Three-Unit Residential Income
1018 Merchant Street Abilene, TX 79603
For Sale
$250,000
Triplex with one 3-bedroom unit and two 2-bedroom units, currently generating income on month-to-month leases.
Property Size2,814 SF
Price / SF$88.84
Days on Market58
Property Features for 1018 Merchant Street
General Information
- Standard status
- Active
- Size
- 2,814 SF
- Property subtype
- Multi-Family / Triplex
Building Details
- Year Built
- 1946
Listing Agency:
Coldwell Banker Apex, REALTORS
(325) 725-6641
Listed By:
Chad Chaney · License #0588387
(325) 725-6641
Source:
Compass
Added: May 28
Changed: Jul 10
Last Checked: Jul 23 at 11:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Apex, REALTORS
Investment Insights
Based on property information with market context.
This triplex for sale includes three rental units. One unit is a 3-bedroom, 1-bath layout with parking in the front. The other two units are each 2-bedroom, 1-bath, and are accessed via the alley.
The property is located at 1018 Merchant Street in Abilene, Texas. Parking is provided at the front for the 3-bedroom unit, while the rear units use alley access, creating separate practical entry points for tenants.
The current tenant setup is income-producing, with leases on a month-to-month basis. This can appeal to an owner seeking a residential income property with multiple unit configurations, plus the flexibility that comes with month-to-month occupancy for the existing leases.
The property is located at 1018 Merchant Street in Abilene, Texas. Parking is provided at the front for the 3-bedroom unit, while the rear units use alley access, creating separate practical entry points for tenants.
The current tenant setup is income-producing, with leases on a month-to-month basis. This can appeal to an owner seeking a residential income property with multiple unit configurations, plus the flexibility that comes with month-to-month occupancy for the existing leases.
Key Highlights
- 3‑unit triplex: one 3‑bedroom/1‑bath unit and two 2‑bedroom/1‑bath units
- Month‑to‑month leases in place; property is currently income producing
- Single‑story (1) frame with siding construction and composition roof
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.5k | $14.76 |
| − Vacancy | −$2.3k | −$0.81 |
| EGI | $39.3k | $13.95 |
| − OpEx | −$17.7k | −$6.28 |
| NOI | $21.6k | $7.67 |
2,814 SF · lease $14.76/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$333.3K
$291.6K – $388.8K
NOI $23,330 @ 7.0% cap · market cap 9.33%
Second Best
Apartment 5plus
$308.4K
$269.9K – $359.8K
NOI $21,588 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$628.3K
$549.7K – $733.0K
NOI $43,979 @ 7.0% cap · market cap 17.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Triplex with one 3-bedroom unit and two 2-bedroom units, currently generating income on month-to-month leases.
Where is this triplex located?
The property is located at 1018 Merchant Street Abilene, TX.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 3‑unit triplex: one 3‑bedroom/1‑bath unit and two 2‑bedroom/1‑bath units; Month‑to‑month leases in place; property is currently income producing; Single‑story (1) frame with siding construction and composition roof
