Fully Leased
For Sale
$325,000
605 W Cypress Ave, La Feria, TX 78559
2022-built income property with quartz countertops, pantries, and built-in closet storage.
Property Size1,812 SF
Price / SF$179.36
Days on Market103
Property Features for 605 W Cypress Ave
General Information
Standard status
Active
Size
1,812 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,222
Building Details
Year Built
2022
Buildings
1
Listing Agency:
Marcus Phipps Real Estate LLC
Listed By:
Marcus Phipps · License #450735
(956) 423-5300
Source:
Exprealty
Added: Jul 3
Changed: Oct 6
Last Checked: Oct 12 at 8:49PM
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.
Constructed in 2022, this 1812-square-foot duplex is fully leased and configured with an open floor plan and contemporary interior finishes. The kitchen includes quartz countertops, pendant lighting, and pantry storage. Each residence is described as a 2-bedroom, 2-bath layout, with large walk-in closets featuring built-ins. Spray foam insulation and prewiring for a security system add to the property’s physical specifications.
The duplex is located at 605 W Cypress Ave in La Feria, Texas, with access to the expressway within minutes. The property is situated in a residential neighborhood and is currently occupied. Because the units are leased, initial review is limited to drive-by observations, with showings subject to availability and the inspection period.
The duplex is located at 605 W Cypress Ave in La Feria, Texas, with access to the expressway within minutes. The property is situated in a residential neighborhood and is currently occupied. Because the units are leased, initial review is limited to drive-by observations, with showings subject to availability and the inspection period.
Key Highlights
- 1812‑square‑foot duplex built in 2022
- Fully leased property at 605 W Cypress Ave
- 2‑bedroom, 2‑bath layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,949
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$298,980
$299.0K
Cap Rate 7%
$213,557
$213.6K
Cap Rate 9%
$166,100
$166.1K
Market Conditions
NOI Build-Up for 1,812 SF
Gross rent
$22.8K $12.60/SF
− Vacancy
−$1.5K −$0.81/SF
EGI
$21.4K $11.79/SF
− OpEx
−$6.4K −$3.54/SF
NOI
$14.9K $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 Rate 5%
$298,980
Cap Rate 7%
$213,557
Cap Rate 9%
$166,100
Alternative Uses
Best Use
Multifamily LT 5
$213.6K
$186.9K – $249.2K
NOI $14,949 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$195.9K
$171.4K – $228.5K
NOI $13,710 @ 7.0% cap · market cap 4.22%
Theoretical Best
Healthcare Medical
$312.0K
$273.0K – $364.0K
NOI $21,840 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
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
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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 - 2022-built income property with quartz countertops, pantries, and built-in closet storage.
Where is this duplex located?
The property is located at 605 W Cypress Ave La Feria, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1812‑square‑foot duplex built in 2022; Fully leased property at 605 W Cypress Ave; 2‑bedroom, 2‑bath layout
