Fully Leased
For Sale
$479,000
909 N Maryland St, Mission, TX 78573
Gated residential income property with brick construction, private yards, covered parking, and appliances included in each unit.
Property Size4,292 SF
Price / SF$111.60
Days on Market315
Property Features for 909 N Maryland St
General Information
Standard status
Active
Size
4,292 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$10,213
Listing Agency:
Coldwell Banker La Mansion
(956) 631-1322
Listed By:
Delfino Cervantes
(956) 240-9376
Source:
Exprealty
Added: Oct 23, 2025
Changed: Aug 30
Last Checked: Aug 31 at 7:56PM
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 Coldwell Banker La Mansion
Investment Insights
Based on property information with market context.
This four-unit residential income property contains 4,292 square feet, with each residence offering three bedrooms, two bathrooms, and 1,073 square feet of living area. The buildings feature full brick exteriors, individual yards, and included appliances. A sprinkler system supports the property, which also includes an eight-car carport, five electric meters, and one water meter.
The quadplex is situated on a corner lot within a gated subdivision in Alton, Texas. Its current leasing status provides an established occupancy profile, while the setting near schools and ongoing city development adds relevant surrounding context for multifamily ownership.
The quadplex is situated on a corner lot within a gated subdivision in Alton, Texas. Its current leasing status provides an established occupancy profile, while the setting near schools and ongoing city development adds relevant surrounding context for multifamily ownership.
Key Highlights
- Four‑unit property totaling 4,292 square feet
- Each unit includes 3 bedrooms, 2 bathrooms, and 1,073 square feet
- Fully leased quadplex in a gated subdivision
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
$37,533
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
7.84%
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%
$750,660
$750.7K
Cap Rate 7%
$536,186
$536.2K
Cap Rate 9%
$417,033
$417.0K
Market Conditions
NOI Build-Up for 4,292 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
$60.3K $14.04/SF
− Vacancy
−$6.6K −$1.55/SF
EGI
$53.6K $12.49/SF
− OpEx
−$16.1K −$3.75/SF
NOI
$37.5K $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%
$750,660
Cap Rate 7%
$536,186
Cap Rate 9%
$417,033
Alternative Uses
Best Use
Multifamily LT 5
$536.2K
$469.2K – $625.6K
NOI $37,533 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$493.7K
$432.0K – $576.0K
NOI $34,557 @ 7.0% cap · market cap 7.21%
Theoretical Best
Hotel Hospitality
$3.23M
$2.83M – $3.77M
NOI $226,296 @ 7.0% cap · market cap 47.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
187
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Gated residential income property with brick construction, private yards, covered parking, and appliances included in each unit.
Where is this quadplex located?
The property is located at 909 N Maryland St Mission, TX.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Four‑unit property totaling 4,292 square feet; Each unit includes 3 bedrooms, 2 bathrooms, and 1,073 square feet; Fully leased quadplex in a gated subdivision
