Duplex With Refrigerated
New
For Sale
$299,900
1929 DETROIT Avenue, El Paso, TX 79902
MULTI_FAMILY - El Paso, TX
Property Size1,800 SF
Lot Size0.50 Acres
Price / SF$166.61
Days on Market4
Property Features for 1929 DETROIT Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R5
Parking
3
Parking features
On Street
Appliances
Washer, Refrigerator, Dryer
Subdivision
Highland Park
Elementary school
Moreno
Middle school
Armendariz
High school
Austin
Elementary school district
El Paso
Middle school district
El Paso
High school district
El Paso
Standard status
Active
APN
H45399901801000
Size
1,800 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
18 HIGHLAND PARK 3 & 4 (6000 SQ FT)
Tax Annual Amount
5689
Legal Description
18 HIGHLAND PARK 3 & 4 (6000 SQ FT)
Utilities
Heating system
Central
Amenities
refrigerated air
washer and dryer
Building Details
Year built
1958
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Brick
Roof type
Flat, Shingle
Listing Agency:
Home Pros Real Estate Group
(915) 585-8806
Listed By:
Claudia Munoz-Waldvogel
(915) 691-1426
Added: Aug 8
Last Checked: Aug 11 at 8:06PM
MLS# 949068
Copyright © 2026 Greater El Paso 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.
Investment Insights
Based on property information with market context.
This 1,800-square-foot duplex contains two residences, each with 2 bedrooms and 1 full bathroom. Built in 1958, the property features brick construction, ceramic tile flooring, flat and shingle roofing, central heating, and refrigerated air. Appliances include a washer, dryer, and refrigerator. One residence also has city views from the living room and kitchen.
Situated at 1929 Detroit Avenue in El Paso, the property is near The Hospitals of Providence, UTEP, shopping, and dining. The 0.5-acre parcel is zoned R5 and includes on-street parking. The two-unit layout supports occupying one residence while leasing the other, or leasing both residences.
Situated at 1929 Detroit Avenue in El Paso, the property is near The Hospitals of Providence, UTEP, shopping, and dining. The 0.5-acre parcel is zoned R5 and includes on-street parking. The two-unit layout supports occupying one residence while leasing the other, or leasing both residences.
Key Highlights
- Two residences, each with 2 bedrooms and 1 full bathroom
- 1,800 square feet on a 0.5‑acre parcel
- Refrigerated air, central heating, washer, dryer, and refrigerator
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
$16,274
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
5.43%
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%
$325,480
$325.5K
Cap Rate 7%
$232,486
$232.5K
Cap Rate 9%
$180,822
$180.8K
Market Conditions
NOI Build-Up for 1,800 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
$24.4K $13.56/SF
− Vacancy
−$1.2K −$0.64/SF
EGI
$23.2K $12.92/SF
− OpEx
−$7.0K −$3.87/SF
NOI
$16.3K $9.04/SF
Area
El Paso, TX
Vacancy
4.75%
Lease Rate
$13.56 /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%
$325,480
Cap Rate 7%
$232,486
Cap Rate 9%
$180,822
Alternative Uses
Best Use
Multifamily LT 5
$232.5K
$203.4K – $271.2K
NOI $16,274 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$214.4K
$187.6K – $250.2K
NOI $15,010 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$451.6K
$395.1K – $526.8K
NOI $31,610 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,287
Businesses Nearby
Explore this area
Business Placement
Demographics for 79902, TX
20,071
Population
9,752
Households
2.1
Avg Household Size
38
Median Age
39%
College-Educated
81%
High-School Grad
6.5 sq mi
ZIP Area
3,088
Density / Sq Mi
$45,333
Median Household Income
$33,495
Median Earnings
$777
Median Rent
$223,300
Median Home Value
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 - Two residences offer flexible owner-occupant or rental use with central heating, laundry appliances, and ceramic tile flooring.
Where is this duplex located?
The property is located at 1929 DETROIT Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 full bathroom; 1,800 square feet on a 0.5‑acre parcel; Refrigerated air, central heating, washer, dryer, and refrigerator
