Gated Townhome
1198 Jones Butler Rd Multi College Station, TX 77840
1198 Jones Butler Rd Multi, College Station, TX, 77840
$650,000
For Sale
$650,000
Two fully rented gated townhome units with HOA-paid cable, high-speed internet, and water for steady income.
Property Size3,616 SF
Price / SF$179.76
Days on Market36
Property Features for 1198 Jones Butler Rd Multi
General Information
- Standard status
- Active
- Size
- 3,616 SF
- Property subtype
- Investment
Building Details
- Year Built
- 2010
Listing agency
Wendy Cline Properties Group
(281) 858-3451
Listed by
Wendy Cline · License #0561297
(281) 858-3451
Source
Elliman
Added: Jun 16 Updated: Jul 6 at 2:28PM Checked: Jul 21 at 6:53AM
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 Wendy Cline Properties Group
Investment Insights
Based on property information with market context.
This offering includes two income-producing townhome units in Lakeridge Townhomes, located within a gated community. Each unit features four bedrooms and four and one-half bathrooms, with a spacious first-floor living area, a gourmet kitchen with granite countertops, a walk-in pantry, and a dedicated laundry room. Upstairs, every bedroom has its own private ensuite bath, providing added separation and privacy for roommates or multi-occupant households. Each unit also includes four assigned parking spaces.
The community amenities support an active, resident-friendly lifestyle, with a resort-style pool, hot tub, clubhouse, fitness center, movie theater, and basketball court. The property is about one mile from Texas A&M and is served by TAMU Bus Routes #35 and #36, with a stated 10-minute bike ride to West Campus. The HOA dues cover cable, high-speed internet, and water.
Units 2708 and 203 are fully rented through July 2027, providing an investor-ready package with in-place tenants. The layout is well-suited to groups seeking private bedroom and bath arrangements, while the on-site amenities and gated access add tangible day-to-day convenience for occupants.
The community amenities support an active, resident-friendly lifestyle, with a resort-style pool, hot tub, clubhouse, fitness center, movie theater, and basketball court. The property is about one mile from Texas A&M and is served by TAMU Bus Routes #35 and #36, with a stated 10-minute bike ride to West Campus. The HOA dues cover cable, high-speed internet, and water.
Units 2708 and 203 are fully rented through July 2027, providing an investor-ready package with in-place tenants. The layout is well-suited to groups seeking private bedroom and bath arrangements, while the on-site amenities and gated access add tangible day-to-day convenience for occupants.
Key Highlights
- Two fully rented gated townhome units in Lakeridge Townhomes (unit 2708 & 203) through July 2027
- Each 4‑bedroom, 4.5‑bath unit offers 1,808 sq. ft. with a spacious first‑floor living area
- Private ensuite baths for every bedroom in each unit
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.6k | $16.20 |
| − Vacancy | −$3.0k | −$0.84 |
| EGI | $55.5k | $15.36 |
| − OpEx | −$16.7k | −$4.61 |
| NOI | $38.9k | $10.75 |
3,616 SF · lease $16.20/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$555.3K
$485.9K – $647.9K
NOI $38,873 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$495.6K
$433.6K – $578.2K
NOI $34,689 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$890.4K
$779.1K – $1.04M
NOI $62,328 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two fully rented gated townhome units with HOA-paid cable, high-speed internet, and water for steady income.
Where is this duplex located?
The property is located at 1198 Jones Butler Rd Multi College Station, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two fully rented gated townhome units in Lakeridge Townhomes (unit 2708 & 203) through July 2027; Each 4‑bedroom, 4.5‑bath unit offers 1,808 sq. ft. with a spacious first‑floor living area; Private ensuite baths for every bedroom in each unit
