Triplex with Newer
For Sale
$279,000
995 Washington Ave, Mission, TX 78574
Three connected residences provide a straightforward multifamily configuration with shared laundry and backyard patio space.
Property Size2,465 SF
Price / SF$113.18
Days on Market22
Property Features for 995 Washington Ave
General Information
Standard status
Active
Size
2,465 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,503
Amenities
backyard patio
laundry room
Building Details
Buildings
1
Listing Agency:
Red Door Real Estate Services
(956) 655-9601
Listed By:
Sandra S. Saenz
(956) 655-9601
Source:
Exprealty
Added: Aug 10
Changed: Aug 20
Last Checked: Aug 30 at 8:41PM
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 Red Door Real Estate Services
Investment Insights
Based on property information with market context.
This 2,465-square-foot triplex consists of three connected units within one building, with each residence offering two bedrooms and one bathroom. The property also includes a laundry room, backyard patio, and a newer roof, providing practical features for a multifamily operation.
Located at 995 Washington Ave in Mission, the property is near shops, schools, and restaurants. Its three-unit layout and shared building configuration offer a compact residential income asset with established on-site amenities.
Located at 995 Washington Ave in Mission, the property is near shops, schools, and restaurants. Its three-unit layout and shared building configuration offer a compact residential income asset with established on-site amenities.
Key Highlights
- Three connected 2‑bedroom, 1‑bath units in one building
- 2,465 SF triplex
- Newer roof
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
$21,556
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
7.73%
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%
$431,120
$431.1K
Cap Rate 7%
$307,943
$307.9K
Cap Rate 9%
$239,511
$239.5K
Market Conditions
NOI Build-Up for 2,465 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
$34.6K $14.04/SF
− Vacancy
−$3.8K −$1.55/SF
EGI
$30.8K $12.49/SF
− OpEx
−$9.2K −$3.75/SF
NOI
$21.6K $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 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%
$431,120
Cap Rate 7%
$307,943
Cap Rate 9%
$239,511
Alternative Uses
Best Use
Multifamily LT 5
$307.9K
$269.5K – $359.3K
NOI $21,556 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$283.5K
$248.1K – $330.8K
NOI $19,847 @ 7.0% cap · market cap 7.11%
Theoretical Best
Hotel Hospitality
$1.86M
$1.62M – $2.17M
NOI $129,967 @ 7.0% cap · market cap 46.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
220
Businesses Nearby
Explore this area
Business Placement
Demographics for 78574, TX
63,627
Population
18,309
Households
3.5
Avg Household Size
28
Median Age
16%
College-Educated
58%
High-School Grad
51.9 sq mi
ZIP Area
1,226
Density / Sq Mi
$52,536
Median Household Income
$28,029
Median Earnings
$807
Median Rent
$119,000
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?
Triplex - Three connected residences provide a straightforward multifamily configuration with shared laundry and backyard patio space.
Where is this triplex located?
The property is located at 995 Washington Ave Mission, TX.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Three connected 2‑bedroom, 1‑bath units in one building; 2,465 SF triplex; Newer roof
