Building Details

Year Built 1930

Listing Agency: LEGACY REALTY GROUP RGV

Listed By: BERTHA DE LA ROSA · License #0531000 Show Phone

Source: Accessrealtyrgv

Added: Aug 30 Changed: Oct 10 Last Checked: Oct 7 at 5:47PM

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Investment Insights

Based on property information with market context.

This duplex in Harlingen, Texas, contains two residential units within approximately 2,048 square feet. Constructed in 1930, the property is fully occupied and currently functions as an income-producing residential asset. Its two-unit configuration also supports an owner-occupant arrangement with one residence retained for rental use, as described in the property information.

The property is positioned near downtown Harlingen, shopping, dining, schools, medical facilities, and major roadways. Additional nearby destinations include local parks, the Harlingen Arts & Heritage Museum, Valley International Airport, and the city’s retail and business districts. The surrounding neighborhood is established, with access to a range of daily services and community amenities.

Key Highlights

• Two residential units within approximately 2,048 square feet
• Fully occupied income‑producing duplex
• Constructed in 1930

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,495

Cap Rate

8.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$309,900 $309.9K

Cap Rate 7%

$221,357 $221.4K

Cap Rate 9%

$172,167 $172.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,048 SF

Gross rent

$30.2K $14.76/SF

− Vacancy

−$2.1K −$1.00/SF

EGI

$28.2K $13.76/SF

− OpEx

−$12.7K −$6.19/SF

NOI

$15.5K $7.57/SF

Area

Cameron County, TX

Vacancy

6.80%

Lease Rate

$14.76 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$309,900

Cap Rate 7%

$221,357

Cap Rate 9%

$172,167

Alternative Uses

Best Use

Multifamily LT 5

$241.4K

$211.2K – $281.6K (±1% cap)

NOI $16,896 @ 7.0% cap · market cap 9.44%

Second Best

Apartment 5plus

$221.4K

$193.7K – $258.3K (±1% cap)

NOI $15,495 @ 7.0% cap · market cap 8.66%

Theoretical Best

Healthcare Medical

$352.6K

$308.6K – $411.4K (±1% cap)

NOI $24,684 @ 7.0% cap · market cap 13.79%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Storage Facility Locksmith Catering Service Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,670

Businesses Nearby

Explore this area Business Placement

Demographics for 78550, TX

56,038

Population

22,347

Households

2.5

Avg Household Size

35

Median Age

22%

College-Educated

77%

High-School Grad

94.2 sq mi

ZIP Area

595

Density / Sq Mi

$51,524

Median Household Income

$32,065

Median Earnings

$863

Median Rent

$120,500

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - The property contains two occupied residential units in Harlingen, Texas.

Where is this duplex located?

The property is located at 418 E Madison Ave Harlingen, TX.

What is the asking price?

The asking price for this property is $179,000.

What are key features of this property?

This property features: Two residential units within approximately 2,048 square feet; Fully occupied income‑producing duplex; Constructed in 1930