Rockport Multifamily Investment
For Sale
$1,700,000
609 W Liberty Street, Rockport, TX 78382
Ten rental units in the heart of Rockport, Texas.
Property Size6,950 SF
Price / SF$244.60
Days on Market136
Property Features for 609 W Liberty Street
General Information
Standard status
Active
Size
6,950 SF
Property subtype
Multi-Family
Building Details
Year Built
1995
Listing Agency:
Lisa Whitehurse, Broker
(361) 461-1997
Listed By:
Lisa Whitehurse · License #0490326
(361) 461-1997
Source:
Xome
Added: Mar 18
Changed: Jul 10
Last Checked: May 29 at 1:30AM
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 Lisa Whitehurse, Broker
Investment Insights
Based on property information with market context.
Located in the heart of the Texas coastal community of Rockport, this property presents an investment opportunity with 10 rental units. The property includes a duplex featuring two 2-bedroom, 1-bath units with enclosed porches, four cottages currently operating as Airbnb rentals, and four separate cottages available for long-term rental. The total property size is 6,950 square feet. A new roof has been installed on the duplex. There is a small shed and two unfinished shipping containers on the property that could potentially be converted into two additional units.
Key Highlights
- 10 rental units (duplex, cottages) provide immediate income potential.
- Turnkey Airbnb operation with 4 cottage units ready for immediate rental income.
- Opportunity to add two more rental units from unfinished shed and shipping containers.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $118.4k | $17.04 |
| − Vacancy | −$14.9k | −$2.15 |
| EGI | $103.5k | $14.89 |
| − OpEx | −$46.6k | −$6.70 |
| NOI | $56.9k | $8.19 |
6,950 SF · lease $17.04/SF/yr · vacancy 12.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$813.3K
$711.6K – $948.8K
NOI $56,928 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.66M
$2.32M – $3.10M
NOI $185,977 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
Explore this area
Business Placement
Demographics for 78382, TX
19,432
Population
13,048
Households
1.5
Avg Household Size
53
Median Age
30%
College-Educated
92%
High-School Grad
79.9 sq mi
ZIP Area
243
Density / Sq Mi
$63,434
Median Household Income
$38,741
Median Earnings
$1,147
Median Rent
$238,200
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?
Apartment building - Ten rental units in the heart of Rockport, Texas.
Where is this apartment building located?
The property is located at 609 W Liberty Street Rockport, TX.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 10 rental units (duplex, cottages) provide immediate income potential.; Turnkey Airbnb operation with **4 cottage units ready for immediate rental income**.; Opportunity to add two more rental units from unfinished shed and shipping containers.
