Two-Unit Duplex with
New
For Sale
$360,000
935 S Verne St., Rockport, TX 78382
Residential Income, ROCKPORT, TX
Property Size2,140 SF
Lot Size0.17 Acres
Price / SF$168.22
Days on Market3
Property Features for 935 S Verne St.
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-3
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 2
Parking features
Garage
Subdivision
Doughty&Mathis
Lot features
Inside Lot
Elementary school district
Rockport-Fulton ISD
Middle school district
Rockport-Fulton ISD
High school district
Rockport-Fulton ISD
Standard status
Active
Size
2,140 SF
Lot size
0.17 Acres
Building Details
Floors in Building
1
Number of units
2
Building materials
Brick Veneer, Frame, Slab Foundation
Roof type
Composition
Listing Agency:
RE/MAX SECURITY R. E. · RE/MAX International
(361) 729-2256
Listed By:
JENNIFER HEDDLESTEN · License #646329
(979) 236-7619
Added: Aug 28
Last Checked: Aug 30 at 2:06AM
MLS# 155936
Copyright © 2026 Rockport Area 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 935 S Verne St. in Rockport, this duplex contains 2,140 square feet on a 0.1722-acre lot. The two units each include two bedrooms, two bathrooms, an attached garage, and a fenced yard. Interior features include tile flooring, vaulted ceilings, ceiling fans, neutral paint, granite kitchen countertops, and stainless steel appliances. Washer and dryer connections are located in the garages.
The property is zoned R-3 and includes brick veneer and frame construction over a slab foundation, with composition roofing. The available duplex inventory totals 14 properties, creating the option to acquire a single asset or multiple duplexes. The reported occupancy rate is 97%.
The property is zoned R-3 and includes brick veneer and frame construction over a slab foundation, with composition roofing. The available duplex inventory totals 14 properties, creating the option to acquire a single asset or multiple duplexes. The reported occupancy rate is 97%.
Key Highlights
- 2,140 square feet on a 0.1722‑acre lot
- Two units, each with 2 bdrm and 2 bath
- Each unit includes an attached garage and fenced yard
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
$19,780
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
5.49%
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%
$395,600
$395.6K
Cap Rate 7%
$282,571
$282.6K
Cap Rate 9%
$219,778
$219.8K
Market Conditions
NOI Build-Up for 2,140 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
$32.1K $15.00/SF
− Vacancy
−$3.8K −$1.80/SF
EGI
$28.3K $13.20/SF
− OpEx
−$8.5K −$3.96/SF
NOI
$19.8K $9.24/SF
Area
Aransas County, TX
Vacancy
11.97%
Lease Rate
$15.00 /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%
$395,600
Cap Rate 7%
$282,571
Cap Rate 9%
$219,778
Alternative Uses
Best Use
Multifamily LT 5
$282.6K
$247.3K – $329.7K
NOI $19,780 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$250.4K
$219.1K – $292.2K
NOI $17,529 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$818.1K
$715.8K – $954.4K
NOI $57,265 @ 7.0% cap · market cap 15.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28
Residential units
97%
Occupancy
Location Intelligence
Trade Area within ½ mile
175
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R-3-zoned residential income property with two-bedroom floor plans, fenced yards, and attached garages.
Where is this duplex located?
The property is located at 935 S Verne St. Rockport, TX.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 2,140 square feet on a 0.1722‑acre lot; Two units, each with 2 bdrm and 2 bath; Each unit includes an attached garage and fenced yard
