Brick Duplex with Covered
For Sale
$299,000
2429 MONTANA Avenue, El Paso, TX 79903
Residential Income, El Paso, TX
Property Size1,996 SF
Lot Size0.14 Acres
Price / SF$149.80
Days on Market99
Property Features for 2429 MONTANA Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
SD
Parking features
Covered, On Street
Appliances
Free-Standing Gas Oven
Subdivision
Bassett
Elementary school
Hillside
Middle school
Bassett
High school
Burges
Elementary school district
El Paso
Middle school district
El Paso
High school district
El Paso
Standard status
Active
APN
B20299909007100
Size
1,996 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
90 BASSETT 29 & 30 (6000 SQ FT)
Tax Annual Amount
5224
Legal Description
90 BASSETT 29 & 30 (6000 SQ FT)
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Central
Cooling system
Multi Units
Building Details
Year built
1910
Number of units
1
Building materials
Brick
Roof type
Composition, Flat
Listing Agency:
REAL Broker LLC
(855) 450-0442
Listed By:
Evan Ferris Karam · License #0609309
(915) 276-4827
Added: Jun 9
Changed: Sep 12
Last Checked: Sep 15 at 11:06AM
MLS# 945575
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 two-unit residential property contains 1,996 square feet on a 0.14-acre lot. The front residence is currently leased, while the rear unit provides four bedrooms and one bathroom for a buyer planning improvements. Brick construction, central and forced-air heating, multiple cooling units, a free-standing gas oven, and a combination composition and flat roof are among the existing features. Parking includes covered and on-street options.
The property is located at 2429 Montana Avenue in Central El Paso, along the Montana corridor. It is served by public sewer and carries SD zoning. Buyers should independently confirm zoning, occupancy requirements, permits, dimensions, and intended use with the City of El Paso.
The property is located at 2429 Montana Avenue in Central El Paso, along the Montana corridor. It is served by public sewer and carries SD zoning. Buyers should independently confirm zoning, occupancy requirements, permits, dimensions, and intended use with the City of El Paso.
Key Highlights
- Two‑unit duplex with 1,996 square feet of building area
- Rear residence includes 4 bedrooms and 1 bath
- 0.14‑acre lot in Central El Paso
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
$18,046
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
6.04%
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%
$360,920
$360.9K
Cap Rate 7%
$257,800
$257.8K
Cap Rate 9%
$200,511
$200.5K
Market Conditions
NOI Build-Up for 1,996 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
$27.1K $13.56/SF
− Vacancy
−$1.3K −$0.64/SF
EGI
$25.8K $12.92/SF
− OpEx
−$7.7K −$3.87/SF
NOI
$18.0K $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%
$360,920
Cap Rate 7%
$257,800
Cap Rate 9%
$200,511
Alternative Uses
Best Use
Multifamily LT 5
$257.8K
$225.6K – $300.8K
NOI $18,046 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$237.8K
$208.1K – $277.4K
NOI $16,645 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$500.8K
$438.2K – $584.2K
NOI $35,053 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,872
Businesses Nearby
Explore this area
Business Placement
Demographics for 79903, TX
16,425
Population
6,708
Households
2.4
Avg Household Size
44
Median Age
16%
College-Educated
74%
High-School Grad
3.0 sq mi
ZIP Area
5,475
Density / Sq Mi
$38,294
Median Household Income
$24,288
Median Earnings
$883
Median Rent
$118,300
Median Home Value
Check the figures for this property
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?
Duplex - Central El Paso property with one leased residence and a second four-bedroom unit suited for updates.
Where is this duplex located?
The property is located at 2429 MONTANA Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,996 square feet of building area; Rear residence includes 4 bedrooms and 1 bath; 0.14‑acre lot in Central El Paso
