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    The Largest CRE Database in the US with Over 1 Million Listings

    912 N Tivy St Kerrville, TX 78028

    Sponsored
    For Sale
    $350,000

    MULTI_FAMILY - Cottage - Kerrville, TX

    Property size:
    3,160 SF
    Lot size:
    0.37 Acres
    Days on Market:
    5
    Last Refresh:
    Feb 6 at 11:06 am

    Property Features for 912 N Tivy St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Storm Window(s)
    Zoning
    R1
    Rooms
    Bathroom 1, Bathroom 5, Bathroom 2, Bathroom 3, Bathroom 4
    Bathrooms
    5
    Parking
    3
    Parking features
    Garage
    Patio and Porch features
    Patio
    Interior features
    High Ceilings, Shower Stall
    Fireplace
    1
    Appliances
    Electric Water Heater, Refrigerator, Surface Unit/Oven
    Size
    3,160 SF
    Lot size
    0.37 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central, Heat Pump (Heating)
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Number of units
    3
    Flooring type
    Carpet, Wood, Vinyl
    Building materials
    Stucco
    Roof type
    Composition
    Architectural style
    Cottage
    Additional Structures
    Guest House

    We can help!

    Listing Contact
    Pat Parker

    First Realty of Kerrville (830) 896-3200

    Listing agent Pat Parker (830) 739-3201

    Listing date Feb 2, 2026

    MLS# 121397 Listing URL

    Copyright © 2026 Kerrville 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.

    Learn more

    Property Insight Report

    Overview

    Vintage Multifamily Charmer in Kerrville

    This multifamily property in Kerrville, Texas, features a vintage charm. The main house includes a living room with a fireplace and a formal dining area or second living area with original French doors to the exterior. Oak hardwood floors lie beneath the carpet. Most of the electrical and plumbing systems have been updated. The main house also has a one-car garage. Rear entry provides access to a detached garage, cottage, and garage apartment off Oak Street. The cottage and garage apartment are one-bedroom, one-bathroom units with long-term tenants. New roof shingles have been installed on all three structures. Mature trees surround the property. This is a great investment opportunity. The property includes 913 A & B Oak Street. It is separately metered for electricity but has only one water meter for all units. The property is zoned R1 and sits on a 0.37-acre lot. The property size is 3160 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kerrville
    County
    Kerr
    State
    Texas
    Longitude
    -99.129714
    Latitude
    30.0495064

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    FAQs

    What type of property is this?
    Triplex - Charming multifamily property with updated systems and long-term tenants.
    Where is this triplex located?
    The property is located at 912 N Tivy St Kerrville, TX.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: - New roof shingles on all 3 structures (main house, cottage, and garage apartment).; - Includes a main house plus a 1 bed/1 bath cottage and a 1 bed/1 bath garage apartment, providing rental income potential.; - Updated electrical and plumbing in the main house.
    (830) 739-3201
    Request Owner's contact information
    912 N Tivy St Kerrville, TX 78028
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    Kerrville, TX 78028
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    912 N Tivy St Kerrville, TX 78028
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    We can help!
    Listing Contact
    Pat Parker
    (830) 739-3201
    Learn more
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