Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    San Angelo, Texas Rental Portfolio Title is generated by Realmo AI

    1968 Colorado Avenue, San Angelo, TX 76901

    View on Map
    Claim this Listing
    Picture of Single family properties at 1968 Colorado Avenue, San Angelo, TX
    For Sale
    $578,770

    MULTI_FAMILY - San Angelo, TX

    Property size:
    840 SF
    Lot size:
    0.13 Acres
    Price / SF:
    $689/SF
    Added:
    May 22, 2026
    Days on Market:
    15
    Last Refresh:
    Jun 5 at 7:06 pm

    Property Features for 1968 Colorado Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    13
    Rooms
    Bedroom 4, Bedroom 9, Bedroom 2, Bedroom 11, Bedroom 1, Bedroom 7, Bedroom 5, Bedroom 12, Bedroom 13, Bedroom 3, Bedroom 10, Bedroom 8, Bedroom 6
    Standard status
    Active
    APN
    19-34600-0003-015-00
    Size
    840 SF
    Lot size
    0.13 Acres

    Taxes and HOA fees

    Tax Description
    Acres: 0.130 Blk: 3 Subd: Miller V E Of Garrett Adn East 1/2 Of Lots 13 & 14

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1959
    Number of units
    5

    We can help!

    Listing Contact
    Jeffrey Hameister

    Listing agent Jeffrey Hameister License #0594810

    Listing office ERA Newlin & Company 1722 W Ave N, SAN ANGELO, TX

    Listing date May 22, 2026

    MLS# 200979 Listing URL

    Copyright © 2026 San Angelo 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.

    HighLights

    • Investment portfolio in San Angelo, Texas featuring five income‑producing single‑family homes with established rental history
    • Five single‑family homes included in the package with established rental history and strong occupancy demand
    • Public utilities: water available with public water and public sewer
    • Homes include 13 bedrooms total across the portfolio (Bedroom 1 through Bedroom 13)

    Overview

    This residential investment portfolio in San Angelo, Texas, features five income-producing single-family homes. The properties have established rental history and strong occupancy demand. This package offers the opportunity to acquire stabilized assets with immediate income, while benefiting from long-term appreciation in one of West Texas's most resilient rental markets. The properties are located in San Angelo, Texas. The lot size is 0.13 acres. The property size is 840 square feet.

    Local Financial Insights For Apartment 5plus

    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 $85.7k $102.00
    − Vacancy −$10.3k −$12.24
    EGI $75.4k $89.76
    − OpEx −$33.9k −$40.39
    NOI $41.5k $49.37
    840 SF · lease $102.00/SF/yr · vacancy 12.00% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $592.4K
    $518.4K – $691.2K (±1% cap)
    NOI $41,469 @ 7.0% cap · market cap 7.17%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Multifamily LT 5
    $643.0K
    $562.7K – $750.2K (±1% cap)
    NOI $45,012 @ 7.0% cap · market cap 7.78%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    San Angelo
    County
    Tom Green
    State
    Texas
    Longitude
    -100.461653
    Latitude
    31.451557

    Nearby Similar for Sale

    • $900,000
      5,600 SF

      Renovated Downtown Office Building

      Renovated office building with large storefront windows, second-level balcony, and alley-access parking for flexible commercial use.
      19 W Beauregard Avenue, San Angelo, TX 76903
      View Details
    • $745,000
      3,453 SF

      Turnkey Restaurant with Commercial Kitchen

      Fully furnished restaurant with seating for up to 50 and a commercial-grade kitchen, plus 29+ parking spaces.
      3029 Sherwood Way, San Angelo, TX 76901
      View Details
    • $1,358,063
      1,080 SF

      High-Visibility Commercial Corner Lot

      Prime commercial opportunity in a high-traffic location.
      570 Smith Boulevard, San Angelo, TX 76905
      View Details
    • $519,000
      4,836 SF

      Flex Office and Warehouse Property

      Flex setup with offices, two warehouses, and gated access for businesses needing light operations and customer-facing space.
      2122 N Chadbourne Street, San Angelo, TX 76903
      View Details
    • $1,250,000
      14,580 SF

      Retail Shopping Center Building

      Flexible, ADA-compliant retail building with individual exterior access and shared interior space near Pecos and Beauregard.
      20 Howard Street, San Angelo, TX 76901
      View Details
    • $1,500,000
      18,383 SF

      Downtown San Angelo Commercial Opportunity

      Two-story commercial building with parking in downtown San Angelo, TX.
      25 S Chadbourne Street, San Angelo, TX 76903
      View Details
    • $500,000
      4,600 SF

      Renovated Office Building

      Extensively renovated office building suited for office, medical, retail, or service-based operations.
      2619 Sherwood Way, San Angelo, TX 76901
      View Details
    • $699,000
      5,456 SF

      Historic Building in Downtown San Angelo

      Commercial property in prime downtown location with high traffic.
      303 N Chadbourne Street, San Angelo, TX 76903
      View Details
    • $750,000
      2,275 SF

      ADA-Compliant Medical Office Building

      ADA-compliant office with a large waiting area, reception, three offices, and storage/utility room for medical or professional use.
      2418 N Bryant Boulevard, San Angelo, TX 76903
      View Details
    • $1,200,000
      10,788 SF

      Corner Warehouse Investment

      Currently fully leased corner warehouse suited for buyers seeking a turnkey industrial property.
      4020 Sul Ross Street, San Angelo, TX 76904
      View Details
    • $550,000
      616 SF

      San Angelo Commercial Corner Lot

      High-visibility corner lot ideal for various business ventures.
      1506 N Bryant Boulevard, San Angelo, TX 76903
      View Details
    • $999,999
      9,750 SF

      Downtown Mixed-Use Industrial Building

      Historic downtown building offers office, retail display windows, apartments, and a working cabinet shop with bay doors.
      315 N Chadbourne Street, San Angelo, TX 76903
      View Details

    FAQs

    What type of property is this?
    Single family property - Cash-flowing residential investment portfolio in San Angelo, Texas.
    Where is this single family property located?
    The property is located at 1968 Colorado Avenue San Angelo, TX.
    What is the asking price?
    The asking price for this property is $578,770.
    What are key features of this property?
    This property features: Investment portfolio in San Angelo, Texas featuring five income‑producing single‑family homes with established rental history; Five single‑family homes included in the package with established rental history and strong occupancy demand; Public utilities: water available with public water and public sewer
    (325) 374-1737
    We can help!
    Listing Contact
    Jeffrey Hameister
    Real Estate License ID: 0594810
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1968 Colorado Avenue, San Angelo, TX 76901
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!