Updated Quadplex with Fenced
For Sale
$425,000
1000 SW 11th Avenue, Amarillo, TX 79101
MultiFamily, Amarillo, TX
Property Size4,240 SF
Price / SF$100.24
Days on Market33
Property Features for 1000 SW 11th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
0100 - NW Amarillo in City Limits
Bedrooms
6
Full bathrooms
5
Rooms
Bathroom 5, Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 2, Bedroom 3, Bedroom 5, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 1
Directions
North on Washington from I40, West on 11th
Subdivision
0101 - Bivins
Standard status
Active
APN
214138
Size
4,240 SF
Taxes and HOA fees
Tax Description
MADDEN ADDN, LOT 011, BLK 0004
Legal Description
MADDEN ADDN, LOT 011, BLK 0004
Amenities
fenced yard
Building Details
Year built
1941
Number of units
4
Roof type
Composition
Listing Agency:
Keller Williams Realty Amarillo
(806) 359-4000
Listed By:
Anastasia Blanda
(806) 359-4000
Added: Jul 22
Changed: Aug 19
Last Checked: Aug 23 at 3:06PM
MLS# 26-5908
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 4,240-square-foot quadplex contains three 1-bedroom, 1-bath apartments and one 3-bedroom, 2-bath apartment. The three smaller units are leased, while the larger residence is vacant and can support an owner occupant or a new tenancy. Improvements include a composition roof, replacement sewer lines, electrical updates, and a new HVAC system serving Unit 1. Each unit has its own utility meter, and the property includes a fenced yard.
Built in 1941, the property is located in Amarillo’s Bivins neighborhood at 1000 SW 11th Avenue. The projected cap rate is 9.25%.
Built in 1941, the property is located in Amarillo’s Bivins neighborhood at 1000 SW 11th Avenue. The projected cap rate is 9.25%.
Key Highlights
- Four‑unit quadplex totaling 4,240 square feet
- Three 1‑bedroom, 1‑bath units leased; one 3‑bedroom, 2‑bath unit vacant
- New composition roof and replacement sewer lines
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
$31,974
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
7.52%
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%
$639,480
$639.5K
Cap Rate 7%
$456,771
$456.8K
Cap Rate 9%
$355,267
$355.3K
Market Conditions
NOI Build-Up for 4,240 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
$48.3K $11.40/SF
− Vacancy
−$2.7K −$0.63/SF
EGI
$45.7K $10.77/SF
− OpEx
−$13.7K −$3.23/SF
NOI
$32.0K $7.54/SF
Area
Amarillo, TX
Vacancy
5.50%
Lease Rate
$11.40 /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%
$639,480
Cap Rate 7%
$456,771
Cap Rate 9%
$355,267
Alternative Uses
Best Use
Multifamily LT 5
$456.8K
$399.7K – $532.9K
NOI $31,974 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$401.7K
$351.5K – $468.7K
NOI $28,121 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$946.7K
$828.3K – $1.10M
NOI $66,266 @ 7.0% cap · market cap 15.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,679
Businesses Nearby
Explore this area
Business Placement
Demographics for 79101, TX
2,307
Population
1,309
Households
1.8
Avg Household Size
51
Median Age
15%
College-Educated
81%
High-School Grad
1.6 sq mi
ZIP Area
1,442
Density / Sq Mi
$40,313
Median Household Income
$36,409
Median Earnings
$898
Median Rent
$152,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit income property with separate utility meters, a fenced yard, and a vacant residence for flexible occupancy.
Where is this quadplex located?
The property is located at 1000 SW 11th Avenue Amarillo, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four‑unit quadplex totaling 4,240 square feet; Three 1‑bedroom, 1‑bath units leased; one 3‑bedroom, 2‑bath unit vacant; New composition roof and replacement sewer lines
