Amarillo Multifamily Property For
3407 JANET Drive Amarillo, TX 79109
For Sale
Under Contract
$444,000
MULTI_FAMILY - Amarillo, TX
Property Size3,002 SF
Price / SF$147.90
Days on Market24
Property Features for 3407 JANET Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active Under Contract
- Size
- 3,002 SF
Taxes and HOA fees
- Tax Description
- PARAMOUNT TERRACE # 4 LOT 015 BLOCK 0017
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1963
- Building materials
- Brick Veneer
- Roof type
- Composition
Listing Agency:
Keller Williams Realty Amarillo
(806) 359-4000
Listed By:
Tim Soto
(806) 359-4000
Added: Jul 1
Last Checked: Jul 24 at 9:06PM
MLS# 26-1028
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 property in Amarillo, Texas, presents an opportunity to own a multifamily residential income property. The property includes a fourplex and an additional one-bedroom house located in the back. Two of the units have small yards. The property size is 3,002 square feet.
Key Highlights
- Multi‑family property featuring 4 units
- Includes a separate 1‑bedroom house
- Durable brick veneer construction
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 | $34.2k | $11.40 |
| − Vacancy | −$1.9k | −$0.63 |
| EGI | $32.3k | $10.77 |
| − OpEx | −$9.7k | −$3.23 |
| NOI | $22.6k | $7.54 |
3,002 SF · lease $11.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$323.4K
$283.0K – $377.3K
NOI $22,638 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$284.4K
$248.9K – $331.8K
NOI $19,910 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$670.3K
$586.5K – $782.0K
NOI $46,918 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Fourplex with additional one-bedroom house in Amarillo, Texas.
Where is this quadplex located?
The property is located at 3407 JANET Drive Amarillo, TX.
What is the asking price?
The asking price for this property is $444,000.
What are key features of this property?
This property features: Multi‑family property featuring 4 units; Includes a separate 1‑bedroom house; Durable brick veneer construction
