Six-Unit Duplex
New
For Sale
$813,000
1801 Midlane Dr, Harlingen, TX 78552
Residential Income, Harlingen, TX
Property Size5,880 SF
Lot Size0.84 Acres
Price / SF$138.27
Days on Market1
Property Features for 1801 Midlane Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
multi
Bedrooms
12
Bathrooms
12
Full bathrooms
12
Rooms
Bedroom 7, Bathroom 11, Bedroom 11, Bedroom 9, Bedroom 10, Bathroom 2, Bedroom 5, Bathroom 4, Bathroom 6, Bedroom 6, Bedroom 2, Bedroom 8, Bedroom 12, Bathroom 5, Bathroom 7, Bathroom 12, Bathroom 1, Bathroom 8, Bedroom 4, Bedroom 1, Bathroom 9, Bathroom 10, Bathroom 3, Bedroom 3
Parking features
Assigned
Patio and Porch features
Patio
Interior features
Cabinets-Manufactured, Ceiling Fan(s), Ceilings-Elevated, Smoke Detector, Walk-in Closet, Washer/Dryer Hook-up
Exterior features
Fence - Privacy, Patio
Fencing
Privacy
Appliances
Oven-Single, Refrigerator, Stove
Elementary school district
Harlingen CISD
Middle school district
Harlingen CISD
High school district
Harlingen CISD
Subdivision
Harlingen
Standard status
Active
Size
5,880 SF
Lot size
0.84 Acres
Taxes and HOA fees
Tax Year
2005
Tax Annual Amount
8541
Amenities
private backyards
Building Details
Year built
2003
Floors in Building
1
Number of units
6
Flooring type
Tile
Building materials
Vinyl Siding
Listing Agency:
The Agency Austin
(512) 607-5113
Listed By:
Myra Garcia · License #719556
(956) 606-4688
Added: Sep 22
Last Checked: Sep 22 at 11:06PM
MLS# 106814
Copyright © 2026 South Padre Island 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.
Investment Insights
Based on property information with market context.
This residential income property combines three contiguous duplexes into a six-unit portfolio totaling 5,880 square feet on 0.84 acres. Built in 2003, the buildings are 100% occupied and provide consistent two-bedroom, two-bath layouts. Individual units include tile flooring, elevated ceilings, ceiling fans, walk-in closets, washer/dryer hookups, and kitchens equipped with ovens, refrigerators, and stoves.
Each duplex includes private fenced outdoor space with patios, while assigned parking supports resident use. The properties are located on Midlane Dr in Harlingen, with access to I-2 and I-69E. Multi-family zoning is identified for the site, and the three addresses are 1801, 1805, and 1809 Midlane Dr.
Each duplex includes private fenced outdoor space with patios, while assigned parking supports resident use. The properties are located on Midlane Dr in Harlingen, with access to I-2 and I-69E. Multi-family zoning is identified for the site, and the three addresses are 1801, 1805, and 1809 Midlane Dr.
Key Highlights
- Three contiguous duplexes totaling 6 units
- 5,880 square feet on 0.84 acres
- 100% occupied with two‑bedroom, two‑bath unit layouts
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,511
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$970,220
$970.2K
Cap Rate 7%
$693,014
$693.0K
Cap Rate 9%
$539,011
$539.0K
Market Conditions
NOI Build-Up for 5,880 SF
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.
Gross rent
$74.1K $12.60/SF
− Vacancy
−$4.8K −$0.81/SF
EGI
$69.3K $11.79/SF
− OpEx
−$20.8K −$3.54/SF
NOI
$48.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$970,220
Cap Rate 7%
$693,014
Cap Rate 9%
$539,011
Alternative Uses
Best Use
Multifamily LT 5
$693.0K
$606.4K – $808.5K
NOI $48,511 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$635.5K
$556.1K – $741.5K
NOI $44,488 @ 7.0% cap · market cap 5.47%
Theoretical Best
Healthcare Medical
$1.01M
$885.9K – $1.18M
NOI $70,870 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
Explore this area
Business Placement
Demographics for 78552, TX
38,474
Population
16,009
Households
2.4
Avg Household Size
37
Median Age
22%
College-Educated
81%
High-School Grad
48.0 sq mi
ZIP Area
802
Density / Sq Mi
$67,183
Median Household Income
$34,571
Median Earnings
$1,054
Median Rent
$154,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Three adjoining properties offer fully leased residential units with private backyards and assigned parking.
Where is this duplex located?
The property is located at 1801 Midlane Dr Harlingen, TX.
What is the asking price?
The asking price for this property is $813,000.
What are key features of this property?
This property features: Three contiguous duplexes totaling 6 units; 5,880 square feet on 0.84 acres; 100% occupied with two‑bedroom, two‑bath unit layouts
