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 Market51
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
(956) 423-5300
Listed By:
Marcus Phipps · License #450735
(956) 423-5300
Source:
Exprealty
Added: Jul 3
Changed: Aug 20
Last Checked: Aug 21 at 11:40AM
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 = 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
$14,949
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
4.60%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
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 - 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
