Brick Fourplex Near Main
For Sale
$825,000
1405 N Crockett St, Fredericksburg, TX 78624
Four two-bedroom residences with covered onsite parking and access to Fredericksburg schools, shopping, dining, and healthcare.
Property Size3,813 SF
Price / SF$216.37
Days on Market47
Property Features for 1405 N Crockett St
General Information
Standard status
Active
Size
3,813 SF
Property subtype
Multi-Family
Building Details
Year Built
1984
Listing Agency:
Compass RE Texas, LLC - SA
Listed By:
Kimberly Bowling · License #533286
(936) 203-3351
Source:
Sarahildebrandaguilera
Added: Sep 1
Changed: Oct 16
Last Checked: Oct 7 at 2:26PM
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 Compass RE Texas, LLC - SA
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Investment Insights
Based on property information with market context.
Built in 1984, this Fredericksburg fourplex contains four residential units, each configured with two bedrooms and two bathrooms. The property features durable brick exteriors and covered onsite parking, providing a practical multifamily configuration at 1405 N Crockett St.
The property is located minutes from Historic Main Street, with convenient access to schools, shopping, restaurants, medical facilities, entertainment, local employers, and Hill Country wineries. Its four-unit layout provides separate residences within one multifamily asset and supports an income-producing residential use.
The property is located minutes from Historic Main Street, with convenient access to schools, shopping, restaurants, medical facilities, entertainment, local employers, and Hill Country wineries. Its four-unit layout provides separate residences within one multifamily asset and supports an income-producing residential use.
Key Highlights
- Four income‑producing residential units
- Each residence offers 2 bedrooms and 2 bathrooms
- Brick exterior construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,229
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,580
$584.6K
Cap Rate 7%
$417,557
$417.6K
Cap Rate 9%
$324,767
$324.8K
Market Conditions
NOI Build-Up for 3,813 SF
Gross rent
$47.1K $12.36/SF
− Vacancy
−$5.4K −$1.41/SF
EGI
$41.8K $10.95/SF
− OpEx
−$12.5K −$3.29/SF
NOI
$29.2K $7.67/SF
Area
Gillespie County, TX
Vacancy
11.40%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,580
Cap Rate 7%
$417,557
Cap Rate 9%
$324,767
Alternative Uses
Best Use
Multifamily LT 5
$417.6K
$365.4K – $487.2K
NOI $29,229 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$382.8K
$335.0K – $446.6K
NOI $26,797 @ 7.0% cap · market cap 3.25%
Theoretical Best
Hotel Hospitality
$2.89M
$2.53M – $3.37M
NOI $202,127 @ 7.0% cap · market cap 24.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 78624, TX
23,080
Population
12,421
Households
1.9
Avg Household Size
52
Median Age
37%
College-Educated
89%
High-School Grad
742.3 sq mi
ZIP Area
31
Density / Sq Mi
$67,987
Median Household Income
$37,047
Median Earnings
$1,347
Median Rent
$439,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom residences with covered onsite parking and access to Fredericksburg schools, shopping, dining, and healthcare.
Where is this quadplex located?
The property is located at 1405 N Crockett St Fredericksburg, TX.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four income‑producing residential units; Each residence offers 2 bedrooms and 2 bathrooms; Brick exterior construction
