Leased Duplex with Two
New
For Sale
$699,000
1213 1215 Oney Hervey Drive, College Station, TX 77840
Multi-Family, College Station, TX
Property Size2,898 SF
Lot Size0.17 Acres
Price / SF$241.20
Days on Market5
Property Features for 1213 1215 Oney Hervey Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
C07
Subdivision
Pecan Tree Ests
Elementary school district
College Station
Middle school district
College Station
High school district
College Station
Directions
From Kyle Field: turn left onto Wellborn Rd. Then turn left onto Holleman then take the first right onto Oney Hervey.
Standard status
Active
APN
1213, 1215 Oney Hervey C07
Size
2,898 SF
Lot size
0.17 Acres
Utilities
Heating system
Natural Gas, Central
Cooling system
Central Air, Ceiling Fan(s), Electric
Building Details
Year built
2000
Number of units
2
Flooring type
Carpet, Vinyl
Roof type
Shingle, Composition
Listing Agency:
Walsh &Mangan Premier RE Group
(979) 690-9977
Listed By:
Allison Bauerschlag · License #0677022
(832) 423-0609
Added: Sep 4
Last Checked: Sep 8 at 9:06PM
MLS# 26010908
Copyright © 2026 Bryan-College Station Regional MLS. 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.
Built in 2000, this duplex contains 2,898 square feet across two occupied units. Interior finishes include vinyl and carpet flooring, while central heating, natural gas, central air, electric cooling, and ceiling fans support year-round functionality. The property is situated on a 0.1713-acre lot and carries C07 zoning.
Both units are currently leased, with lease terms extending through July 2027. The property is approximately 5 miles from Kyle Field and Texas A&M University, with shopping, dining, entertainment, and major roadways also identified in the surrounding area. The roof combines shingle and composition materials.
Both units are currently leased, with lease terms extending through July 2027. The property is approximately 5 miles from Kyle Field and Texas A&M University, with shopping, dining, entertainment, and major roadways also identified in the surrounding area. The roof combines shingle and composition materials.
Key Highlights
- Two‑unit duplex with 2,898 square feet
- Both units occupied and leased through July 2027
- Built in 2000 on a 0.1713‑acre lot
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
$31,154
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
4.46%
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%
$623,080
$623.1K
Cap Rate 7%
$445,057
$445.1K
Cap Rate 9%
$346,156
$346.2K
Market Conditions
NOI Build-Up for 2,898 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
$46.9K $16.20/SF
− Vacancy
−$2.4K −$0.84/SF
EGI
$44.5K $15.36/SF
− OpEx
−$13.4K −$4.61/SF
NOI
$31.2K $10.75/SF
Area
College Station, TX
Vacancy
5.20%
Lease Rate
$16.20 /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%
$623,080
Cap Rate 7%
$445,057
Cap Rate 9%
$346,156
Alternative Uses
Best Use
Multifamily LT 5
$445.1K
$389.4K – $519.2K
NOI $31,154 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$397.2K
$347.5K – $463.4K
NOI $27,801 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$713.6K
$624.4K – $832.5K
NOI $49,952 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Explore this area
Business Placement
Demographics for 77840, TX
55,180
Population
25,423
Households
2.2
Avg Household Size
25
Median Age
46%
College-Educated
91%
High-School Grad
10.0 sq mi
ZIP Area
5,518
Density / Sq Mi
$31,278
Median Household Income
$14,521
Median Earnings
$1,085
Median Rent
$241,000
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 occupied units are leased through July 2027, providing established tenancy in a fully leased duplex.
Where is this duplex located?
The property is located at 1213 1215 Oney Hervey Drive College Station, TX.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,898 square feet; Both units occupied and leased through July 2027; Built in 2000 on a 0.1713‑acre lot
