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    Duplex Income Property Title is generated by Realmo AI

    1901 Cedar Crest Drive, Abilene, TX 79601

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    For Sale
    $297,000

    MULTI_FAMILY - Abilene, TX

    Property size:
    2,974 SF
    Lot size:
    0.25 Acres
    Price / SF:
    $99/SF
    Added:
    May 13, 2026
    Days on Market:
    23
    Last Refresh:
    Jun 4 at 7:06 am

    Property Features for 1901 Cedar Crest Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bedroom 6, Bathroom 3, Bedroom 5, Bathroom 4, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Parking
    2
    Parking features
    On Street
    Appliances
    GasWaterHeater
    Standard status
    Active
    APN
    53633
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Description
    ABILENE HEIGHTS, BLOCK 59, LOT 1
    Tax Annual Amount
    3974

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1956
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    WoodSiding
    Roof type
    Composition

    We can help!

    Listing Contact
    Robbie Johnson

    Listing agent Robbie Johnson License #B23811

    Listing office Epique Realty LLC Katy, TX

    Listing date May 13, 2026

    MLS# 21166995 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Income‑producing, fully occupied property with two separate, revenue‑generating units
    • Main residence: 4 bedrooms and 2 full bathrooms with original hardwood floors
    • Second independent unit: private entrance with 2 bedrooms, 2 full bathrooms, living area, and kitchen
    • Reported total square footage for both units: 2,974 SF (buyer to verify separate unit totals)
    • Large corner lot in Abilene, TX, minutes from Abilene Christian University
    • Built in 1956 with public water and public sewer; natural gas heating and composition roof

    Overview

    This fully occupied duplex is structured as two separate, income-generating units, designed to support long-term rental demand. The main residence features four bedrooms and two full bathrooms, with original hardwood floors and a spacious layout that can appeal to shared-housing or student-oriented tenants. The second home is connected yet fully independent, with its own private entrance, two bedrooms, two full bathrooms, a living area, and a kitchen, functioning as a self-contained unit.

    The property sits on a large corner lot, providing an additional layer of flexibility for future value. It is located in Abilene, Texas, just minutes from Abilene Christian University, a factor the current ownership highlights as a driver of consistent rental demand.

    For investors and buyers looking for an income-focused acquisition, the two-unit configuration supports diversification within a single property. With both units already producing rent, the duplex is positioned as a straightforward addition to an existing portfolio or as a starting point for building a repeatable rental strategy. The combination of independent entrances and two separate floorplans also offers practical appeal for tenants who prefer privacy while still benefiting from a residential setting.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $37.5k $12.60
    − Vacancy −$2.2k −$0.76
    EGI $35.2k $11.84
    − OpEx −$10.6k −$3.55
    NOI $24.7k $8.29
    2,974 SF · lease $12.60/SF/yr · vacancy 6.00% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $352.2K
    $308.2K – $411.0K (±1% cap)
    NOI $24,657 @ 7.0% cap · market cap 8.30%
    Second Best
    Apartment 5plus
    $325.9K
    $285.2K – $380.3K (±1% cap)
    NOI $22,815 @ 7.0% cap · market cap 7.68%
    Theoretical Best
    Office A
    $664.0K
    $581.0K – $774.7K (±1% cap)
    NOI $46,480 @ 7.0% cap · market cap 15.65%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Abilene
    County
    Taylor
    State
    Texas
    Longitude
    -99.717668
    Latitude
    32.469811

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    FAQs

    What type of property is this?
    Duplex - Fully occupied duplex with two independent units, offering steady rental income for investors seeking yield and tenant stability.
    Where is this duplex located?
    The property is located at 1901 Cedar Crest Drive Abilene, TX.
    What is the asking price?
    The asking price for this property is $297,000.
    What are key features of this property?
    This property features: Income‑producing, fully occupied property with two separate, revenue‑generating units; Main residence: 4 bedrooms and 2 full bathrooms with original hardwood floors; Second independent unit: private entrance with 2 bedrooms, 2 full bathrooms, living area, and kitchen
    (512) 387-0722
    We can help!
    Listing Contact
    Robbie Johnson
    Real Estate License ID: B23811
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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.

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