New Construction
For Sale
$475,000
111 Fisher St A & B, Elgin, TX 78621
Both occupied units offer updated finishes, fenced outdoor space, and separately metered utilities.
Property Size2,486 SF
Price / SF$191.07
Days on Market8
Property Features for 111 Fisher St A & B
General Information
Standard status
Active
Size
2,486 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
private fenced yards
Building Details
Year Built
2024
Buildings
1
Listing Agency:
eXp Realty, LLC
(512) 541-5220
Listed By:
Kristi Plotkin
Source:
Olverabolton
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 28 at 1:12PM
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.
Built in 2024, this 2,486-square-foot duplex contains two occupied units, each with three bedrooms and two bathrooms. Interior features include modern finishes and quartz countertops, while private fenced yards extend the usable space outside. Separate utility meters serve the units and support straightforward property operations.
The property offers convenient access to Hwy 290 and is approximately 15 minutes from Tesla Gigafactory and Samsung. Two additional duplexes are also available for individual acquisition or as part of a portfolio package.
The property offers convenient access to Hwy 290 and is approximately 15 minutes from Tesla Gigafactory and Samsung. Two additional duplexes are also available for individual acquisition or as part of a portfolio package.
Key Highlights
- 2,486‑square‑foot duplex built in 2024
- Two occupied units, each with 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
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
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
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Frequently Asked Questions
What type of property is this?
Duplex - Both occupied units offer updated finishes, fenced outdoor space, and separately metered utilities.
Where is this duplex located?
The property is located at 111 Fisher St 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: 2,486‑square‑foot duplex built in 2024; Two occupied units, each with 3 bedrooms and 2 bathrooms; Quartz countertops and modern interior finishes
