Leased Two-Unit
For Sale
$625,000
1215 Oney Hervey Dr 1213, College Station, TX 77840
Fully occupied residential income property with leases extending through July 2027.
Property Size2,898 SF
Price / SF$215.67
Days on Market64
Property Features for 1215 Oney Hervey Dr 1213
General Information
Standard status
Active
Size
2,898 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Neighborhood
Mcculloch
Additional Details
Gross Income
$54,000
Multifamily Units
2
Building Details
Year Built
2000
Listing Agency:
Walsh &Mangan Premier RE Group
Listed By:
Allison Bauerschlag · License #0677022
(832) 423-0609
Source:
Allcentraltxhomesforsale
Added: Aug 22
Changed: Oct 1
Last Checked: Oct 23 at 7:34AM
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 Walsh &Mangan Premier RE Group
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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.
Built in 2000, this 2,898-square-foot duplex contains two occupied residential units and is fully leased. Existing lease commitments extend through July 2027, providing established tenancy at the property.
The duplex is located at 1215 Oney Hervey Dr 1213 in College Station, approximately 5 miles from Kyle Field and Texas A&M University. Shopping, dining, entertainment, and major roadways are also identified in the surrounding area, placing the property near campus-related amenities and transportation routes.
The duplex is located at 1215 Oney Hervey Dr 1213 in College Station, approximately 5 miles from Kyle Field and Texas A&M University. Shopping, dining, entertainment, and major roadways are also identified in the surrounding area, placing the property near campus-related amenities and transportation routes.
Key Highlights
- Two occupied units in a fully leased duplex
- 2,898 square feet of building area
- Leases in place through July 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,154
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
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
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 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 4.98%
Second Best
Apartment 5plus
$397.2K
$347.5K – $463.4K
NOI $27,801 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$713.6K
$624.4K – $832.5K
NOI $49,952 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
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
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied residential income property with leases extending through July 2027.
Where is this duplex located?
The property is located at 1215 Oney Hervey Dr 1213 College Station, TX.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two occupied units in a fully leased duplex; 2,898 square feet of building area; Leases in place through July 2027
