New Construction Duplex with
For Sale
$575,000
121 S Kanaio DR, Bastrop, TX 78602
Two matching units offer open layouts, upgraded finishes, private outdoor space, and dedicated laundry areas.
Property Size2,408 SF
Days on Market75
Property Features for 121 S Kanaio DR
General Information
Standard status
Active
Size
2,408 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$677
Building Details
Building Size
2,408 SF
Year Built
2026
Buildings
1
Listing Agency:
Keller Williams Realty
(512) 678-1100
Listed By:
Kevin White · License #0483240
Source:
Teamwestre
Added: May 29
Changed: Aug 9
Last Checked: Aug 10 at 9:37AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex includes two matching residences, each with approximately 1,204 square feet, three bedrooms, two bathrooms, and an attached finished garage. Both units use an open living, dining, and kitchen arrangement with stainless steel appliances, quality cabinetry, sleek countertops, and substantial workspace. Primary bedrooms include private ensuite bathrooms and closet space, while additional bedrooms can accommodate family members, guests, or office use. Dedicated laundry areas and private outdoor spaces serve each residence.
The property is located in Tahitian Village at 121 S Kanaio DR in Bastrop, with access to the Colorado River, local parks, hiking trails, and downtown Bastrop shopping and dining. The surrounding location also provides access toward Austin, Tesla, Samsung, and Austin-Bergstrom International Airport.
The property is located in Tahitian Village at 121 S Kanaio DR in Bastrop, with access to the Colorado River, local parks, hiking trails, and downtown Bastrop shopping and dining. The surrounding location also provides access toward Austin, Tesla, Samsung, and Austin-Bergstrom International Airport.
Key Highlights
- Two‑unit duplex completed in 2026
- Each unit offers approximately 1,204 square feet, 3 bedrooms, and 2 bathrooms
- Attached finished garage included with each residence
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
$40,379
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
7.02%
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%
$807,580
$807.6K
Cap Rate 7%
$576,843
$576.8K
Cap Rate 9%
$448,656
$448.7K
Market Conditions
NOI Build-Up for 2,408 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
$60.7K $25.20/SF
− Vacancy
−$3.0K −$1.24/SF
EGI
$57.7K $23.96/SF
− OpEx
−$17.3K −$7.19/SF
NOI
$40.4K $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%
$807,580
Cap Rate 7%
$576,843
Cap Rate 9%
$448,656
Alternative Uses
Best Use
Multifamily LT 5
$576.8K
$504.7K – $673.0K
NOI $40,379 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$527.3K
$461.4K – $615.2K
NOI $36,913 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$943.6K
$825.7K – $1.10M
NOI $66,053 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Explore this area
Business Placement
Demographics for 78602, TX
33,759
Population
13,485
Households
2.5
Avg Household Size
40
Median Age
27%
College-Educated
87%
High-School Grad
195.3 sq mi
ZIP Area
173
Density / Sq Mi
$86,976
Median Household Income
$41,644
Median Earnings
$1,331
Median Rent
$310,300
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 - Two matching units offer open layouts, upgraded finishes, private outdoor space, and dedicated laundry areas.
Where is this duplex located?
The property is located at 121 S Kanaio DR Bastrop, TX.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit duplex completed in 2026; Each unit offers approximately 1,204 square feet, 3 bedrooms, and 2 bathrooms; Attached finished garage included with each residence
