Multifamily Property with
New
For Sale
$799,900
4107 Highway 35 S, Rockport, TX 78382
Residential, Rockport, TX
Property Size8,075 SF
Lot Size1.99 Acres
Price / SF$99.06
Days on Market1
Property Features for 4107 Highway 35 S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
11
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 6, Bathroom 8, Bathroom 3, Bedroom 7, Bathroom 7, Bathroom 5, Bedroom 10, Bedroom 6, Bedroom 8, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 5, Bedroom 11, Bedroom 9, Bedroom 3, Bathroom 4, Bedroom 1, Bedroom 2
Parking features
Carport
Interior features
HomeOffice, OpenFloorplan, SplitBedrooms, KitchenIsland
Fireplace
1
Appliances
Dishwasher, ElectricCooktop, ElectricOven, ElectricRange, FreeStandingRange, Disposal, RangeHood
Subdivision
Windswept Oaks #1
Lot features
Interior Lot
Elementary school
Live Oak
Middle school
RockportFulton
High school
RockportFulton
Elementary school district
RockportFultonISD
Middle school district
RockportFultonISD
High school district
RockportFultonISD
Directions
Please be sure you are entering SOUTH in your GPS 4107 Highway 35 S- Rockport Boat & RV storage is next door, and it is right across the street from Palm Harbor. If you are in front of the dollar store, you typed the address incorrectly.
Standard status
Active
APN
6470002002005
Size
8,075 SF
Lot size
1.99 Acres
Taxes and HOA fees
Tax Description
WINDSWEPT OAKS #1, BLOCK 2, LOT PT OF 2
Tax Annual Amount
10415
Legal Description
WINDSWEPT OAKS #1, BLOCK 2, LOT PT OF 2
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
2
Flooring type
Vinyl, Tile, Laminate
Building materials
Brick, HardiplankType, Stucco
Roof type
Shingle
Listing Agency:
South Coast Real Estate
(361) 452-3648
Listed By:
Andrea Gatlin · License #0668934
(361) 389-1313
Added: Sep 9
Last Checked: Sep 9 at 10:06PM
MLS# 482273
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 multifamily property includes a four-unit building with two 2-bedroom/2-bath residences, one 2-bedroom/1-bath residence, and a 1-bedroom/1-bath efficiency-style unit. The property also has a 1,964-square-foot house with three bedrooms, two bathrooms, and an office. A separate 3,750-square-foot duplex shell remains unfinished and is ready for construction. The improvements sit on 1.99 acres and include 2018 roofs, a maintained septic system, public water, central air, natural gas heating, and carport parking.
Located at 4107 Highway 35 S in Rockport, the property is across the street from Redfish Bay and Aransas Bay. Downtown Rockport, Bluewater Rockport Beach Park, public boat ramps, and fishing areas are minutes away. The rental units are currently 100% occupied.
Located at 4107 Highway 35 S in Rockport, the property is across the street from Redfish Bay and Aransas Bay. Downtown Rockport, Bluewater Rockport Beach Park, public boat ramps, and fishing areas are minutes away. The rental units are currently 100% occupied.
Key Highlights
- Four‑unit building with two 2‑bedroom/2‑bath units, one 2‑bedroom/1‑bath unit, and one 1‑bedroom/1‑bath efficiency unit
- 1,964‑square‑foot house with 3 bedrooms, 2 baths, and an office
- 3,750‑square‑foot unfinished duplex shell ready for construction
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
$66,143
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
8.27%
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%
$1,322,860
$1.3M
Cap Rate 7%
$944,900
$944.9K
Cap Rate 9%
$734,922
$734.9K
Market Conditions
NOI Build-Up for 8,075 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
$137.6K $17.04/SF
− Vacancy
−$17.3K −$2.15/SF
EGI
$120.3K $14.89/SF
− OpEx
−$54.1K −$6.70/SF
NOI
$66.1K $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%
$1,322,860
Cap Rate 7%
$944,900
Cap Rate 9%
$734,922
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$933.0K – $1.24M
NOI $74,638 @ 7.0% cap · market cap 9.33%
Second Best
Apartment 5plus
$944.9K
$826.8K – $1.10M
NOI $66,143 @ 7.0% cap · market cap 8.27%
Theoretical Best
Office A
$3.09M
$2.70M – $3.60M
NOI $216,081 @ 7.0% cap · market cap 27.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
81
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Income property combines occupied rental units, a separate house, and an unfinished duplex shell for additional buildout.
Where is this multifamily property located?
The property is located at 4107 Highway 35 S Rockport, TX.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Four‑unit building with two 2‑bedroom/2‑bath units, one 2‑bedroom/1‑bath unit, and one 1‑bedroom/1‑bath efficiency unit; 1,964‑square‑foot house with 3 bedrooms, 2 baths, and an office; 3,750‑square‑foot unfinished duplex shell ready for construction
