Amarillo Fourplex: Investor
For Sale
$305,000
Pending
1224 Southwest 11th Avenue, Amarillo, TX 79101
Well-maintained fourplex in high-demand rental area near downtown Amarillo.
Property Size3,752 SF
Days on Market109
Property Features for 1224 Southwest 11th Avenue
General Information
Standard status
Pending
Size
3,752 SF
Property subtype
MultiFamily
Amenities
Yes, Electric, Central Air
Yes
Two
Composition
Frame
Building Details
Year Built
1954
Listing Agency:
Real Broker, LLC
(806) 673-6418
Listed By:
Derek Manasco · License #783733
(806) 673-6418
Source:
Compass
Added: May 8
Changed: Aug 23
Last Checked: Aug 23 at 5:55AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This fourplex presents an investor opportunity in Amarillo. Located minutes from downtown, the property at 1224 SW 11th Ave is a well-maintained building with immediate cash flow, as all four units are currently leased. The property, totaling 3,752 square feet, features two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units, offering rental appeal and flexibility for tenants. A new roof was installed in 2018, and the property has been kept in solid overall condition. Requiring mostly cosmetic improvements, this property is a value-add opportunity for investors seeking to increase equity and rental potential without major renovations. The income-producing property is situated in a high-demand rental area with long-term upside.
Key Highlights
- Immediate cash flow with all four units currently leased.
- Prime value‑add opportunity with mostly cosmetic improvements needed.
- Convenient location minutes from downtown Amarillo in a high‑demand rental area.
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
$24,884
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
8.16%
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%
$497,680
$497.7K
Cap Rate 7%
$355,486
$355.5K
Cap Rate 9%
$276,489
$276.5K
Market Conditions
NOI Build-Up for 3,752 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
$47.7K $12.72/SF
− Vacancy
−$2.5K −$0.66/SF
EGI
$45.2K $12.06/SF
− OpEx
−$20.4K −$5.43/SF
NOI
$24.9K $6.63/SF
Area
Amarillo, TX
Vacancy
5.20%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
45.00%
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%
$497,680
Cap Rate 7%
$355,486
Cap Rate 9%
$276,489
Alternative Uses
Best Use
Multifamily LT 5
$404.2K
$353.7K – $471.6K
NOI $28,294 @ 7.0% cap · market cap 9.28%
Second Best
Apartment 5plus
$355.5K
$311.1K – $414.7K
NOI $24,884 @ 7.0% cap · market cap 8.16%
Theoretical Best
Office A
$837.7K
$733.0K – $977.3K
NOI $58,639 @ 7.0% cap · market cap 19.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,103
Businesses Nearby
Explore this area
Business Placement
Demographics for 79101, TX
2,307
Population
1,309
Households
1.8
Avg Household Size
51
Median Age
15%
College-Educated
81%
High-School Grad
1.6 sq mi
ZIP Area
1,442
Density / Sq Mi
$40,313
Median Household Income
$36,409
Median Earnings
$898
Median Rent
$152,300
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?
Quadplex - Well-maintained fourplex in high-demand rental area near downtown Amarillo.
Where is this quadplex located?
The property is located at 1224 Southwest 11th Avenue Amarillo, TX.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Immediate cash flow with all four units currently leased.; Prime value‑add opportunity with mostly cosmetic improvements needed.; Convenient location minutes from downtown Amarillo in a high‑demand rental area.
