Duplex with Open-Concept
For Sale
$315,000
602 W Davis St, Harlingen, TX 78550
Two-bedroom, two-bath duplex with a spacious interior arrangement and a large yard.
Property Size1,944 SF
Price / SF$162.04
Days on Market39
Property Features for 602 W Davis St
General Information
Standard status
Active
Size
1,944 SF
Property subtype
Multi-Family
Amenities
large yard
Building Details
Year Built
2006
Listing Agency:
EZ Realty & Property Mgt, LLC
(956) 200-5892
Listed By:
Esmeralda Zuniga
Source:
Accessrealtyrgv
Added: Jul 25
Changed: Aug 29
Last Checked: Aug 31 at 7:36PM
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 EZ Realty & Property Mgt, LLC
Investment Insights
Based on property information with market context.
Located at 602 W Davis St in Harlingen, Texas, this duplex contains 1,944 square feet and was built in 2006. The property is described with an open-concept interior and two bedrooms and two bathrooms. A large yard provides additional outdoor space for gatherings and general use. The duplex format offers two residential units within one property, with the available information emphasizing the units’ condition and roominess.
Key Highlights
- 1,944‑square‑foot duplex in Harlingen, TX
- Built in 2006
- Two bedrooms and two bathrooms
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
$16,038
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
5.09%
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%
$320,760
$320.8K
Cap Rate 7%
$229,114
$229.1K
Cap Rate 9%
$178,200
$178.2K
Market Conditions
NOI Build-Up for 1,944 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
$24.5K $12.60/SF
− Vacancy
−$1.6K −$0.81/SF
EGI
$22.9K $11.79/SF
− OpEx
−$6.9K −$3.54/SF
NOI
$16.0K $8.25/SF
Area
Cameron County, TX
Vacancy
6.46%
Lease Rate
$12.60 /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%
$320,760
Cap Rate 7%
$229,114
Cap Rate 9%
$178,200
Alternative Uses
Best Use
Multifamily LT 5
$229.1K
$200.5K – $267.3K
NOI $16,038 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$210.1K
$183.9K – $245.1K
NOI $14,708 @ 7.0% cap · market cap 4.67%
Theoretical Best
Healthcare Medical
$334.7K
$292.9K – $390.5K
NOI $23,431 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
302
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom, two-bath duplex with a spacious interior arrangement and a large yard.
Where is this duplex located?
The property is located at 602 W Davis St Harlingen, TX.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,944‑square‑foot duplex in Harlingen, TX; Built in 2006; Two bedrooms and two bathrooms
