For Sale
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2429 Summit Road, La Feria, TX 78559
Duplexes
Property Size1,930 SF
Price / SF$141.40
Days on Market741
Property Features for 2429 Summit Road
General Information
Standard status
Active
Size
1,930 SF
Property subtype
Multifamily
Building Details
Year Built
2024
Buildings
1
Units
2
Listing Agency:
CANTWELL & COMPANY REAL ESTATE
Listed By:
Benjamin Cantwell
Source:
Crexi
Added: Oct 3, 2024
Changed: Sep 12
Last Checked: Oct 12 at 5:51PM
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 CANTWELL & COMPANY REAL ESTATE
Investment Insights
Based on property information with market context.
Key Highlights
- Fully Leased: Immediate rental income stream.
- Brand New Construction (2024): Enjoy modern design and minimal maintenance.
- Two Units, Each with 2 Beds/2 Baths: Ideal for tenants or owner occupancy with rental income.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,923
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$318,460
$318.5K
Cap Rate 7%
$227,471
$227.5K
Cap Rate 9%
$176,922
$176.9K
Market Conditions
NOI Build-Up for 1,930 SF
Gross rent
$24.3K $12.60/SF
− Vacancy
−$1.6K −$0.81/SF
EGI
$22.7K $11.79/SF
− OpEx
−$6.8K −$3.54/SF
NOI
$15.9K $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%
$318,460
Cap Rate 7%
$227,471
Cap Rate 9%
$176,922
Alternative Uses
Best Use
Multifamily LT 5
$227.5K
$199.0K – $265.4K
NOI $15,923 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$208.6K
$182.5K – $243.4K
NOI $14,602 @ 7.0% cap · market cap 5.35%
Theoretical Best
Healthcare Medical
$332.3K
$290.8K – $387.7K
NOI $23,262 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
12
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this duplex located?
The property is located at 2429 Summit Road La Feria, TX.
What is the asking price?
The asking price for this property is $272,900.
What are key features of this property?
This property features: Fully Leased: Immediate rental income stream.; Brand New Construction (2024): Enjoy modern design and minimal maintenance.; Two Units, Each with 2 Beds/2 Baths: Ideal for tenants or owner occupancy with rental income.
