New Duplex with Corner
For Sale
$474,950
Pending
624 Hesse Drive, Socorro, TX 79927
Newly constructed duplex under construction with four bedrooms per unit, tile flooring, refrigerated air, and private backyards.
Property Size1,608 SF
Days on Market181
Property Features for 624 Hesse Drive
General Information
Standard status
Pending
Size
1,608 SF
Property subtype
Multi-Family / Duplex
Zoning
R1
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$461
Amenities
tile flooring
refrigerated air
one-car garage
private backyard
Yes
Refrigerator, Dishwasher, Cooktop
.00
Pitched, Shingle
Building Details
Year Built
2025
Listing Agency:
Home Pros Real Estate Group
Listed By:
Carlos Rey Torres · License #0827551
(915) 238-7721
Source:
Compass
Added: Mar 13
Changed: Aug 8
Last Checked: Jul 24 at 1:31PM
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 Home Pros Real Estate Group
Investment Insights
Based on property information with market context.
This brand-new duplex is currently under construction and scheduled for completion in January 2026. The property will include two units, with each unit featuring four bedrooms and 2.5 bathrooms, tile flooring throughout (no carpet), refrigerated air, and a one-car garage.
Set on a corner lot, both units will have private backyard areas. The duplex is located just minutes from Loop 375, offering convenient access to major destinations while remaining in a residential setting.
With its two-unit layout and modern residential finishes, this duplex is well suited for multi-family ownership or investor use.
Set on a corner lot, both units will have private backyard areas. The duplex is located just minutes from Loop 375, offering convenient access to major destinations while remaining in a residential setting.
With its two-unit layout and modern residential finishes, this duplex is well suited for multi-family ownership or investor use.
Key Highlights
- Brand‑new duplex under construction, scheduled for completion in January 2026
- Each unit offers 4 bedrooms and 2.5 bathrooms
- Tile flooring throughout (no carpet) in each unit
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
$13,334
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
2.81%
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%
$266,680
$266.7K
Cap Rate 7%
$190,486
$190.5K
Cap Rate 9%
$148,156
$148.2K
Market Conditions
NOI Build-Up for 1,608 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
$20.3K $12.60/SF
− Vacancy
−$1.2K −$0.75/SF
EGI
$19.0K $11.85/SF
− OpEx
−$5.7K −$3.55/SF
NOI
$13.3K $8.29/SF
Area
El Paso County, TX
Vacancy
5.98%
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%
$266,680
Cap Rate 7%
$190,486
Cap Rate 9%
$148,156
Alternative Uses
Best Use
Multifamily LT 5
$190.5K
$166.7K – $222.2K
NOI $13,334 @ 7.0% cap · market cap 2.81%
Second Best
Apartment 5plus
$174.7K
$152.9K – $203.9K
NOI $12,231 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$290.6K
$254.3K – $339.0K
NOI $20,342 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 79927, TX
40,290
Population
14,284
Households
2.8
Avg Household Size
35
Median Age
10%
College-Educated
70%
High-School Grad
27.4 sq mi
ZIP Area
1,470
Density / Sq Mi
$51,735
Median Household Income
$30,738
Median Earnings
$1,070
Median Rent
$125,300
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 - Newly constructed duplex under construction with four bedrooms per unit, tile flooring, refrigerated air, and private backyards.
Where is this duplex located?
The property is located at 624 Hesse Drive Socorro, TX.
What is the asking price?
The asking price for this property is $474,950.
What are key features of this property?
This property features: Brand‑new duplex under construction, scheduled for completion in January 2026; Each unit offers 4 bedrooms and 2.5 bathrooms; Tile flooring throughout (no carpet) in each unit
