Newer Income-Producing Quadplex For
For Sale
Contact for pricing
706 Thompson Road, Mission, TX 78573
Four-unit property with modern amenities and excellent rental history.
Property Size3,266 SF
Price / SF$130.13
Days on Market944
Property Features for 706 Thompson Road
General Information
Standard status
Active
Size
3,266 SF
Total Parking Spaces
8
Property subtype
Multifamily
Building Details
Year Built
2021
Buildings
2
Units
4
Listing Agency:
Bryan Bjerke - Office
Listed By:
Gilberto Gutierrez
Source:
Crexi
Added: Mar 14, 2024
Changed: Oct 2
Last Checked: Oct 12 at 7:37PM
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 Bryan Bjerke - Office
Investment Insights
Based on property information with market context.
This 3,266 square foot income-producing property is a four-year-old quadplex located in front of Escobar Rios Elementary off Trosper Rd. in Mission. The property features one-year-old shingles and paint. Each of the four units includes two bedrooms, two bathrooms, and a two-car carport. Each unit is equipped with a stove, refrigerator, micro hood, and a washer/dryer laundry center. The apartments feature tile flooring throughout, granite kitchen countertops, and granite in the family bathrooms. Additional features include cable readiness, a security system, ceiling fans, and a linen closet. The closets in both bedrooms have two rods for hanging clothes. A sprinkler system irrigates the carpet grass throughout the property. The back door of each unit leads to a private backyard. The property has an excellent rental history and is fully rented. It is located close to shopping centers in Palmhurst and Mission. The entire fence has been painted.
Key Highlights
- Income‑producing property with excellent rental history.
- Fully rented, ensuring immediate cash flow.
- Relatively new construction (built in 2021) with recent updates (1‑year‑old shingles and paint).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,561
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,220
$571.2K
Cap Rate 7%
$408,014
$408.0K
Cap Rate 9%
$317,344
$317.3K
Market Conditions
NOI Build-Up for 3,266 SF
Gross rent
$45.9K $14.04/SF
− Vacancy
−$5.1K −$1.55/SF
EGI
$40.8K $12.49/SF
− OpEx
−$12.2K −$3.75/SF
NOI
$28.6K $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 Rate 5%
$571,220
Cap Rate 7%
$408,014
Cap Rate 9%
$317,344
Alternative Uses
Best Use
Multifamily LT 5
$408.0K
$357.0K – $476.0K
NOI $28,561 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$375.7K
$328.7K – $438.3K
NOI $26,296 @ 7.0% cap · market cap 6.19%
Theoretical Best
Hotel Hospitality
$2.46M
$2.15M – $2.87M
NOI $172,200 @ 7.0% cap · market cap 40.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Explore this area
Business Placement
Demographics for 78573, TX
42,229
Population
13,339
Households
3.2
Avg Household Size
29
Median Age
15%
College-Educated
63%
High-School Grad
36.7 sq mi
ZIP Area
1,151
Density / Sq Mi
$51,185
Median Household Income
$27,730
Median Earnings
$909
Median Rent
$154,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with modern amenities and excellent rental history.
Where is this quadplex located?
The property is located at 706 Thompson Road Mission, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Income‑producing property with excellent rental history.; Fully rented, ensuring immediate cash flow.; Relatively new construction (built in 2021) with recent updates (1‑year‑old shingles and paint).
