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    3501 Inspiration Rd Mission, TX 78573

    For Sale
    $334,000

    High-yield fourplex, strong rental income.

    Property size:
    3,520 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This well-maintained, one-story, four-unit apartment building presents a compelling investment opportunity in Mission, Texas. Built in 2002 and extensively renovated in 2024, the property boasts 3,520 square feet on a 12,144.96 square foot lot. Currently generating a $21,840 annual NOI, with a 6.54% cap rate, pro forma projections indicate a significant increase to $26,520 NOI and a 7.94% cap rate. The asking price is $334,000, translating to $83,500 per unit and $94.89 per square foot. Three units currently rent for $700 per month, and one unit rents for $850 per month. Post-renovation, market rents are projected at $850 per unit, significantly increasing the property's income potential. The property's convenient location across from a park and laundromat, coupled with its proximity to local amenities, schools, and public transportation, ensures strong tenant demand. This turnkey investment is ideal for investors seeking reliable returns and significant appreciation potential. The property is classified as a Class B multifamily building.

    Property Features for 3501 Inspiration Rd

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,520 SF
    Class
    B

    Building Details

    Year Built/Renovated
    2002/2024
    Buildings
    1
    Stories
    1
    Units
    4

    HighLights

    • $334,000 asking price for a fourplex in Mission, TX.
    • 3,520 square feet, Class B multifamily property on a 12,144.96 sq ft lot.
    • Built in 2002, renovated in 2024, featuring four units.
    • Current NOI of $21,840, with a pro‑forma NOI of $26,520, resulting in a 6.54% cap rate and a pro‑forma cap rate of 7.94%.
    • $83,500 per unit price.
    • Located at 3501 N Inspiration Road, Mission, TX 78573, across from a park and laundromat.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tortillas de Harina ... Mexican Restaurant

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.344317013147
    Latitude
    26.250900895186

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    FAQs

    What type of property is this?
    Multifamily property - High-yield fourplex, strong rental income.
    Where is this multifamily property located?
    The property is located at 3501 Inspiration Rd Mission, TX.
    What is the asking price?
    The asking price for this property is $334,000.
    What are key features of this property?
    This property features: $334,000 asking price for a fourplex in Mission, TX.; 3,520 square feet, Class B multifamily property on a 12,144.96 sq ft lot.; Built in 2002, renovated in 2024, featuring four units.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3501 Inspiration Rd Mission, TX 78573
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