Side-by-Side Duplex
For Sale
$590,000
605 & 609 W Cypress Ave, La Feria, TX 78559
Two side-by-side, fully leased 2-bedroom, 2-bath duplexes were built in 2022.
Property Size3,620 SF
Price / SF$162.98
Days on Market166
Property Features for 605 & 609 W Cypress Ave
General Information
Standard status
Active
Size
3,620 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,444
Building Details
Year Built
2022
Tenancy
Multi
Listing Agency:
Marcus Phipps Real Estate LLC
(956) 423-5300
Listed By:
Marcus Phipps · License #450735
(956) 423-5300
Source:
Exprealty
Added: Mar 11
Changed: Aug 23
Last Checked: Aug 21 at 9:32PM
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 Marcus Phipps Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 2022, this property consists of two must-see 2-bedroom, 2-bath duplexes positioned side by side. Both units feature an open floor plan and modern design. Interior highlights include quartz countertops with a pantry in the kitchen, along with large walk-in closets with built-ins. The property is wired for a security system and has spray foam insulation.
The duplexes are located in La Feria, Texas, and are only minutes from the expressway. As the units are fully occupied, drive-by viewing and offers in-hand are required before scheduling showings during the option period.
These duplexes can be sold individually for $325,000 or together for $625,000, and financials are available with NDA during the option period.
The duplexes are located in La Feria, Texas, and are only minutes from the expressway. As the units are fully occupied, drive-by viewing and offers in-hand are required before scheduling showings during the option period.
These duplexes can be sold individually for $325,000 or together for $625,000, and financials are available with NDA during the option period.
Key Highlights
- Two side‑by‑side, fully leased 2‑bedroom, 2‑bath duplexes built in 2022
- Open floor plan in each duplex with modern design
- Kitchen features quartz countertops, a pantry, and overhanging lamps
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
$29,866
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
5.06%
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%
$597,320
$597.3K
Cap Rate 7%
$426,657
$426.7K
Cap Rate 9%
$331,844
$331.8K
Market Conditions
NOI Build-Up for 3,620 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
$45.6K $12.60/SF
− Vacancy
−$2.9K −$0.81/SF
EGI
$42.7K $11.79/SF
− OpEx
−$12.8K −$3.54/SF
NOI
$29.9K $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%
$597,320
Cap Rate 7%
$426,657
Cap Rate 9%
$331,844
Alternative Uses
Best Use
Multifamily LT 5
$426.7K
$373.3K – $497.8K
NOI $29,866 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$391.3K
$342.4K – $456.5K
NOI $27,389 @ 7.0% cap · market cap 4.64%
Theoretical Best
Healthcare Medical
$623.3K
$545.4K – $727.2K
NOI $43,631 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
Explore this area
Business Placement
Demographics for 78559, TX
12,533
Population
5,047
Households
2.5
Avg Household Size
37
Median Age
14%
College-Educated
72%
High-School Grad
36.3 sq mi
ZIP Area
345
Density / Sq Mi
$48,117
Median Household Income
$31,927
Median Earnings
$985
Median Rent
$99,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two side-by-side, fully leased 2-bedroom, 2-bath duplexes were built in 2022.
Where is this duplex located?
The property is located at 605 & 609 W Cypress Ave La Feria, TX.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Two side‑by‑side, fully leased 2‑bedroom, 2‑bath duplexes built in 2022; Open floor plan in each duplex with modern design; Kitchen features quartz countertops, a pantry, and overhanging lamps
