Remodeled Duplex With Rental
For Sale
$239,900
1408 Southwest 12th Avenue, Amarillo, TX 79102
Two updated homes provide separate living spaces with split utilities and current rental occupancy.
Property Size1,770 SF
Price / SF$135.54
Days on Market277
Property Features for 1408 Southwest 12th Avenue
General Information
Standard status
Active
Size
1,770 SF
Property subtype
MultiFamily
Amenities
Yes, Central Air
Yes
Built Up, Composition
Siding, Frame
Building Details
Year Built
1964
Listing Agency:
Amarillo's Parkview Realty, LLC
(806) 584-2397
Listed By:
John Broadfoot Jr., L.L.C. · License #0467266
(806) 584-2397
Source:
Compass
Added: Nov 28, 2025
Changed: Aug 30
Last Checked: Aug 31 at 10:06PM
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 Amarillo's Parkview Realty, LLC
Investment Insights
Based on property information with market context.
This duplex property includes two separate homes totaling 1,770 square feet. The front residence offers three bedrooms, two full bathrooms, one-car parking, central heat and air, siding, and frame construction. Improvements include remodeled interiors, new paint, flooring, kitchen cabinets, a water heater, water lines, gas lines, and sewer service. The rear residence is a one-bedroom, all-electric home with siding, updated water lines, kitchen cabinets, driveway improvements, and a new sewer line. Both residences are rented, and utilities are split between the properties.
Built in 1964, the property is located at 1408 Southwest 12th Avenue in Amarillo, Texas. The two-home configuration provides distinct residential spaces within one duplex asset, with updates completed across both residences.
Built in 1964, the property is located at 1408 Southwest 12th Avenue in Amarillo, Texas. The two-home configuration provides distinct residential spaces within one duplex asset, with updates completed across both residences.
Key Highlights
- Two‑home duplex totaling 1,770 square feet
- Front home has 3 bedrooms, 2 full baths, central heat and air, and 1‑car parking
- Rear residence is a 1‑bedroom, all‑electric home
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
$13,348
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
5.56%
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%
$266,960
$267.0K
Cap Rate 7%
$190,686
$190.7K
Cap Rate 9%
$148,311
$148.3K
Market Conditions
NOI Build-Up for 1,770 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
$20.2K $11.40/SF
− Vacancy
−$1.1K −$0.63/SF
EGI
$19.1K $10.77/SF
− OpEx
−$5.7K −$3.23/SF
NOI
$13.3K $7.54/SF
Area
Amarillo, TX
Vacancy
5.50%
Lease Rate
$11.40 /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%
$266,960
Cap Rate 7%
$190,686
Cap Rate 9%
$148,311
Alternative Uses
Best Use
Multifamily LT 5
$190.7K
$166.9K – $222.5K
NOI $13,348 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$167.7K
$146.7K – $195.7K
NOI $11,739 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$395.2K
$345.8K – $461.1K
NOI $27,663 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
916
Businesses Nearby
Explore this area
Business Placement
Demographics for 79102, TX
9,252
Population
4,695
Households
2
Avg Household Size
35
Median Age
20%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
3,427
Density / Sq Mi
$48,551
Median Household Income
$34,911
Median Earnings
$891
Median Rent
$146,500
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 - Two updated homes provide separate living spaces with split utilities and current rental occupancy.
Where is this duplex located?
The property is located at 1408 Southwest 12th Avenue Amarillo, TX.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two‑home duplex totaling 1,770 square feet; Front home has 3 bedrooms, 2 full baths, central heat and air, and 1‑car parking; Rear residence is a 1‑bedroom, all‑electric home
