Renovated Multifamily
For Sale
$92,000
1309-1311 Hickory Street, Jourdanton, TX 78026
Multifamily property featuring updated mechanical, flooring, and bathroom improvements.
Property Size784 SF
Price / SF$117.35
Days on Market1111
Property Features for 1309-1311 Hickory Street
General Information
Standard status
Active
Size
784 SF
Property subtype
Multi-Family / One Story
Taxes and HOA fees
Annual Taxes
$1,992
Amenities
Linoleum
Composition
Conventional, Cash
Not Applicable/None
Building Details
Year Built
1989
Listing Agency:
Dowdy Real Estate, LLC
Listed By:
Donna Blue
(210) 275-8019
Source:
Compass
Added: Aug 24, 2023
Changed: Aug 31
Last Checked: Aug 29 at 7:39PM
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 Dowdy Real Estate, LLC
Investment Insights
Based on property information with market context.
This multifamily property at 1309-1311 Hickory Street was built in 1989 and includes a new central unit, replacement flooring, and renovated bathrooms. Linoleum is listed among the interior finishes, while the exterior includes composition materials.
The property is located in Jourdanton, Texas, with an income-producing use identified in the property information. Existing improvements and recent updates provide a defined starting point for continued residential income use.
The property is located in Jourdanton, Texas, with an income-producing use identified in the property information. Existing improvements and recent updates provide a defined starting point for continued residential income use.
Key Highlights
- Multifamily property at 1309‑1311 Hickory Street, Jourdanton, TX 78026
- Built in 1989
- New central unit
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
$5,328
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
5.79%
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%
$106,560
$106.6K
Cap Rate 7%
$76,114
$76.1K
Cap Rate 9%
$59,200
$59.2K
Market Conditions
NOI Build-Up for 784 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
$11.0K $14.04/SF
− Vacancy
−$1.3K −$1.68/SF
EGI
$9.7K $12.36/SF
− OpEx
−$4.4K −$5.56/SF
NOI
$5.3K $6.80/SF
Area
Atascosa County, TX
Vacancy
12.00%
Lease Rate
$14.04 /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%
$106,560
Cap Rate 7%
$76,114
Cap Rate 9%
$59,200
Alternative Uses
Best Use
Apartment 5plus
$76.1K
$66.6K – $88.8K
NOI $5,328 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$590.5K
$516.7K – $688.9K
NOI $41,336 @ 7.0% cap · market cap 44.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
Explore this area
Business Placement
Demographics for 78026, TX
6,181
Population
2,926
Households
2.1
Avg Household Size
39
Median Age
23%
College-Educated
82%
High-School Grad
355.7 sq mi
ZIP Area
17
Density / Sq Mi
$77,257
Median Household Income
$56,295
Median Earnings
$959
Median Rent
$151,700
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?
Multifamily property - Multifamily property featuring updated mechanical, flooring, and bathroom improvements.
Where is this multifamily property located?
The property is located at 1309-1311 Hickory Street Jourdanton, TX.
What is the asking price?
The asking price for this property is $92,000.
What are key features of this property?
This property features: Multifamily property at 1309‑1311 Hickory Street, Jourdanton, TX 78026; Built in 1989; New central unit
