Duplex with Covered
109 Cedar, Midland, TX 79705
For Sale
New
$265,000
Residential Income, Midland, TX
Property Size1,844 SF
Lot Size0.19 Acres
Price / SF$143.71
Days on Market2
Property Features for 109 Cedar
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Rooms
Patio and Porch features
Exterior features
Fencing
Fireplace
Subdivision
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
fireplace
breakfast area
dedicated driveway parking
covered patios
wood fencing
Building Details
Year built
Floors in Building
Roof type
Buildings
Listing Agency:
VIP Realty
(214) 295-4888
Listed By:
Eric Gonzalez
(432) 631-6703
Added: Nov 9
Last Checked: Nov 10 at 4:06AM
MLS# 50099535
Copyright © 2026 Permian Basin Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1983 duplex contains two two-bedroom, one-bathroom residences with approximately 1,844 square feet combined. Each side has a living room fireplace, breakfast area, granite kitchen counters, vinyl flooring, and a covered patio. Stoves and refrigerators are included, and wood fencing encloses the property.
The units are currently tenant-occupied. The parcel measures 0.193 acres and is served by public water and public sewer. Central heating and air conditioning serve the property.
The units are currently tenant-occupied. The parcel measures 0.193 acres and is served by public water and public sewer. Central heating and air conditioning serve the property.
Key Highlights
- Two tenant‑occupied units, each with 2 bedrooms and 1 bathroom
- Approximately 1,844 square feet across both residences
- 0.193‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,477
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,540
$329.5K
Cap Rate 7%
$235,386
$235.4K
Cap Rate 9%
$183,078
$183.1K
Market Conditions
NOI Build-Up for 1,844 SF
Gross rent
$25.4K $13.80/SF
− Vacancy
−$1.9K −$1.04/SF
EGI
$23.5K $12.77/SF
− OpEx
−$7.1K −$3.83/SF
NOI
$16.5K $8.94/SF
Area
Midland, TX
Vacancy
7.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,540
Cap Rate 7%
$235,386
Cap Rate 9%
$183,078
Alternative Uses
Best Use
Multifamily LT 5
$235.4K
$206.0K – $274.6K
NOI $16,477 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$219.5K
$192.0K – $256.0K
NOI $15,362 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$435.0K
$380.6K – $507.5K
NOI $30,448 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
Explore this area
Business Placement
Demographics for 79705, TX
44,138
Population
20,021
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
91%
High-School Grad
79.4 sq mi
ZIP Area
556
Density / Sq Mi
$105,106
Median Household Income
$60,415
Median Earnings
$1,431
Median Rent
$329,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both two-bedroom residences are occupied and include dedicated driveway parking.
Where is this duplex located?
The property is located at 109 Cedar Midland, TX.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two tenant‑occupied units, each with 2 bedrooms and 1 bathroom; Approximately 1,844 square feet across both residences; 0.193‑acre parcel
