2-Unit Multifamily
New
For Sale
$220,000
2019 Elizabeth, Texarkana, TX 75501
Residential Income, Texarkana, TX
Property Size1,440 SF
Lot Size0.38 Acres
Price / SF$152.78
Days on Market1
Property Features for 2019 Elizabeth
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 6
Parking features
On Street
Appliances
Electric Oven, Range
Directions
from texas blvd turn right on 20th then left on elizabeth
Subdivision
T01A North TXK TX (North of I-30)
Standard status
Active
Size
1,440 SF
Lot size
0.38 Acres
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Ductless
Water source
Public
Building Details
Year built
1950
Floors in Building
2
Number of units
5
Flooring type
Vinyl
Building materials
Frame
Roof type
Shingle
Listing Agency:
Dixie-Douglas, LLC. dba Real Estates Rambo
(903) 701-7856
Listed By:
Paloma Quintana Avila
(903) 809-3483
Added: Oct 5
Last Checked: Oct 5 at 4:06PM
MLS# 206198
Copyright © 2026 Texarkana Board 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.
The property includes an up-and-down duplex with two apartments, each configured with two bedrooms and one bathroom. One apartment is occupied under a lease, while the other is vacant. Several repairs have been completed, and the property is being sold as-is.
A second building on the 0.38-acre parcel has fire damage and requires extensive remodeling. Public water and sewer service the property. The apartments include electric ovens and ranges, vinyl flooring, and ductless heating and cooling.
A second building on the 0.38-acre parcel has fire damage and requires extensive remodeling. Public water and sewer service the property. The apartments include electric ovens and ranges, vinyl flooring, and ductless heating and cooling.
Key Highlights
- Two apartment units, each with 2 bedrooms and 1 bathroom
- One apartment is leased; the other is vacant
- Second building has fire damage and needs extensive remodeling
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,614
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$172,280
$172.3K
Cap Rate 7%
$123,057
$123.1K
Cap Rate 9%
$95,711
$95.7K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$17.8K $12.36/SF
− Vacancy
−$2.1K −$1.48/SF
EGI
$15.7K $10.88/SF
− OpEx
−$7.0K −$4.89/SF
NOI
$8.6K $5.98/SF
Area
Bowie County, TX
Vacancy
12.00%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$172,280
Cap Rate 7%
$123,057
Cap Rate 9%
$95,711
Alternative Uses
Best Use
Apartment 5plus
$123.1K
$107.7K – $143.6K
NOI $8,614 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$1.08M
$949.1K – $1.27M
NOI $75,924 @ 7.0% cap · market cap 34.51%
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
806
Businesses Nearby
Explore this area
Business Placement
Demographics for 75501, TX
36,423
Population
15,302
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
86%
High-School Grad
96.3 sq mi
ZIP Area
378
Density / Sq Mi
$46,782
Median Household Income
$33,758
Median Earnings
$904
Median Rent
$125,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two apartments each have two bedrooms and one bathroom, with one currently leased and the other vacant.
Where is this multifamily property located?
The property is located at 2019 Elizabeth Texarkana, TX.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two apartment units, each with 2 bedrooms and 1 bathroom; One apartment is leased; the other is vacant; Second building has fire damage and needs extensive remodeling
