Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2904 Israel Ave Mission, TX 78573
    Back to Search
    Property profile & analytics

    2904 Israel Ave Mission, TX 78573

    View on Map
    • Apartment buildings
    • 4,168 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 2904 Israel Ave

    Year built
    2024
    Property size
    4,168 SF
    Property type
    Apartment buildings

    Description

    This exceptional investment opportunity presents two brand-new, fully leased fourplex buildings in the desirable Sunterra community of Alton, Texas. Completed in 2024, the property boasts a total of 4 units, two 2-bedroom/2-bathroom and two 3-bedroom/2-bathroom units, all featuring high-end Samsung appliances (stove, microwave, refrigerator with water/ice, and stacked washer/dryer). The 4,168 square foot property sits on an 11,512 square foot lot and includes 8 parking spaces. The buildings feature zero-maintenance brick and rock exteriors, mature landscaping, and low-maintenance walkways. The open floor plans, designer color schemes, LED lighting, and ceiling fans create bright and comfortable living spaces. Each unit includes a private ensuite master bathroom with a fully tiled walk-in shower. Located in a highly-rated school district, this property benefits from its proximity to employment centers (within 6 miles) while enjoying a tranquil setting with grassland views and a nearby lake. The property offers a 7.83% cap rate and a pro-forma NOI of $42,228, with an asking price of $539,500 ($134,875 per unit and $129.44 per square foot). The property is zoned for multi-family residential use. This is a turnkey investment with exceptional potential for strong returns. The 100% occupancy rate is effective September 1, 2024.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2914
    Latitude
    26.2744

    Comparable in this City

    • Value Estimation by Request
      4,080 SF

      1308 Yankton St

      Multifamily properties • 4,080 SF
      1308 Yankton St, Alton, TX 78573
      View Details
    • Value Estimation by Request
      22.80 Acres

      Bryan Rd

      Multifamily properties • 22.80 Acres
      0 Bryan Rd, Mission, TX 78573
      View Details
    • Value Estimation by Request

      4002 Inspiration Rd

      Multifamily properties
      4002 Inspiration Rd, Mission, TX 78573
      View Details
    • Value Estimation by Request

      825 Missouri St

      Multifamily properties
      825 Missouri St, Alton, TX 78573
      View Details
    • Value Estimation by Request
      0.25 Acres

      7006 56 Ln

      Multifamily properties • 0.25 Acres
      7006 56 Ln, Palmhurst, TX 78573
      View Details
    • Value Estimation by Request

      901 Maryland St

      Multifamily properties
      901 Maryland St, Alton, TX 78573
      View Details

    Similar Nearby for Sale

    • $429,000
      0.17 Acres

      Turnkey Multifamily Property in Alton

      Six-unit multifamily property built in 2015, ideal for investment.
      108 N Linares St, Alton, TX 78573
      View Details
    • $1,225,000
      7.44 Acres

      Alton Multifamily Investment Opportunity

      7.44-acre property with rental income and expansion potential.
      2215 E Main Ave, Alton, TX 78573
      View Details
    • $1,325,000
      12,896 SF

      Alton Multifamily Investment Opportunity

      14-unit apartment complex on 0.83 acres in Alton, TX.
      1503 W St Francis Ave, Alton, TX 78573
      View Details
    • $445,000

      Mission, TX Apartment Building Investment

      Four-unit multifamily, excellent ROI potential.
      2712 Eisenhower Ave, Mission, TX 78573
      View Details
    • $334,000
      3,520 SF

      Mission, TX Fourplex Investment

      High-yield fourplex, strong rental income.
      3501 Inspiration Rd, Mission, TX 78573
      View Details
    • $545,000
      0.25 Acres

      Prime Palmhurst Fourplex Investment

      Four-unit apartment building, excellent cash flow.
      7006 56 Ln, Palmhurst, TX 78573
      View Details

    Similar Nearby for Lease

    • $2,800 /Mo
      1,760 SF

      Alton Commercial Property For Lease

      Commercial property for lease in high-traffic Alton location.
      610 S Alton Blvd, Alton, TX 78573
      View Details
    • $1,800 /Mo
      40,511 SF

      Commercial Land For Lease

      Land for lease in high-traffic Alton location.
      700 Alton Blvd, Alton, TX 78573
      View Details
    • $20 SF/Yr
      9,998 SF

      Mission Retail Space For Lease

      Retail space available in high-traffic Mission location.
      10211 Mile 7 Rd, Mission, TX 78573
      View Details
    • $1,200 /Mo
      26,572 SF

      Retail Space in High-Traffic Location

      Retail space available for lease in North Mission, Texas.
      208 South Alton Blvd, Alton, TX 78573
      View Details
    • $20 SF/Yr
      1,789 SF

      9,998 SF Plaza Space Available

      Office and retail spaces available in high-traffic Mission plaza.
      10400 N 103Rd St, Mission, TX 78573
      View Details
    • $24 SF/Yr
      9,998 SF

      Retail Space in Plaza Emmanuel

      Retail space available in high-traffic Mission, Texas location.
      10211 Mile 7 Rd, Mission, TX 78573
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2904 Israel Ave
    Mission, TX 78573
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2904 Israel Ave, Mission, TX, 78573
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!