Duplex with Updated Ground-Floor
For Sale
$369,000
401 Park Road, College Station, TX 77840
MULTI_FAMILY - College Station, TX
Property Size2,320 SF
Lot Size0.15 Acres
Price / SF$159.05
Days on Market185
Property Features for 401 Park Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C03
Parking
6
Subdivision
University Park
Elementary school district
College Station
Middle school district
College Station
High school district
College Station
Directions
University Drive at Hwy 6, head West on University to Spring Loop. Turn right on Spring Loop, right on Autumn Circle, right on Park.
Standard status
Active
APN
401 Park C03
Size
2,320 SF
Lot size
0.15 Acres
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
1994
Number of units
2
Listing Agency:
Walsh &Mangan Premier RE Group
(979) 690-9977
Listed By:
Sarah Mengers · License #0678340
(979) 690-9977
Added: Feb 25
Changed: Aug 6
Last Checked: Aug 29 at 5:06AM
MLS# 26002143
Copyright © 2026 Bryan-College Station Regional MLS. 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 offers a 1st and 2nd floor unit layout. Each unit includes three bedrooms and two bathrooms. The ground-floor unit was recently updated and is leased through June 2027. The dedicated kitchen features new appliances and laundry connections just off the kitchen, with sliding doors providing natural light and a spacious living room. Bedrooms are described as large with closet space, and bathrooms include ample cabinet and counter space.
Set on a dead-end street, the property sits next door to a park with walking trails, ponds, a playground, and a gazebo. The location is just off University Drive, within walking distance to multiple restaurants and three different TAMU bus stops.
The lot size is 0.1463 acres and the property size is 2,320 square feet. Built in 1994, the duplex has electric central heating and central air conditioning.
Set on a dead-end street, the property sits next door to a park with walking trails, ponds, a playground, and a gazebo. The location is just off University Drive, within walking distance to multiple restaurants and three different TAMU bus stops.
The lot size is 0.1463 acres and the property size is 2,320 square feet. Built in 1994, the duplex has electric central heating and central air conditioning.
Key Highlights
- 0.1463‑acre lot and 2,320 SF duplex building
- Ground‑floor unit recently updated and leased through June 2027
- Each unit features three bedrooms and two bathrooms
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
$24,941
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
6.76%
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%
$498,820
$498.8K
Cap Rate 7%
$356,300
$356.3K
Cap Rate 9%
$277,122
$277.1K
Market Conditions
NOI Build-Up for 2,320 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
$37.6K $16.20/SF
− Vacancy
−$2.0K −$0.84/SF
EGI
$35.6K $15.36/SF
− OpEx
−$10.7K −$4.61/SF
NOI
$24.9K $10.75/SF
Area
College Station, TX
Vacancy
5.20%
Lease Rate
$16.20 /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%
$498,820
Cap Rate 7%
$356,300
Cap Rate 9%
$277,122
Alternative Uses
Best Use
Multifamily LT 5
$356.3K
$311.8K – $415.7K
NOI $24,941 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$317.9K
$278.2K – $370.9K
NOI $22,256 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$571.3K
$499.9K – $666.5K
NOI $39,989 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
Explore this area
Business Placement
Demographics for 77840, TX
55,180
Population
25,423
Households
2.2
Avg Household Size
25
Median Age
46%
College-Educated
91%
High-School Grad
10.0 sq mi
ZIP Area
5,518
Density / Sq Mi
$31,278
Median Household Income
$14,521
Median Earnings
$1,085
Median Rent
$241,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each duplex unit offers three bedrooms and two baths, with the ground-floor unit recently updated and leased through June 2027.
Where is this duplex located?
The property is located at 401 Park Road College Station, TX.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 0.1463‑acre lot and 2,320 SF duplex building; Ground‑floor unit recently updated and leased through June 2027; Each unit features three bedrooms and two bathrooms
