Duplex with
129 E Gardenia Street, South Padre Island, TX 78597
For Sale
New
$599,000
Residential Income, South Padre Island, TX
Property Size2,625 SF
Lot Size0.14 Acres
Price / SF$228.19
Days on Market4
Property Features for 129 E Gardenia Street
General Information
Property type
Property subtype
Parking
Exterior features
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Cooling system
Water front
Amenities
balconies
backyard
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Buildings
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Deldi M. Ortegon · License TX #0433744
(956) 225-5509
Added: Nov 11
Changed: Nov 12
Last Checked: Nov 14 at 3:06AM
MLS# 520142
Copyright © 2026 Greater McAllen Association 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 2,625-square-foot duplex, built in 1970, contains two residences with three bedrooms, two full bathrooms, and a kitchen apiece. Three balconies and a backyard provide outdoor areas, and mature trees are part of the grounds. The building has siding, a composition roof, central electric heating, and central air conditioning. Appliances include an electric water heater and smooth electric cooktop.
The property is on E Gardenia Street in South Padre Island, a short walk from the beaches. Its 0.1435-acre lot includes the backyard and tree cover.
The property is on E Gardenia Street in South Padre Island, a short walk from the beaches. Its 0.1435-acre lot includes the backyard and tree cover.
Key Highlights
- Two residences, each with 3 bedrooms, 2 full bathrooms, and a kitchen
- 2,625‑square‑foot duplex on a 0.1435‑acre lot
- Three balconies and a backyard with mature trees
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
$508,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in South Padre Island, TX
Properties on Market for Duplexes in South Padre Island
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include full kitchens, while shared outdoor space includes a backyard and mature trees.
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: Two residences, each with 3 bedrooms, 2 full bathrooms, and a kitchen; 2,625‑square‑foot duplex on a 0.1435‑acre lot; Three balconies and a backyard with mature trees
