Two-Duplex Income
New
For Sale
$1,200,000
1229 1231 1233 1235 Oney Hervey Drive, College Station, TX 77840
Multi-Family, College Station, TX
Property Size5,828 SF
Lot Size0.17 Acres
Price / SF$205.90
Days on Market2
Property Features for 1229 1231 1233 1235 Oney Hervey Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
C07
Fencing
Privacy
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
1229, 1231, 1233, 1235 Oney Hervey C07
Size
5,828 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
Floors in Building
1
Number of units
4
Flooring type
Carpet, Vinyl
Roof type
Shingle
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 5 at 4:06AM
MLS# 26010907
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.
This two-duplex property includes four residential units within a combined 5,828 square feet. The buildings were constructed in 2000 and feature carpet and vinyl flooring, central heating, central air, ceiling fans, electric cooling, natural gas service, privacy fencing, and shingle roofs. Units 1229 and 1235 received fresh paint during the July 2026 tenant turnover.
All four units are leased through July 2027. The property occupies 0.1736 acres at 1229, 1231, 1233, and 1235 Oney Hervey Drive in College Station, within approximately 5 miles of Kyle Field and Texas A&M University. Shopping, dining, and major thoroughfares are also identified in the surrounding area. Zoning is C07.
All four units are leased through July 2027. The property occupies 0.1736 acres at 1229, 1231, 1233, and 1235 Oney Hervey Drive in College Station, within approximately 5 miles of Kyle Field and Texas A&M University. Shopping, dining, and major thoroughfares are also identified in the surrounding area. Zoning is C07.
Key Highlights
- Two duplexes totaling four residential units
- 5,828 square feet on 0.1736 acres
- All four units leased through July 2027
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
$62,653
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
5.22%
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%
$1,253,060
$1.3M
Cap Rate 7%
$895,043
$895.0K
Cap Rate 9%
$696,144
$696.1K
Market Conditions
NOI Build-Up for 5,828 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
$94.4K $16.20/SF
− Vacancy
−$4.9K −$0.84/SF
EGI
$89.5K $15.36/SF
− OpEx
−$26.9K −$4.61/SF
NOI
$62.7K $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%
$1,253,060
Cap Rate 7%
$895,043
Cap Rate 9%
$696,144
Alternative Uses
Best Use
Multifamily LT 5
$895.0K
$783.2K – $1.04M
NOI $62,653 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$798.7K
$698.9K – $931.8K
NOI $55,909 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$1.44M
$1.26M – $1.67M
NOI $100,456 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Four residential units are fully leased, with central heating and cooling, privacy fencing, and carpet or vinyl flooring.
Where is this duplex located?
The property is located at 1229 1231 1233 1235 Oney Hervey Drive College Station, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two duplexes totaling four residential units; 5,828 square feet on 0.1736 acres; All four units leased through July 2027
