Duplex with Two
For Sale
$379,000
138 138-A Watson Lane, Bryan, TX 77801
Multi-Family, Bryan, TX
Property Size2,168 SF
Lot Size0.33 Acres
Price / SF$174.82
Days on Market10
Property Features for 138 138-A Watson Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B09
Parking
6
Parking features
Paved or Surfaced, Covered
Exterior features
Storage Shed
Subdivision
Hansen-Zak
Elementary school district
Bryan
Middle school district
Bryan
High school district
Bryan
Directions
From W. Villa Maria Road, turn onto S. College Avenue and in .2 miles, turn right onto Watson Lane. Property will be on the right.
Standard status
Active
APN
138, 138-A Watson B09
Size
2,168 SF
Lot size
0.33 Acres
Utilities
Heating system
Natural Gas, Central, Electric (Heating)
Cooling system
Electric, Central Air
Amenities
garage
storage shed
fenced yard
Building Details
Year built
1945
Floors in Building
1
Number of units
2
Flooring type
Laminate
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Polansky Realty
(979) 567-3508
Listed By:
Maureen Ramirez · License #0652541
(979) 446-1108
Added: Sep 9
Changed: Sep 13
Last Checked: Sep 18 at 11:06PM
MLS# 26011086
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 duplex property combines two distinct residences totaling 2,168 square feet. The improvements include a 1945 frame home with 3 bedrooms and 1 bathroom, plus a separate 2021 mobile home offering 3 bedrooms and 2 bathrooms. Together, the residences provide 6 bedrooms and 3 bathrooms, with laminate flooring, central air, and natural-gas and electric heating systems.
Additional site improvements include a 21X30 two-car garage with covered parking and storage, a 12X24 storage shed, and paved or surfaced off-street parking. The rear yard is fenced, and the property is located in Bryan near Texas A&M, Rellis Campus, dining, shopping, and major thoroughfares.
Additional site improvements include a 21X30 two-car garage with covered parking and storage, a 12X24 storage shed, and paved or surfaced off-street parking. The rear yard is fenced, and the property is located in Bryan near Texas A&M, Rellis Campus, dining, shopping, and major thoroughfares.
Key Highlights
- Two separate residences with 6 bedrooms and 3 bathrooms combined
- 1945 frame home with 3 bedrooms and 1 bathroom
- 2021 mobile home with 3 bedrooms and 2 bathrooms
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
$23,307
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
6.15%
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%
$466,140
$466.1K
Cap Rate 7%
$332,957
$333.0K
Cap Rate 9%
$258,967
$259.0K
Market Conditions
NOI Build-Up for 2,168 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
$35.1K $16.20/SF
− Vacancy
−$1.8K −$0.84/SF
EGI
$33.3K $15.36/SF
− OpEx
−$10.0K −$4.61/SF
NOI
$23.3K $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%
$466,140
Cap Rate 7%
$332,957
Cap Rate 9%
$258,967
Alternative Uses
Best Use
Multifamily LT 5
$333.0K
$291.3K – $388.5K
NOI $23,307 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$297.1K
$260.0K – $346.6K
NOI $20,798 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$533.8K
$467.1K – $622.8K
NOI $37,369 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
502
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate homes share covered parking, paved off-street parking, and fenced storage improvements.
Where is this duplex located?
The property is located at 138 138-A Watson Lane Bryan, TX.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Two separate residences with 6 bedrooms and 3 bathrooms combined; 1945 frame home with 3 bedrooms and 1 bathroom; 2021 mobile home with 3 bedrooms and 2 bathrooms
