Fully Leased
For Sale
$975,000
406 Ash Street, College Station, TX 77840
Multi-Family, College Station, TX
Property Size3,696 SF
Lot Size0.19 Acres
Price / SF$263.80
Days on Market32
Property Features for 406 Ash Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
C03
Parking
10
Patio and Porch features
Patio
Exterior features
Covered Patio, Sprinkler System
Fencing
Privacy
Subdivision
College Vista
Elementary school district
College Station
Middle school district
College Station
High school district
College Station
Directions
Head Northwest on University Dr toward Asbury St./Tauber St. Turn right onto Nimitz St. Turn left at the 3rd cross street onto Ash St. Destination will be on the right.
Standard status
Active
APN
406 Ash C03
Size
3,696 SF
Lot size
0.19 Acres
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Ceiling Fan(s), Electric
Amenities
private balcony
fenced backyard
granite countertops
stainless steel appliances
refrigerator
washer
dryer
Building Details
Year built
2015
Floors in Building
2
Number of units
2
Flooring type
Carpet, Tile
Roof type
Composition
Listing Agency:
CENTURY 21 Integra · Century 21 Real Estate
(979) 764-2100
Listed By:
Jamie Prejean · License #0653743
(979) 777-1116
Added: Aug 5
Changed: Sep 3
Last Checked: Sep 5 at 4:06AM
MLS# 26009914
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.
Built in 2015, this duplex contains 3,696 square feet across two residential units, each configured with 5 bedrooms and 5 bathrooms. The interiors feature open living, dining, and kitchen areas, granite countertops, stainless steel appliances, ample cabinetry, tile and carpet flooring, and central heating and cooling. Refrigerators, washers, and dryers are included in both units. Each side also has a private balcony and access to a privacy-fenced backyard, with covered patio space and a sprinkler system. The property is fully leased and zoned C03.
Located at 406 Ash Street in College Station, the duplex is less than five minutes from Texas A&M University and near shopping, dining, entertainment, and everyday services. Its proximity to the university and five-bedroom layouts are identified as factors supporting student renter demand.
Located at 406 Ash Street in College Station, the duplex is less than five minutes from Texas A&M University and near shopping, dining, entertainment, and everyday services. Its proximity to the university and five-bedroom layouts are identified as factors supporting student renter demand.
Key Highlights
- 3,696‑square‑foot duplex built in 2015
- Two units, each with 5 bedrooms and 5 bathrooms
- Fully leased and zoned C03
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
$39,733
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
4.08%
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%
$794,660
$794.7K
Cap Rate 7%
$567,614
$567.6K
Cap Rate 9%
$441,478
$441.5K
Market Conditions
NOI Build-Up for 3,696 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
$59.9K $16.20/SF
− Vacancy
−$3.1K −$0.84/SF
EGI
$56.8K $15.36/SF
− OpEx
−$17.0K −$4.61/SF
NOI
$39.7K $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%
$794,660
Cap Rate 7%
$567,614
Cap Rate 9%
$441,478
Alternative Uses
Best Use
Multifamily LT 5
$567.6K
$496.7K – $662.2K
NOI $39,733 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$506.5K
$443.2K – $590.9K
NOI $35,456 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$910.1K
$796.3K – $1.06M
NOI $63,707 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,039
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 - Two residential units offer five-bedroom, five-bath layouts with furnished kitchens, in-unit laundry, balconies, and fenced outdoor space.
Where is this duplex located?
The property is located at 406 Ash Street College Station, TX.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 3,696‑square‑foot duplex built in 2015; Two units, each with 5 bedrooms and 5 bathrooms; Fully leased and zoned C03
