Updated Triplex with Garage
New
For Sale
$349,000
814 Mitchell Street, Bryan, TX 77802
Multi-Family, Bryan, TX
Property Size1,973 SF
Lot Size0.30 Acres
Price / SF$176.89
Days on Market1
Property Features for 814 Mitchell Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
B07
Subdivision
Mitchell-Lawren
Elementary school district
Bryan
Middle school district
Bryan
High school district
Bryan
Directions
From Texas Ave, Take a Right on Mitchell, Property located on the left
Standard status
Active
APN
814 Mitchell B07
Size
1,973 SF
Lot size
0.30 Acres
Utilities
Heating system
Electric (Heating), Central
Building Details
Year built
1945
Number of units
3
Listing Agency:
Walsh &Mangan Premier RE Group
(979) 690-9977
Listed By:
Allison Bauerschlag · License #0677022
(832) 423-0609
Added: Sep 11
Last Checked: Sep 11 at 7:06PM
MLS# 26010940
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 triplex combines a renovated duplex with a separate garage apartment on a 0.2984-acre lot. The duplex contains two 2-bedroom, 1-bath units, while the third unit is positioned above or within the detached garage. Both duplex units received extensive updates in 2019, including new AC systems, windows, and siding. The property totals 1,973 square feet and dates to 1945, with central electric heating throughout.
Unit A includes a private fenced yard and rear storage area. Unit B provides a front patio deck for additional exterior space. Each unit has its own electric meter, while water, sewer, and trash service are paid by the owner. The property is zoned B07 and is located in Bryan, Texas.
Unit A includes a private fenced yard and rear storage area. Unit B provides a front patio deck for additional exterior space. Each unit has its own electric meter, while water, sewer, and trash service are paid by the owner. The property is zoned B07 and is located in Bryan, Texas.
Key Highlights
- Three‑unit configuration with a duplex and separate garage apartment
- 0.2984‑acre lot with 1,973 square feet of property size
- Two 2‑bedroom, 1‑bath duplex units
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
$21,210
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
6.08%
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%
$424,200
$424.2K
Cap Rate 7%
$303,000
$303.0K
Cap Rate 9%
$235,667
$235.7K
Market Conditions
NOI Build-Up for 1,973 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
$32.0K $16.20/SF
− Vacancy
−$1.7K −$0.84/SF
EGI
$30.3K $15.36/SF
− OpEx
−$9.1K −$4.61/SF
NOI
$21.2K $10.75/SF
Area
Brazos County, 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%
$424,200
Cap Rate 7%
$303,000
Cap Rate 9%
$235,667
Alternative Uses
Best Use
Multifamily LT 5
$303.0K
$265.1K – $353.5K
NOI $21,210 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$270.4K
$236.6K – $315.5K
NOI $18,927 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$485.8K
$425.1K – $566.8K
NOI $34,008 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,315
Businesses Nearby
Explore this area
Business Placement
Demographics for 77802, TX
25,502
Population
12,189
Households
2.1
Avg Household Size
37
Median Age
42%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,218
Density / Sq Mi
$68,132
Median Household Income
$43,920
Median Earnings
$1,272
Median Rent
$237,600
Median Home Value
Check the figures for this property
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?
Triplex - Three separately metered units feature 2019 renovations and distinct outdoor areas, including a fenced yard, storage space, and patio deck.
Where is this triplex located?
The property is located at 814 Mitchell Street Bryan, TX.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Three‑unit configuration with a duplex and separate garage apartment; 0.2984‑acre lot with 1,973 square feet of property size; Two 2‑bedroom, 1‑bath duplex units
