Duplex with
For Sale
$599,000
129 E Gardenia Street, South Padre Island, TX 78597
Each residence has three bedrooms, two full bathrooms, and a full kitchen.
Property Size2,625 SF
Price / SF$228.19
Days on Market11
Property Features for 129 E Gardenia Street
General Information
Standard status
Active
Size
2,625 SF
Total Parking Spaces
4
Property subtype
Multi Family Home
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,182
Amenities
balconies
backyard
Ceiling Fan(s)
Microwave
Balcony
Mature Trees
Building Details
Building Size
2,625 SF
Year Built
1970
Buildings
1
Stories
3
Units
2
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Deldi M. Ortegon · License #0433744
(956) 225-5509
Source:
Gdvrealty
Added: Oct 19
Changed: Oct 25
Last Checked: Oct 26 at 4:05AM
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 Keller Williams Realty RGV
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Investment Insights
Based on property information with market context.
This South Padre Island duplex contains 2,625 square feet and was built in 1970. Both residences have three bedrooms, two full bathrooms, a full kitchen, closet space, and a functional layout. Three balconies serve the property, and a backyard provides additional outdoor space.
Key Highlights
- 2,625‑square‑foot duplex built in 1970
- Two residences, each with 3 bedrooms and 2 full bathrooms
- A full kitchen in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,657
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$433,140
$433.1K
Cap Rate 7%
$309,386
$309.4K
Cap Rate 9%
$240,633
$240.6K
Market Conditions
NOI Build-Up for 2,625 SF
Gross rent
$33.1K $12.60/SF
− Vacancy
−$2.1K −$0.81/SF
EGI
$30.9K $11.79/SF
− OpEx
−$9.3K −$3.54/SF
NOI
$21.7K $8.25/SF
Area
Cameron County, TX
Vacancy
6.46%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$433,140
Cap Rate 7%
$309,386
Cap Rate 9%
$240,633
Alternative Uses
Best Use
Multifamily LT 5
$309.4K
$270.7K – $361.0K
NOI $21,657 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$283.7K
$248.3K – $331.0K
NOI $19,861 @ 7.0% cap · market cap 3.32%
Theoretical Best
Healthcare Medical
$452.0K
$395.5K – $527.3K
NOI $31,639 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
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Business Placement
Demographics for 78597, TX
2,479
Population
5,895
Households
0.4
Avg Household Size
56
Median Age
53%
College-Educated
92%
High-School Grad
8.8 sq mi
ZIP Area
282
Density / Sq Mi
$61,357
Median Household Income
$36,843
Median Earnings
$1,421
Median Rent
$508,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms, two full bathrooms, and a full kitchen.
Where is this duplex located?
The property is located at 129 E Gardenia Street South Padre Island, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,625‑square‑foot duplex built in 1970; Two residences, each with 3 bedrooms and 2 full bathrooms; A full kitchen in each unit
