Newer Duplex Investment
605 W CYPRESS La Feria, TX 78559
605 W CYPRESS, La Feria, TX, 78559
$295,000
For Sale
$295,000
MULTI_FAMILY - LA FERIA, TX
Property Size1,812 SF
Lot Size0.14 Acres
Price / SF$162.80
Days on Market130
Property Features for 605 W CYPRESS
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Garage, Carport
- Interior features
- Ceiling Fan(s), Smoke Alarm(s)
- Fencing
- Privacy
- Appliances
- Range, Refrigerator
- Standard status
- Active
- Size
- 1,812 SF
- Lot size
- 0.14 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 2022
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Tile
Listing Agency
MARCUS PHIPPS REAL ESTATE, LLC
(956) 423-5300
1617 E Tyler Suite H, HARLINGEN, TX
Listed by
MARCUS PHIPPS · License #0450735
(956) 793-2355
Added: Mar 11 Checked: Jul 18 at 12:06 am
MLS# 29774824
Listing URL
Copyright © 2026 Rio Grande Valley Multiple Listing Service Inc. 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.
Built in 2022, this duplex property is currently fully leased and offered for sale. Each unit features a two-bedroom, two-bath layout with an open floor plan and modern design elements. The kitchens include quartz countertops, a pantry, and overhanging lamps, while the bedrooms and bath spaces are supported by large walk-in closets with built-ins.
The property is located in La Feria, Texas, with proximity to the expressway, making access convenient for residents and future leasing. Lot size is listed as 0.135 acres and the total property size is 1,812 square feet.
Because the units are occupied, the seller requires drive-by viewing and offers in hand prior to scheduling showings. Not all units may be available to see prior to inspections, which may occur during the option period. The property is already wired for a security system and insulated with spray foam insulation, both of which may support day-to-day resident comfort and maintenance planning for an ownership transition.
The property is located in La Feria, Texas, with proximity to the expressway, making access convenient for residents and future leasing. Lot size is listed as 0.135 acres and the total property size is 1,812 square feet.
Because the units are occupied, the seller requires drive-by viewing and offers in hand prior to scheduling showings. Not all units may be available to see prior to inspections, which may occur during the option period. The property is already wired for a security system and insulated with spray foam insulation, both of which may support day-to-day resident comfort and maintenance planning for an ownership transition.
Key Highlights
- Duplex built in 2022 with two 2‑bedroom, 2‑bath units and an open floor plan
- Fully leased duplex—financials available with NDA during the option period
- Kitchen features quartz countertops, pantry, and includes range and refrigerator
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.8k | $12.60 |
| − Vacancy | −$1.5k | −$0.81 |
| EGI | $21.4k | $11.79 |
| − OpEx | −$6.4k | −$3.54 |
| NOI | $14.9k | $8.25 |
1,812 SF · lease $12.60/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$213.6K
$186.9K – $249.2K
NOI $14,949 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$195.9K
$171.4K – $228.5K
NOI $13,710 @ 7.0% cap · market cap 4.65%
Theoretical Best
Healthcare Medical
$312.0K
$273.0K – $364.0K
NOI $21,840 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Built in 2022, a fully leased two-bedroom, two-bath duplex offering modern interiors and functional, open layouts.
Where is this duplex located?
The property is located at 605 W CYPRESS La Feria, TX.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Duplex built in 2022 with two 2‑bedroom, 2‑bath units and an open floor plan; Fully leased duplex—financials available with NDA during the option period; Kitchen features quartz countertops, pantry, and includes range and refrigerator
