Frame Quadplex with Central
For Sale
$305,000
1008 SW 11TH Avenue, Amarillo, TX 79107
MULTI_FAMILY - Amarillo, TX
Property Size2,090 SF
Price / SF$145.93
Days on Market108
Property Features for 1008 SW 11TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
0100 - NW Amarillo in City Limits
Bedrooms
8
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 7, Bedroom 5, Bathroom 1, Bedroom 6, Bathroom 4, Bedroom 8, Bedroom 1, Bedroom 2, Bathroom 3
Appliances
Microwave, Disposal, Dishwasher, Cooktop
Directions
From I-40, take S Washington St north. Left onto SW 11th Ave, property will be on your right.
Subdivision
0101 - Bivins
Standard status
Active
Size
2,090 SF
Taxes and HOA fees
Tax Description
MADDEN ADDN, BLK 0004, LOTS 14 & 15, 0.4000 ACRES
Legal Description
MADDEN ADDN, BLK 0004, LOTS 14 & 15, 0.4000 ACRES
Utilities
Cooling system
Electric, Central Air
Building Details
Year built
1918
Number of units
4
Building materials
Frame
Roof type
Composition
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Derek Manasco · License #783733
(214) 202-7615
Added: May 8
Changed: Aug 4
Last Checked: Aug 23 at 3:06PM
MLS# 26-3780
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 quadplex at 1008 SW 11th Avenue offers frame construction with central air and electric cooling. The home was built in 1918 and has a composition roof. Inside, the layout includes eight bedrooms and four bathrooms, supporting multiple tenant options within one income-producing property.
The property is located in established area of Amarillo and is described as being just minutes from I-40, with close proximity to Amarillo International Airport. It’s also positioned near Amarillo’s revitalized downtown district with local dining and entertainment.
Kitchen appliances include a microwave, disposal, dishwasher, and cooktop. Additional building systems and finishes include central air, electric cooling, and a composition roof, creating a straightforward residential setup for ongoing rental use.
The property is located in established area of Amarillo and is described as being just minutes from I-40, with close proximity to Amarillo International Airport. It’s also positioned near Amarillo’s revitalized downtown district with local dining and entertainment.
Kitchen appliances include a microwave, disposal, dishwasher, and cooktop. Additional building systems and finishes include central air, electric cooling, and a composition roof, creating a straightforward residential setup for ongoing rental use.
Key Highlights
- 1008 SW 11th Avenue quadplex in Amarillo, TX 79107‑3354
- Frame construction with composition roof
- Central air with electric cooling
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
$15,761
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
5.17%
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%
$315,220
$315.2K
Cap Rate 7%
$225,157
$225.2K
Cap Rate 9%
$175,122
$175.1K
Market Conditions
NOI Build-Up for 2,090 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
$23.8K $11.40/SF
− Vacancy
−$1.3K −$0.63/SF
EGI
$22.5K $10.77/SF
− OpEx
−$6.8K −$3.23/SF
NOI
$15.8K $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%
$315,220
Cap Rate 7%
$225,157
Cap Rate 9%
$175,122
Alternative Uses
Best Use
Multifamily LT 5
$225.2K
$197.0K – $262.7K
NOI $15,761 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$198.0K
$173.3K – $231.0K
NOI $13,861 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$466.6K
$408.3K – $544.4K
NOI $32,664 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,679
Businesses Nearby
Explore this area
Business Placement
Demographics for 79107, TX
37,480
Population
12,346
Households
3
Avg Household Size
34
Median Age
6%
College-Educated
61%
High-School Grad
19.6 sq mi
ZIP Area
1,912
Density / Sq Mi
$39,474
Median Household Income
$28,084
Median Earnings
$1,016
Median Rent
$88,400
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?
Quadplex - Frame quadplex with central air and electric cooling, positioned in an established Amarillo rental area.
Where is this quadplex located?
The property is located at 1008 SW 11TH Avenue Amarillo, TX.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: 1008 SW 11th Avenue quadplex in Amarillo, TX 79107‑3354; Frame construction with composition roof; Central air with electric cooling
