Remodeled Duplex with Two
For Sale
$239,900
1408 SW 12th Avenue, Amarillo, TX 79102
MultiFamily, Amarillo, TX
Property Size1,770 SF
Lot Size0.04 Acres
Price / SF$135.54
Days on Market257
Property Features for 1408 SW 12th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
0100 - NW Amarillo in City Limits
Bedrooms
4
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 4
Appliances
Dishwasher
Directions
Between Washington and Georgia, go down 11th turn on Lipscomb to 12th, turn right
Subdivision
0101 - Bivins
Standard status
Active
APN
188665
Size
1,770 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Description
UNIVERSITY HEIGHTS LOTBLOCK 0020 43 AND 44
Legal Description
UNIVERSITY HEIGHTS LOTBLOCK 0020 43 AND 44
Utilities
Cooling system
Central Air
Building Details
Year built
1964
Number of units
2
Building materials
Siding, Frame
Roof type
Built-Up, Composition
Listing Agency:
Amarillo's Parkview Realty, LLC
(806) 352-5300
Listed By:
John Broadfoot Jr., L.L.C. · License #0467266
(806) 584-2397
Added: Jan 13
Changed: Sep 13
Last Checked: Sep 27 at 6:06AM
MLS# 26-132
Copyright © 2026 Amarillo 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.
This duplex contains two separate residences totaling 1,770 square feet on a 0.04-acre lot. The front home includes three bedrooms, two full bathrooms, one-car parking, siding, central heat and air, updated flooring, fresh paint, kitchen cabinetry, water service, sewer service, and a water heater. The rear residence is a one-bedroom, all-electric home with siding, refreshed kitchen cabinets, new driveway, water lines, and sewer service.
Each residence has separately metered utilities, and both homes are currently rented. The property was built in 1964 and is located at 1408 SW 12th Avenue in Amarillo’s Bivins area. Construction is frame with siding, and roofing includes built-up and composition materials.
Each residence has separately metered utilities, and both homes are currently rented. The property was built in 1964 and is located at 1408 SW 12th Avenue in Amarillo’s Bivins area. Construction is frame with siding, and roofing includes built-up and composition materials.
Key Highlights
- Two residences totaling 1,770 square feet on a 0.04‑acre lot
- Front home has 3 bedrooms, 2 full bathrooms, and one‑car parking
- Rear residence provides 1 bedroom and all‑electric service
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
$13,348
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
5.56%
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%
$266,960
$267.0K
Cap Rate 7%
$190,686
$190.7K
Cap Rate 9%
$148,311
$148.3K
Market Conditions
NOI Build-Up for 1,770 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
$20.2K $11.40/SF
− Vacancy
−$1.1K −$0.63/SF
EGI
$19.1K $10.77/SF
− OpEx
−$5.7K −$3.23/SF
NOI
$13.3K $7.54/SF
Area
Amarillo, TX
Vacancy
5.50%
Lease Rate
$11.40 /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%
$266,960
Cap Rate 7%
$190,686
Cap Rate 9%
$148,311
Alternative Uses
Best Use
Multifamily LT 5
$190.7K
$166.9K – $222.5K
NOI $13,348 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$167.7K
$146.7K – $195.7K
NOI $11,739 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$395.2K
$345.8K – $461.1K
NOI $27,663 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
916
Businesses Nearby
Explore this area
Business Placement
Demographics for 79102, TX
9,252
Population
4,695
Households
2
Avg Household Size
35
Median Age
20%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
3,427
Density / Sq Mi
$48,551
Median Household Income
$34,911
Median Earnings
$891
Median Rent
$146,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer updated interiors, individual utilities, and existing occupancy.
Where is this duplex located?
The property is located at 1408 SW 12th Avenue Amarillo, TX.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two residences totaling 1,770 square feet on a 0.04‑acre lot; Front home has 3 bedrooms, 2 full bathrooms, and one‑car parking; Rear residence provides 1 bedroom and all‑electric service
