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    1012 E 23Rd St Bryan, TX 77803

    View on Map
    Sponsored
    For Sale
    $493,000

    MULTI_FAMILY - Bryan, TX

    Property size:
    5,568 SF
    Lot size:
    0.25 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 17 at 9:06 am

    Property Features for 1012 E 23Rd St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    B17
    APN
    1012 & 1014 23rd B17
    Parking
    8
    Size
    5,568 SF
    Lot size
    0.25 Acres

    Utilities

    Heating system
    Natural Gas, Central
    Cooling system
    Ceiling Fan(s), Electric, Central Air

    Building Details

    Year built
    1935
    Floors in Building
    2
    Number of units
    5
    Flooring type
    Carpet, Wood, Vinyl, Laminate, Tile
    Roof type
    Composition, Shingle

    We can help!

    Listing Contact
    Vivian Zamora
    Vivian Zamora

    Town & Country BCS Realty (979) 229-6000

    Listing agent Vivian Zamora (979) 220-2926

    Listing date Mar 16, 2026

    MLS# 26003047 Listing URL

    Copyright © 2026 Bryan-College Station Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Multifamily Investment Opportunity in Bryan, TX

    This multifamily package presents an investment opportunity in Bryan, TX, featuring a detached front house with over 1,600 square feet, three bedrooms, two bathrooms, a bonus room or office, original hardwood floors, washer and dryer connections, a fenced backyard, and all kitchen appliances. A notable feature is an oversized covered parking structure accommodating up to four vehicles. The fourplex, located to the rear of the property, comprises four one-bedroom, one-bathroom units with ample parking. Situated on a 0.248-acre lot in a residential North Bryan neighborhood, the property offers a small residential compound feel suitable for both investors and potential owner-users. The layout allows for affordable homeownership by living in one unit and renting the others to offset the mortgage. For investors, the property provides leased rental income with long-term upside in the Bryan, TX housing market. Ideally located near the Historic Downtown Bryan area, the property is close to shopping, restaurants, grocery stores, entertainment, and Sue Haswell Park. It is centrally located with easy access to Highway 6, Texas Ave, and William Joel Bryan Parkway. The property consists of 5,568 square feet and is zoned B17.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bryan
    County
    Brazos
    State
    Texas
    Longitude
    -96.362371
    Latitude
    30.674971

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    FAQs

    What type of property is this?
    Apartment building - Multifamily package near Historic Downtown Bryan with investment and owner-user potential.
    Where is this apartment building located?
    The property is located at 1012 E 23Rd St Bryan, TX.
    What is the asking price?
    The asking price for this property is $493,000.
    What are key features of this property?
    This property features: - Multifamily package: Detached house plus a fourplex offering immediate rental income.; - Oversized covered parking structure for 4 vehicles.; - Opportunity for owner-occupancy: Live in the detached house and rent out the fourplex units.
    (979) 220-2926
    Request Owner's contact information
    1012 E 23Rd St Bryan, TX 77803
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1012 E 23Rd St Bryan, TX 77803
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    We can help!
    Listing Contact
    Vivian Zamora
    Vivian Zamora
    Real Estate License ID: 0611190
    (979) 220-2926 (979) 229-6000
    Learn more
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