Duplex on Texas A&M Bus
For Sale
$375,000
1223 April Bloom, College Station, TX 77840
Multi-Family, College Station, TX
Property Size2,282 SF
Lot Size0.16 Acres
Price / SF$164.33
Days on Market126
Property Features for 1223 April Bloom
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
C03
Parking
6
Subdivision
University Park
Elementary school district
College Station
Middle school district
College Station
High school district
College Station
Directions
Hwy 6 to University Dr, Right on spring loop, Right on April bloom, duplex is on the right.
Standard status
Active
APN
1223 April Bloom C03
Size
2,282 SF
Lot size
0.16 Acres
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
1981
Floors in Building
1
Number of units
2
Flooring type
Carpet
Roof type
Composition, Shingle
Listing Agency:
BHHS Caliber Realty · Berkshire Hathaway HomeServices
(979) 694-8844
Listed By:
Ryan Derkowski · License #0611546
(979) 268-3522
Added: May 4
Changed: Sep 3
Last Checked: Sep 6 at 12:06AM
MLS# 26005266
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.
Investment Insights
Based on property information with market context.
This 2,282-square-foot duplex contains two units, each configured with 3 bedrooms and 2 full bathrooms. Interior features include open living rooms, dining areas, kitchens, and carpeted floors. Electric central heating and central air conditioning serve the property. Constructed in 1981, the building has a shingle composition roof that was replaced within the last year.
The property is located at 1223 April Bloom in College Station and sits on 0.1607 acres. Its position on the Texas A&M bus route provides direct transit access to campus. Both units are leased, with lease terms extending to May and June 2027. The property is zoned C03.
The property is located at 1223 April Bloom in College Station and sits on 0.1607 acres. Its position on the Texas A&M bus route provides direct transit access to campus. Both units are leased, with lease terms extending to May and June 2027. The property is zoned C03.
Key Highlights
- Two‑unit duplex totaling 2,282 square feet
- Each unit includes 3 bedrooms and 2 full bathrooms
- Leases extend through May and June 2027
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
$24,532
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
6.54%
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%
$490,640
$490.6K
Cap Rate 7%
$350,457
$350.5K
Cap Rate 9%
$272,578
$272.6K
Market Conditions
NOI Build-Up for 2,282 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
$37.0K $16.20/SF
− Vacancy
−$1.9K −$0.84/SF
EGI
$35.0K $15.36/SF
− OpEx
−$10.5K −$4.61/SF
NOI
$24.5K $10.75/SF
Area
College Station, TX
Vacancy
5.20%
Lease Rate
$16.20 /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%
$490,640
Cap Rate 7%
$350,457
Cap Rate 9%
$272,578
Alternative Uses
Best Use
Multifamily LT 5
$350.5K
$306.7K – $408.9K
NOI $24,532 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$312.7K
$273.6K – $364.9K
NOI $21,891 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$561.9K
$491.7K – $655.6K
NOI $39,334 @ 7.0% cap · market cap 10.49%
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
810
Businesses Nearby
Explore this area
Business Placement
Demographics for 77840, TX
55,180
Population
25,423
Households
2.2
Avg Household Size
25
Median Age
46%
College-Educated
91%
High-School Grad
10.0 sq mi
ZIP Area
5,518
Density / Sq Mi
$31,278
Median Household Income
$14,521
Median Earnings
$1,085
Median Rent
$241,000
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 - Two leased units offer open living areas, dining space, kitchens, and bedrooms, with campus bus-route access.
Where is this duplex located?
The property is located at 1223 April Bloom College Station, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,282 square feet; Each unit includes 3 bedrooms and 2 full bathrooms; Leases extend through May and June 2027
