Two-Unit Duplex
For Sale
$497,686
332 MILTON Road, El Paso, TX 79915
Residential Income, El Paso, TX
Property Size3,742 SF
Lot Size0.47 Acres
Price / SF$133
Days on Market15
Property Features for 332 MILTON Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Parking
4
Parking features
Paved or Surfaced
Appliances
Refrigerator, Free-Standing Gas Oven
Subdivision
North Loop Gardens
Elementary school
Northloop
Middle school
Rio Bravo
High school
Riverside
Elementary school district
Ysleta
Middle school district
Ysleta
High school district
Ysleta
Standard status
Active
APN
N44699900202500
Size
3,742 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2 NORTH LOOP GARDENS #2 LOT 9 (HOMESITE) (20399.15 SQ FT)
Tax Annual Amount
9534
Legal Description
2 NORTH LOOP GARDENS #2 LOT 9 (HOMESITE) (20399.15 SQ FT)
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Building Details
Year built
2013
Number of units
2
Flooring type
Tile
Building materials
Stucco
Roof type
Shingle
Listing Agency:
Keller Williams Realty
(915) 603-5293
Listed By:
Moises Nungaray · License #641880
(915) 342-8066
Added: Sep 18
Changed: Sep 28
Last Checked: Oct 2 at 3:06AM
MLS# 951418
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 duplex property contains two rental units within approximately 3,742 square feet of building area on a 0.47-acre lot. The improvements were built in 2013 with stucco construction, shingle roofing, tile flooring, forced-air heating, and public sewer service. Each unit is equipped with a refrigerator and free-standing gas oven, while paved or surfaced parking serves the property.
A large vacant yard area accompanies the units and may support additional development subject to R4 zoning, city approval, and applicable due diligence. An easement is also associated with the property and should be reviewed by prospective buyers. The building area is based on approved building plans and should be independently verified.
A large vacant yard area accompanies the units and may support additional development subject to R4 zoning, city approval, and applicable due diligence. An easement is also associated with the property and should be reviewed by prospective buyers. The building area is based on approved building plans and should be independently verified.
Key Highlights
- Two rental units on a 0.47‑acre lot
- Approximately 3,742 square feet of building area
- Built in 2013 with stucco construction and shingle roofing
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
$33,832
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
6.80%
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%
$676,640
$676.6K
Cap Rate 7%
$483,314
$483.3K
Cap Rate 9%
$375,911
$375.9K
Market Conditions
NOI Build-Up for 3,742 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
$50.7K $13.56/SF
− Vacancy
−$2.4K −$0.64/SF
EGI
$48.3K $12.92/SF
− OpEx
−$14.5K −$3.87/SF
NOI
$33.8K $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%
$676,640
Cap Rate 7%
$483,314
Cap Rate 9%
$375,911
Alternative Uses
Best Use
Multifamily LT 5
$483.3K
$422.9K – $563.9K
NOI $33,832 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$445.8K
$390.1K – $520.1K
NOI $31,205 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$938.8K
$821.4K – $1.10M
NOI $65,715 @ 7.0% cap · market cap 13.20%
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
552
Businesses Nearby
Explore this area
Business Placement
Demographics for 79915, TX
35,234
Population
14,139
Households
2.5
Avg Household Size
41
Median Age
13%
College-Educated
68%
High-School Grad
8.9 sq mi
ZIP Area
3,959
Density / Sq Mi
$35,938
Median Household Income
$25,400
Median Earnings
$808
Median Rent
$117,600
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two rental units with paved parking, tile flooring, and a sizable yard area for potential future expansion subject to approval.
Where is this duplex located?
The property is located at 332 MILTON Road El Paso, TX.
What is the asking price?
The asking price for this property is $497,686.
What are key features of this property?
This property features: Two rental units on a 0.47‑acre lot; Approximately 3,742 square feet of building area; Built in 2013 with stucco construction and shingle roofing
