Two-Unit Duplex with Paved
For Sale
$175,000
737 Delhi Drive, Socorro, TX 79927
Residential Income, Socorro, TX
Property Size1,280 SF
Lot Size0.14 Acres
Price / SF$136.72
Days on Market113
Property Features for 737 Delhi Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
M2
Parking features
Paved or Surfaced
Subdivision
Delip
Elementary school
Hueco
Middle school
Salvador Sanchez
High school
Socorro
Elementary school district
Socorro
Middle school district
Socorro
High school district
Socorro
Standard status
Active
APN
D39700000500100
Size
1,280 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
5 DELIP LOT 10 (6000 SQ FT)
Tax Annual Amount
2481
Legal Description
5 DELIP LOT 10 (6000 SQ FT)
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s)
Building Details
Year built
1979
Number of units
2
Building materials
Stucco
Roof type
Composition, Shingle
Listing Agency:
Home Pros Real Estate Group
(915) 585-8806
Listed By:
Edwin Morales Juarez · License #0721112
(915) 449-9698
Added: May 16
Changed: Sep 4
Last Checked: Sep 5 at 1:06AM
MLS# 944105
Copyright © 2026 Greater El Paso Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 737 Delhi Drive in Socorro, this duplex contains two residences, each arranged with two bedrooms and one bathroom. The property provides 1280 square feet of building area on a 0.14-acre lot and was constructed in 1979.
The building features stucco construction, composition shingle roofing, wall-furnace heating, and window-unit cooling. Paved or surfaced parking is provided, and the property is connected to public sewer. M2 zoning is identified for the site, adding a defined land-use designation to the physical property details.
The building features stucco construction, composition shingle roofing, wall-furnace heating, and window-unit cooling. Paved or surfaced parking is provided, and the property is connected to public sewer. M2 zoning is identified for the site, adding a defined land-use designation to the physical property details.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit
- 1280 square feet of building area
- 0.14‑acre lot in Socorro
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
$10,614
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
6.07%
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%
$212,280
$212.3K
Cap Rate 7%
$151,629
$151.6K
Cap Rate 9%
$117,933
$117.9K
Market Conditions
NOI Build-Up for 1,280 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
$16.1K $12.60/SF
− Vacancy
−$964 −$0.75/SF
EGI
$15.2K $11.85/SF
− OpEx
−$4.5K −$3.55/SF
NOI
$10.6K $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%
$212,280
Cap Rate 7%
$151,629
Cap Rate 9%
$117,933
Alternative Uses
Best Use
Multifamily LT 5
$151.6K
$132.7K – $176.9K
NOI $10,614 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$139.1K
$121.7K – $162.3K
NOI $9,736 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$231.3K
$202.4K – $269.9K
NOI $16,193 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
147
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Socorro duplex with two-bedroom, one-bathroom layouts in each residence.
Where is this duplex located?
The property is located at 737 Delhi Drive Socorro, TX.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit; 1280 square feet of building area; 0.14‑acre lot in Socorro
