Duplex with Development
For Sale
$375,000
111 Rose DR, Dripping Springs, TX 78620
1.13-acre duplex site offered with no zoning or restrictions; may be combined to create a larger Hwy 290 frontage tract.
Property Size1,150 SF
Lot Size1.13 Acres
Days on Market261
Property Features for 111 Rose DR
General Information
Standard status
Active
Size
1,150 SF
Lot size
1.13 Acres
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,561
Building Details
Building Size
1,150 SF
Year Built
1980
Listing Agency:
Randy Hutto, Realtors
Listed By:
Randy Hutto · License #0328942
(512) 461-2050
Source:
Zellteam
Added: Feb 2
Changed: Oct 10
Last Checked: Oct 19 at 3:14PM
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 Randy Hutto, Realtors
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property consists of 1.13 acres with a duplex, and it is being offered with “no zoning” and “no restrictions” stated in the remarks. The listing notes that the 1.13 acres may also be purchased together with an adjacent 4.2-acre car wash, creating a combined 5.33-acre tract with Hwy 290 frontage.
According to the remarks, the property is not within the city limits of Dripping Springs, and it is also not within the city limits referenced for the car wash.
For buyers and brokers looking for a flexible site, the duplex presence and the option to control a larger frontage tract are the key attributes highlighted in the provided information.
According to the remarks, the property is not within the city limits of Dripping Springs, and it is also not within the city limits referenced for the car wash.
For buyers and brokers looking for a flexible site, the duplex presence and the option to control a larger frontage tract are the key attributes highlighted in the provided information.
Key Highlights
- 1.13‑acre duplex property offered on its own or for combination with the 4.2‑acre car wash
- May be combined to create a 5.33‑acre tract with Hwy 290 frontage
- Property is not within the City Limits of Dripping Springs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,284
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$385,680
$385.7K
Cap Rate 7%
$275,486
$275.5K
Cap Rate 9%
$214,267
$214.3K
Market Conditions
NOI Build-Up for 1,150 SF
Gross rent
$29.0K $25.20/SF
− Vacancy
−$1.4K −$1.24/SF
EGI
$27.5K $23.96/SF
− OpEx
−$8.3K −$7.19/SF
NOI
$19.3K $16.77/SF
Area
Hays 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 Rate 5%
$385,680
Cap Rate 7%
$275,486
Cap Rate 9%
$214,267
Alternative Uses
Best Use
Multifamily LT 5
$275.5K
$241.1K – $321.4K
NOI $19,284 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$251.8K
$220.4K – $293.8K
NOI $17,629 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$480.7K
$420.6K – $560.9K
NOI $33,651 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Explore this area
Business Placement
Demographics for 78620, TX
20,493
Population
7,929
Households
2.6
Avg Household Size
43
Median Age
62%
College-Educated
97%
High-School Grad
175.6 sq mi
ZIP Area
117
Density / Sq Mi
$146,551
Median Household Income
$58,583
Median Earnings
$1,674
Median Rent
$624,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - 1.13-acre duplex site offered with no zoning or restrictions; may be combined to create a larger Hwy 290 frontage tract.
Where is this duplex located?
The property is located at 111 Rose DR Dripping Springs, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1.13‑acre duplex property offered on its own or for combination with the 4.2‑acre car wash; May be combined to create a 5.33‑acre tract with Hwy 290 frontage; Property is not within the City Limits of Dripping Springs
