathroom. Recent exterior updates have been completed, helping improve curb appeal and reducing near-term exterior maintenance needs.
The property is centrally located in Mission, TX, with convenient access to an expressway and nearby schools, parks, restaurants, and retail. It sits within a well-established neighborhood described as having consistent rental demand.
An additional opportunity is available next door, with 601 N Saint Marie also listed for sale, which may appeal to investors looking to expand with multiple adjacent units.
The property is centrally located in Mission, TX, with convenient access to an expressway and nearby schools, parks, restaurants, and retail. It sits within a well-established neighborhood described as having consistent rental demand.
An additional opportunity is available next door, with 601 N Saint Marie also listed for sale, which may appeal to investors looking to expand with multiple adjacent units.
Key Highlights
- Income‑producing triplex in Mission, TX built in 1996
- 3 units total, each with 2 bedrooms and 1 bathroom
- Recent exterior updates
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
$18,599
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
9.07%
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%
$371,980
$372.0K
Cap Rate 7%
$265,700
$265.7K
Cap Rate 9%
$206,656
$206.7K
Market Conditions
NOI Build-Up for 2,310 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
$38.3K $16.56/SF
− Vacancy
−$4.4K −$1.92/SF
EGI
$33.8K $14.64/SF
− OpEx
−$15.2K −$6.59/SF
NOI
$18.6K $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 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%
$371,980
Cap Rate 7%
$265,700
Cap Rate 9%
$206,656
Alternative Uses
Best Use
Multifamily LT 5
$288.6K
$252.5K – $336.7K
NOI $20,201 @ 7.0% cap · market cap 9.85%
Second Best
Apartment 5plus
$265.7K
$232.5K – $310.0K
NOI $18,599 @ 7.0% cap · market cap 9.07%
Theoretical Best
Hotel Hospitality
$1.74M
$1.52M – $2.03M
NOI $121,795 @ 7.0% cap · market cap 59.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
871
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex with three 2-bedroom, 1-bath units and recent exterior updates in an established Mission neighborhood.
Where is this triplex located?
The property is located at 603 N Saint Marie St Mission, TX.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Income‑producing triplex in Mission, TX built in 1996; 3 units total, each with 2 bedrooms and 1 bathroom; Recent exterior updates
