Contemporary Fourplex with Fenced
For Sale
$490,000
909 W La Pointe Avenue, Mission, TX 78573
Residential Income, Mission, TX
Property Size4,032 SF
Lot Size0.26 Acres
Price / SF$121.53
Days on Market96
Property Features for 909 W La Pointe Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Parking
2
Parking features
None
Patio and Porch features
Patio
Exterior features
Sprinkler System
Appliances
Electric Water Heater, Smooth Electric Cooktop, Dishwasher, Dryer, Microwave, Refrigerator, Washer
Subdivision
Sunset Valley Apartments Ph. 2
Lot features
Mature Trees, Sidewalks
Elementary school
Cantu
Middle school
Alton-Memorial Junior High
High school
Mission H.S.
Elementary school district
Mission ISD
Middle school district
Mission ISD
High school district
Mission ISD
Directions
Once on Conway St head North till W.Mile 5 Road [Commerce St - 676 ] here you turn West/Left till N.Trosper Rd. here turn North keep going till W. Mahala Ave [Gate Location] here you go West /North on N. Kentucky St. Then head to La Pointe Ave the apartments are on the south side / Left side.
Standard status
Active
APN
S765700000002700
Size
4,032 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12975
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
fenced-in yard
Building Details
Year built
2022
Floors in Building
1
Number of units
4
Building materials
Brick
Roof type
Composition
Listing Agency:
RE/MAX elite · RE/MAX International
(956) 583-2100
Listed By:
Gladys I Ramos · License #548758
(956) 929-1473
Added: Jun 9
Changed: Sep 4
Last Checked: Sep 12 at 11:06PM
MLS# 504141
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fourplex contains four open-concept apartments, each configured with 3 bedrooms and 2 bathrooms. The 4,032-square-foot property sits on 0.2638 acres and is identified as under construction. Interior features include quartz countertops, contemporary cabinetry, tile flooring, energy-efficient lighting, and appliances including refrigerators, dishwashers, microwaves, smooth electric cooktops, washers, and dryers. Central heating and central air serve the units.
Each apartment has its own fenced yard, with patios providing additional outdoor space. The exterior is brick with a composition roof and includes a sprinkler system. The property is located at 909 W La Pointe Avenue in Mission, Texas, within Hidalgo County and ZIP code 78573.
Each apartment has its own fenced yard, with patios providing additional outdoor space. The exterior is brick with a composition roof and includes a sprinkler system. The property is located at 909 W La Pointe Avenue in Mission, Texas, within Hidalgo County and ZIP code 78573.
Key Highlights
- Fourplex with 4,032 square feet on 0.2638 acres
- Four apartments, each with 3 bedrooms and 2 bathrooms
- Each unit includes a private fenced yard and patio
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
$35,260
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
7.20%
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%
$705,200
$705.2K
Cap Rate 7%
$503,714
$503.7K
Cap Rate 9%
$391,778
$391.8K
Market Conditions
NOI Build-Up for 4,032 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
$56.6K $14.04/SF
− Vacancy
−$6.2K −$1.55/SF
EGI
$50.4K $12.49/SF
− OpEx
−$15.1K −$3.75/SF
NOI
$35.3K $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%
$705,200
Cap Rate 7%
$503,714
Cap Rate 9%
$391,778
Alternative Uses
Best Use
Multifamily LT 5
$503.7K
$440.8K – $587.7K
NOI $35,260 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$463.8K
$405.8K – $541.1K
NOI $32,464 @ 7.0% cap · market cap 6.63%
Theoretical Best
Hotel Hospitality
$3.04M
$2.66M – $3.54M
NOI $212,587 @ 7.0% cap · market cap 43.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
177
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 - Under-construction quadplex with open-plan apartments, modern finishes, complete appliance packages, and individual outdoor spaces.
Where is this quadplex located?
The property is located at 909 W La Pointe Avenue Mission, TX.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Fourplex with 4,032 square feet on 0.2638 acres; Four apartments, each with 3 bedrooms and 2 bathrooms; Each unit includes a private fenced yard and patio
