Two-Home Multifamily
For Sale
$694,000
2111 & 2121 Lone Star, Rockport, TX 78382
Residential Income, ROCKPORT, TX
Property Size2,940 SF
Lot Size2.00 Acres
Price / SF$236.05
Days on Market97
Property Features for 2111 & 2121 Lone Star
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RESIDENTIAL
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 3, Bathroom 4, Bedroom 1
Subdivision
Sugar Sands
Lot features
Dead End, Inside Lot
Elementary school district
RFISD
Middle school district
RFISD
High school district
RFISD
Standard status
Active
Size
2,940 SF
Lot size
2.00 Acres
Amenities
covered porches
covered front deck
rear deck
mature oak trees
Building Details
Floors in Building
1
Number of units
2
Building materials
Pier/Beam
Roof type
Composition
Listing Agency:
KELLER WILLIAMS COASTAL BEND ROCKPORT · Keller Williams Realty
(361) 790-9494
Listed By:
Brianna Myers · License #0744446
(936) 671-2671
Added: Jun 29
Changed: Sep 13
Last Checked: Oct 3 at 2:06AM
MLS# 155539
Copyright © 2026 Rockport Area 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 multifamily offering combines two side-by-side homes on approximately 2 acres in the Sugar Sands subdivision. Together, the residences provide six bedrooms and four bathrooms, with covered porches, open-concept living areas, granite countertops, and stainless steel appliances. One home was built in 2021 and includes vaulted ceilings, a kitchen island, white shaker cabinetry, recessed lighting, and a covered front deck. The other was built in 2018 and offers a breakfast bar, a primary suite with walk-in closet, mature oak trees, and a rear deck.
The properties are located at 2111 and 2121 Lone Star in Rockport, Texas. Both residences use well and septic systems, carry residential zoning, and have no HOA. The properties are identified as STR-eligible, subject to independent verification with the City of Rockport. A tenant is currently in place at one of the homes.
The properties are located at 2111 and 2121 Lone Star in Rockport, Texas. Both residences use well and septic systems, carry residential zoning, and have no HOA. The properties are identified as STR-eligible, subject to independent verification with the City of Rockport. A tenant is currently in place at one of the homes.
Key Highlights
- Two side‑by‑side homes on approximately 2 acres
- Six bedrooms and four bathrooms across the two residences
- One home built in 2021; the other built in 2018
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
$24,082
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
3.47%
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%
$481,640
$481.6K
Cap Rate 7%
$344,029
$344.0K
Cap Rate 9%
$267,578
$267.6K
Market Conditions
NOI Build-Up for 2,940 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
$50.1K $17.04/SF
− Vacancy
−$6.3K −$2.15/SF
EGI
$43.8K $14.89/SF
− OpEx
−$19.7K −$6.70/SF
NOI
$24.1K $8.19/SF
Area
Aransas County, TX
Vacancy
12.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
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%
$481,640
Cap Rate 7%
$344,029
Cap Rate 9%
$267,578
Alternative Uses
Best Use
Apartment 5plus
$344.0K
$301.0K – $401.4K
NOI $24,082 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$983.4K – $1.31M
NOI $78,672 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
40
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Side-by-side homes feature covered porches and open-concept interiors.
Where is this multifamily property located?
The property is located at 2111 & 2121 Lone Star Rockport, TX.
What is the asking price?
The asking price for this property is $694,000.
What are key features of this property?
This property features: Two side‑by‑side homes on approximately 2 acres; Six bedrooms and four bathrooms across the two residences; One home built in 2021; the other built in 2018
