Triplex Investment
For Sale
$450,000
203 S 6th Street, Rockport, TX 78382
Residential, Rockport, TX
Property Size2,346 SF
Lot Size0.43 Acres
Price / SF$191.82
Days on Market37
Property Features for 203 S 6th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 5
Parking features
On Street, Off Street
Appliances
ElectricOven, ElectricRange
Subdivision
Fulton Oaks
Lot features
Corner Lot, Subdivided
Elementary school
Fulton
Middle school
RockportFulton
High school
RockportFulton
Elementary school district
Aransas County ISD
Middle school district
Aransas County ISD
High school district
Aransas County ISD
Standard status
Active
APN
2099007008000
Size
2,346 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Description
FULTON OAKS, BLOCK 7, LOT 8 - 10 (ADD'N IMPS)
Tax Annual Amount
5741
Legal Description
FULTON OAKS, BLOCK 7, LOT 8 - 10 (ADD'N IMPS)
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Flooring type
Laminate, Vinyl
Building materials
HardiplankType, WoodSiding
Roof type
Shingle
Listing Agency:
KM Premier Real Estate
(361) 991-5263
Listed By:
Nhieu Bo · License #0675720
(832) 840-9938
Added: Aug 28
Changed: Sep 30
Last Checked: Oct 3 at 2:06AM
MLS# 481634
Copyright © 2026 South Texas Multiple Listing Service, LLC. 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 2,346-square-foot triplex property on 0.4304 acres includes a duplex with separate one-bedroom/one-bath and two-bedroom/one-bath units, along with a detached two-bedroom home. A mobile home site adds another component to the property, and one mobile home conveys with the sale; a second mobile home is tenant-owned.
The property was built in 1950 and includes public water and public sewer, central heating and air conditioning, electric appliances, vinyl and laminate flooring, and a shingle roof. Parking is available both on and off the street. Several updates have been completed, while additional work remains before the units are rent-ready.
The property was built in 1950 and includes public water and public sewer, central heating and air conditioning, electric appliances, vinyl and laminate flooring, and a shingle roof. Parking is available both on and off the street. Several updates have been completed, while additional work remains before the units are rent-ready.
Key Highlights
- 2,346‑square‑foot multi‑unit property on 0.4304 acres
- Duplex includes 1‑bedroom/1‑bath and 2‑bedroom/1‑bath units
- Separate 2‑bedroom home included
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
$21,684
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
4.82%
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%
$433,680
$433.7K
Cap Rate 7%
$309,771
$309.8K
Cap Rate 9%
$240,933
$240.9K
Market Conditions
NOI Build-Up for 2,346 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
$35.2K $15.00/SF
− Vacancy
−$4.2K −$1.80/SF
EGI
$31.0K $13.20/SF
− OpEx
−$9.3K −$3.96/SF
NOI
$21.7K $9.24/SF
Area
Aransas County, TX
Vacancy
11.97%
Lease Rate
$15.00 /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%
$433,680
Cap Rate 7%
$309,771
Cap Rate 9%
$240,933
Alternative Uses
Best Use
Multifamily LT 5
$309.8K
$271.1K – $361.4K
NOI $21,684 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$274.5K
$240.2K – $320.3K
NOI $19,216 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$896.8K
$784.7K – $1.05M
NOI $62,777 @ 7.0% cap · market cap 13.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
Explore this area
Business Placement
Demographics for 78382, TX
19,432
Population
13,048
Households
1.5
Avg Household Size
53
Median Age
30%
College-Educated
92%
High-School Grad
79.9 sq mi
ZIP Area
243
Density / Sq Mi
$63,434
Median Household Income
$38,741
Median Earnings
$1,147
Median Rent
$238,200
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Multi-unit property with a duplex, separate two-bedroom home, and mobile home site.
Where is this triplex located?
The property is located at 203 S 6th Street Rockport, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,346‑square‑foot multi‑unit property on 0.4304 acres; Duplex includes 1‑bedroom/1‑bath and 2‑bedroom/1‑bath units; Separate 2‑bedroom home included
