Built 2022 Duplex
605 & 609 W CYPRESS La Feria, TX 78559
605 & 609 W CYPRESS, La Feria, TX, 78559
$590,000
For Sale
$590,000
MULTI_FAMILY - LA FERIA, TX
Property Size3,620 SF
Lot Size0.27 Acres
Price / SF$162.98
Days on Market130
Property Features for 605 & 609 W CYPRESS
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Carport, Garage
- Interior features
- Ceiling Fan(s), Smoke Alarm(s), Walk-in Closet(s)
- Fencing
- Privacy
- Appliances
- Range, Refrigerator
- Standard status
- Active
- Size
- 3,620 SF
- Lot size
- 0.27 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
- 4
- 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# 29774821
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.
This built-in-2022 multi-family offering consists of two side-by-side duplexes, each laid out as a 2-bedroom, 2-bath residence. The interiors are described as having an open floor plan and modern design. The kitchens feature quartz countertops with a pantry, and the homes include large walk-in closets with built-ins. The master baths are noted as a standout feature. Additional improvements include spray foam insulation and the property being wired for a security system.
The duplex pair is located at 605 & 609 W Cypress in La Feria, Texas, on a 0.27-acre site. The remarks indicate the property is only minutes from the expressway and is situated within a desirable neighborhood.
Because the duplexes are fully leased, this is positioned for buyers seeking an income-producing residential asset with newer construction. The information provided notes that financials are available with an NDA during the option period, and that buyers should plan on drive-by review and having offers in hand before showings are scheduled, since not all units may be available to view prior to inspections during the option period.
The duplex pair is located at 605 & 609 W Cypress in La Feria, Texas, on a 0.27-acre site. The remarks indicate the property is only minutes from the expressway and is situated within a desirable neighborhood.
Because the duplexes are fully leased, this is positioned for buyers seeking an income-producing residential asset with newer construction. The information provided notes that financials are available with an NDA during the option period, and that buyers should plan on drive-by review and having offers in hand before showings are scheduled, since not all units may be available to view prior to inspections during the option period.
Key Highlights
- Built in 2022: two side‑by‑side 2‑bedroom, 2‑bath duplexes (multi‑family)
- Fully leased; units are occupied, with drive‑by looks and offers in‑hand required before scheduling showings
- Open floor plan design with tile flooring; equipped with 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 | $45.6k | $12.60 |
| − Vacancy | −$2.9k | −$0.81 |
| EGI | $42.7k | $11.79 |
| − OpEx | −$12.8k | −$3.54 |
| NOI | $29.9k | $8.25 |
3,620 SF · lease $12.60/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$426.7K
$373.3K – $497.8K
NOI $29,866 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$391.3K
$342.4K – $456.5K
NOI $27,389 @ 7.0% cap · market cap 4.64%
Theoretical Best
Healthcare Medical
$623.3K
$545.4K – $727.2K
NOI $43,631 @ 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
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Two side-by-side, fully leased duplexes with modern 2-bedroom, 2-bath layouts built in 2022.
Where is this quadplex located?
The property is located at 605 & 609 W CYPRESS La Feria, TX.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Built in 2022: two side‑by‑side 2‑bedroom, 2‑bath duplexes (multi‑family); Fully leased; units are occupied, with drive‑by looks and offers in‑hand required before scheduling showings; Open floor plan design with tile flooring; equipped with range and refrigerator
