Duplex with Fenced
For Sale
$475,000
111 Fisher ST # B Unit A & B, Elgin, TX 78621
Both residences are occupied and feature contemporary finishes, private fenced yards, and individually metered utilities.
Property Size2,486 SF
Days on Market55
Property Features for 111 Fisher ST # B Unit A & B
General Information
Standard status
Active
Size
2,486 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,558
Amenities
modern finishes
quartz countertops
private fenced yards
separate utility meters
Building Details
Building Size
2,486 SF
Year Built
2024
Buildings
1
Listing Agency:
eXp Realty, LLC
(512) 541-5220
Listed By:
Kristi Plotkin
Source:
Localcolorrealestateaustin
Added: Jun 19
Changed: Aug 11
Last Checked: Aug 11 at 12:32PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This 2024-built duplex at 111 Fisher St in Elgin includes two occupied residences, each configured with three bedrooms and two bathrooms. Interior finishes include quartz countertops, while private fenced yards provide dedicated outdoor space for each unit. Separate utility meters support distinct unit-level utility service.
The property offers access to Hwy 290 and is approximately 15 minutes from the Tesla Gigafactory and Samsung. Two additional duplexes are also available for separate acquisition or a portfolio purchase, creating flexibility for buyers seeking to acquire one property or multiple assets.
The property offers access to Hwy 290 and is approximately 15 minutes from the Tesla Gigafactory and Samsung. Two additional duplexes are also available for separate acquisition or a portfolio purchase, creating flexibility for buyers seeking to acquire one property or multiple assets.
Key Highlights
- 2024 construction with two occupied residences
- Each unit offers 3 bedrooms and 2 bathrooms
- Quartz countertops and modern interior finishes
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
$41,687
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
8.78%
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%
$833,740
$833.7K
Cap Rate 7%
$595,529
$595.5K
Cap Rate 9%
$463,189
$463.2K
Market Conditions
NOI Build-Up for 2,486 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
$62.6K $25.20/SF
− Vacancy
−$3.1K −$1.24/SF
EGI
$59.6K $23.96/SF
− OpEx
−$17.9K −$7.19/SF
NOI
$41.7K $16.77/SF
Area
Bastrop County, TX
Vacancy
4.94%
Lease Rate
$25.20 /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%
$833,740
Cap Rate 7%
$595,529
Cap Rate 9%
$463,189
Alternative Uses
Best Use
Multifamily LT 5
$595.5K
$521.1K – $694.8K
NOI $41,687 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$544.4K
$476.4K – $635.1K
NOI $38,108 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$974.2K
$852.4K – $1.14M
NOI $68,193 @ 7.0% cap · market cap 14.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Explore this area
Business Placement
Demographics for 78621, TX
27,275
Population
10,671
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
81%
High-School Grad
177.7 sq mi
ZIP Area
153
Density / Sq Mi
$88,246
Median Household Income
$48,955
Median Earnings
$1,317
Median Rent
$262,300
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?
Duplex - Both residences are occupied and feature contemporary finishes, private fenced yards, and individually metered utilities.
Where is this duplex located?
The property is located at 111 Fisher ST # B Unit A & B Elgin, TX.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2024 construction with two occupied residences; Each unit offers 3 bedrooms and 2 bathrooms; Quartz countertops and modern interior finishes
