3-Residence Multifamily
New
For Sale
$2,025,000
103 Sterling Street, College Station, TX 77840
Multi-Family, College Station, TX
Property Size7,542 SF
Lot Size0.45 Acres
Price / SF$268.50
Days on Market2
Property Features for 103 Sterling Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C05
Parking
15
Patio and Porch features
Patio
Exterior features
Covered Patio
Fencing
Privacy
Elementary school district
College Station
Middle school district
College Station
High school district
College Station
Directions
From Texas Avenue and Holleman Drive: 1) Go South on Texas Avenue, U-turn at Manuel, Right on Sterling; 2) Go East on Holleman Drive, Right on Lassie, Right on Sterling
Standard status
Active
APN
103 Sterling C05
Size
7,542 SF
Lot size
0.45 Acres
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Ceiling Fan(s), Electric, Central Air
Amenities
on-site parking
fenced backyard
Building Details
Year built
2022
Floors in Building
2
Number of units
3
Flooring type
Carpet, Vinyl
Roof type
Shingle, Composition
Listing Agency:
RE/MAX 2020 · RE/MAX International
(979) 383-2020
Listed By:
Chad Hovde · License #HOVDECHA122
(979) 450-4347
Added: Sep 24
Last Checked: Sep 25 at 6:06AM
MLS# 26011657
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 College Station multifamily property comprises three purpose-built shared-housing residences completed in 2022. Each has five bedrooms, five full bathrooms and one half bath, with an open first-floor plan, a large living area and a kitchen island. Private en-suite bathrooms and walk-in closets serve the bedrooms. The property also includes covered patio space, a fenced backyard and on-site parking. Total building area is 7,542 square feet on 0.453 acres, and the zoning designation is C05.
The residences are less than one mile from Texas A&M University. H-E-B, Target and Starbucks are described as within walking distance. The current leases run through July 2027.
The residences are less than one mile from Texas A&M University. H-E-B, Target and Starbucks are described as within walking distance. The current leases run through July 2027.
Key Highlights
- Three residences totaling 7,542 square feet on 0.453 acres
- Each residence has 5 bedrooms, 5 full baths and 1 half bath
- Built in 2022
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
$81,079
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
4.00%
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%
$1,621,580
$1.6M
Cap Rate 7%
$1,158,271
$1.2M
Cap Rate 9%
$900,878
$900.9K
Market Conditions
NOI Build-Up for 7,542 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
$122.2K $16.20/SF
− Vacancy
−$6.4K −$0.84/SF
EGI
$115.8K $15.36/SF
− OpEx
−$34.7K −$4.61/SF
NOI
$81.1K $10.75/SF
Area
College Station, 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%
$1,621,580
Cap Rate 7%
$1,158,271
Cap Rate 9%
$900,878
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.01M – $1.35M
NOI $81,079 @ 7.0% cap · market cap 4.00%
Second Best
Apartment 5plus
$1.03M
$904.4K – $1.21M
NOI $72,351 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,000 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
998
Businesses Nearby
Explore this area
Business Placement
Demographics for 77840, TX
55,180
Population
25,423
Households
2.2
Avg Household Size
25
Median Age
46%
College-Educated
91%
High-School Grad
10.0 sq mi
ZIP Area
5,518
Density / Sq Mi
$31,278
Median Household Income
$14,521
Median Earnings
$1,085
Median Rent
$241,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Each residence pairs five private bedroom suites with open-concept living space and a central kitchen island.
Where is this multifamily property located?
The property is located at 103 Sterling Street College Station, TX.
What is the asking price?
The asking price for this property is $2,025,000.
What are key features of this property?
This property features: Three residences totaling 7,542 square feet on 0.453 acres; Each residence has 5 bedrooms, 5 full baths and 1 half bath; Built in 2022
