Leased Fourplex Near
For Sale
$485,000
906 E Tom Landry Street, Mission, TX 78573
Fully leased fourplex with two bedrooms and two bathrooms per unit.
Property Size3,654 SF
Days on Market168
Property Features for 906 E Tom Landry Street
General Information
Standard status
Active
Size
3,654 SF
Total Parking Spaces
8
Property subtype
Multi Family Home
Taxes and HOA fees
Annual Taxes
$11,335
Building Details
Building Size
3,654 SF
Year Built
2022
Buildings
2
Stories
1
Units
4
Listing Agency:
JSL Living, LLC
(956) 715-7734
Listed By:
Jessica Saenz-Luna
(956) 715-0869
Source:
Buyingandsellingmcallen
Added: Mar 26
Changed: Sep 8
Last Checked: Sep 8 at 7:10AM
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 JSL Living, LLC
Investment Insights
Based on property information with market context.
This is a fully leased fourplex. Each of the four units features two bedrooms and two full bathrooms. The property is conveniently located near the 5x5 brewery, restaurants, and shops.
Key Highlights
- Fully Leased 4‑Plex - a great investment opportunity.
- Each unit features 2 bedrooms and 2 full bathrooms.
- Built in 2022.
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
$31,954
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
6.59%
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%
$639,080
$639.1K
Cap Rate 7%
$456,486
$456.5K
Cap Rate 9%
$355,044
$355.0K
Market Conditions
NOI Build-Up for 3,654 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
$51.3K $14.04/SF
− Vacancy
−$5.7K −$1.55/SF
EGI
$45.6K $12.49/SF
− OpEx
−$13.7K −$3.75/SF
NOI
$32.0K $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%
$639,080
Cap Rate 7%
$456,486
Cap Rate 9%
$355,044
Alternative Uses
Best Use
Multifamily LT 5
$456.5K
$399.4K – $532.6K
NOI $31,954 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$420.3K
$367.8K – $490.3K
NOI $29,420 @ 7.0% cap · market cap 6.07%
Theoretical Best
Hotel Hospitality
$2.75M
$2.41M – $3.21M
NOI $192,657 @ 7.0% cap · market cap 39.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
891
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased fourplex with two bedrooms and two bathrooms per unit.
Where is this quadplex located?
The property is located at 906 E Tom Landry Street Mission, TX.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Fully Leased 4‑Plex - a great investment opportunity.; Each unit features 2 bedrooms and 2 full bathrooms.; Built in 2022.
