Duplex with Covered Back
For Sale
$274,900
3909 Olive St, Bryan, TX 77801
Well-maintained duplex with two leased units, washer/dryer hookups, and covered back patios.
Property Size1,722 SF
Days on Market32
Property Features for 3909 Olive St
General Information
Standard status
Active
Size
1,722 SF
Property subtype
Investment
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$4,467
Building Details
Building Size
1,722 SF
Year Built
1976
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
Eastex Real Estate Brokerage Co., LLC
(979) 255-8637
Listed By:
Chelsie Breaux
(979) 255-8637
Source:
Elliman
Added: Jul 30
Changed: Aug 23
Last Checked: Aug 29 at 11:55AM
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 Eastex Real Estate Brokerage Co., LLC
Investment Insights
Based on property information with market context.
This well-maintained duplex includes two income-producing units. Both units are currently leased, with one unit on a month-to-month lease and the second leased through April 2027. Recent updates include fresh interior paint in one unit and a full plumbing replacement in both units in April 2026.
Each side offers washer/dryer hookup connections, covered back patios, and spacious private backyard areas. Major systems have been updated over time, including replacement of both HVAC units and water heaters in recent years.
Built in 1976, the property totals 1,722 square feet and presents a strong layout for investors seeking rental cash flow or owner-occupants looking to offset their mortgage with unit income.
Each side offers washer/dryer hookup connections, covered back patios, and spacious private backyard areas. Major systems have been updated over time, including replacement of both HVAC units and water heaters in recent years.
Built in 1976, the property totals 1,722 square feet and presents a strong layout for investors seeking rental cash flow or owner-occupants looking to offset their mortgage with unit income.
Key Highlights
- Both units leased: one month‑to‑month and one through April 2027
- Full plumbing replacement for both units in April 2026
- Each unit includes washer/dryer hookups and a covered back patio
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
$18,512
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
6.73%
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%
$370,240
$370.2K
Cap Rate 7%
$264,457
$264.5K
Cap Rate 9%
$205,689
$205.7K
Market Conditions
NOI Build-Up for 1,722 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
$27.9K $16.20/SF
− Vacancy
−$1.5K −$0.84/SF
EGI
$26.4K $15.36/SF
− OpEx
−$7.9K −$4.61/SF
NOI
$18.5K $10.75/SF
Area
Brazos County, 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%
$370,240
Cap Rate 7%
$264,457
Cap Rate 9%
$205,689
Alternative Uses
Best Use
Multifamily LT 5
$264.5K
$231.4K – $308.5K
NOI $18,512 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$236.0K
$206.5K – $275.3K
NOI $16,519 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$424.0K
$371.0K – $494.7K
NOI $29,682 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Explore this area
Business Placement
Demographics for 77801, TX
15,097
Population
7,221
Households
2.1
Avg Household Size
27
Median Age
23%
College-Educated
81%
High-School Grad
3.1 sq mi
ZIP Area
4,870
Density / Sq Mi
$35,575
Median Household Income
$24,587
Median Earnings
$998
Median Rent
$172,200
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 - Well-maintained duplex with two leased units, washer/dryer hookups, and covered back patios.
Where is this duplex located?
The property is located at 3909 Olive St Bryan, TX.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Both units leased: one month‑to‑month and one through April 2027; Full plumbing replacement for both units in April 2026; Each unit includes washer/dryer hookups and a covered back patio
