Six-Unit Apartment
For Sale
Contact for pricing
606 North Inspiration Road, Mission, TX 78572
Multifamily property with two-bedroom, two-bath residences and full occupancy.
Property Size5,400 SF
Price / SF$120.37
Days on Market83
Property Features for 606 North Inspiration Road
General Information
Standard status
Active
Size
5,400 SF
Class
B
Property subtype
Multifamily
Zoning
RS
Occupancy
100%
Net Operating Income
$38,655
Units
Unit Mix
6 x 2BR/2BA
Multifamily Units
6
Building Details
Year Built
2019
Year Renovated
2019
Buildings
4
Units
2
Tenancy
Multi
Listing Agency:
TNT Real Estate
Listed By:
Monica Santos · License #617272
Source:
Crexi
Added: Jun 10
Changed: Aug 31
Last Checked: Aug 31 at 5:48AM
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 TNT Real Estate
Investment Insights
Based on property information with market context.
This apartment property contains six residences, each configured with two bedrooms and two bathrooms. Completed in 2019, the building offers 5,400 square feet of residential space and is designated RS zoning.
All six units are occupied, providing an established operating profile for a multifamily owner. The property is located at 606 North Inspiration Road in Mission, Texas, within the Mile 5 and Inspiration Road area.
All six units are occupied, providing an established operating profile for a multifamily owner. The property is located at 606 North Inspiration Road in Mission, Texas, within the Mile 5 and Inspiration Road area.
Key Highlights
- Six‑unit apartment property with six 2‑bedroom, 2‑bathroom units
- 5,400 square feet of residential property
- Built in 2019
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
$43,478
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
6.69%
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%
$869,560
$869.6K
Cap Rate 7%
$621,114
$621.1K
Cap Rate 9%
$483,089
$483.1K
Market Conditions
NOI Build-Up for 5,400 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
$89.4K $16.56/SF
− Vacancy
−$10.4K −$1.92/SF
EGI
$79.1K $14.64/SF
− OpEx
−$35.6K −$6.59/SF
NOI
$43.5K $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%
$869,560
Cap Rate 7%
$621,114
Cap Rate 9%
$483,089
Alternative Uses
Best Use
Apartment 5plus
$621.1K
$543.5K – $724.6K
NOI $43,478 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$4.07M
$3.56M – $4.75M
NOI $284,715 @ 7.0% cap · market cap 43.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
129
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?
Apartment building - Multifamily property with two-bedroom, two-bath residences and full occupancy.
Where is this apartment building located?
The property is located at 606 North Inspiration Road Mission, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Six‑unit apartment property with six 2‑bedroom, 2‑bathroom units; 5,400 square feet of residential property; Built in 2019
