2429 Summit Road La Feria, TX 78559
Duplexes
- Added:
- Oct 3, 2024
- Days on Market:
- 650
- Last Refresh:
- May 12 at 10:16 pm
Property Features for 2429 Summit Road
General Information
- Standard status
- Active
- Size
- 1,930 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2024
Listing office CANTWELL & COMPANY REAL ESTATE
Listing date Oct 3, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of CANTWELL & COMPANY REAL ESTATE
Investment Insights
Based on property information with market context.
Key Highlights
- Fully Leased: Immediate rental income stream.
- Brand New Construction (2024): Enjoy modern design and minimal maintenance.
- Two Units, Each with 2 Beds/2 Baths: Ideal for tenants or owner occupancy with rental income.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.3k | $12.60 |
| − Vacancy | −$1.6k | −$0.81 |
| EGI | $22.7k | $11.79 |
| − OpEx | −$6.8k | −$3.54 |
| NOI | $15.9k | $8.25 |
