Triplex with New Building
For Sale
$135,000
106 NE 11th Avenue, Amarillo, TX 79107
MultiFamily, Amarillo, TX
Property Size1,320 SF
Price / SF$102.27
Days on Market103
Property Features for 106 NE 11th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
0100 - NW Amarillo in City Limits
Directions
From I27 North, heading toward downtown Amarillo, keep left on US 87 North. Left on NE 11th Avenue.
Subdivision
0120 - North Heights
Standard status
Active
APN
101501
Size
1,320 SF
Taxes and HOA fees
Tax Description
AMARILLO HEIGHTS, BLK 0035, E/2 OF 12
Legal Description
AMARILLO HEIGHTS, BLK 0035, E/2 OF 12
Building Details
Year built
1945
Listing Agency:
Wieck Realty, Inc.
(806) 236-4003
Listed By:
Kathryn Tow · License #709172
(806) 358-7421
Added: May 28
Changed: Sep 3
Last Checked: Sep 7 at 6:06PM
MLS# 26-4314
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 multifamily property is configured as a triplex with 1,320 square feet of building area. The unit mix includes two one-bedroom, one-bath residences and one two-bedroom, one-bath residence, providing three separate living units within the property.
Built in 1945, the building has new plumbing and new electrical systems. The property is located in Amarillo, Texas, in ZIP Code 79107.
Built in 1945, the building has new plumbing and new electrical systems. The property is located in Amarillo, Texas, in ZIP Code 79107.
Key Highlights
- Triplex with 1,320 square feet of building area
- Unit mix includes two 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit
- New plumbing and new electrical systems
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
$9,954
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
7.37%
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%
$199,080
$199.1K
Cap Rate 7%
$142,200
$142.2K
Cap Rate 9%
$110,600
$110.6K
Market Conditions
NOI Build-Up for 1,320 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
$15.0K $11.40/SF
− Vacancy
−$828 −$0.63/SF
EGI
$14.2K $10.77/SF
− OpEx
−$4.3K −$3.23/SF
NOI
$10.0K $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%
$199,080
Cap Rate 7%
$142,200
Cap Rate 9%
$110,600
Alternative Uses
Best Use
Multifamily LT 5
$142.2K
$124.4K – $165.9K
NOI $9,954 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$125.1K
$109.4K – $145.9K
NOI $8,755 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$294.7K
$257.9K – $343.8K
NOI $20,630 @ 7.0% cap · market cap 15.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
538
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?
Triplex - Three-unit residential income property with a mixed one-bedroom and two-bedroom configuration.
Where is this triplex located?
The property is located at 106 NE 11th Avenue Amarillo, TX.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: Triplex with 1,320 square feet of building area; Unit mix includes two 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit; New plumbing and new electrical systems
