2022-Built Duplex with Matched
For Sale
$259,900
1423 NW 16TH Avenue, Amarillo, TX 79107
Two like-sized residences offer three-bedroom layouts, updated finishes, and separate kitchen and utility features.
Property Size1,993 SF
Price / SF$130.41
Days on Market48
Property Features for 1423 NW 16TH Avenue
General Information
Standard status
Active
Size
1,993 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
W/D hookups
Building Details
Year Built
2022
Listing Agency:
Absolute Real Estate
(806) 433-3277
Listed By:
Deborah Kelly · License #KED
Source:
Choosemeraki
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 29 at 2:05PM
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 Absolute Real Estate
Investment Insights
Based on property information with market context.
Built in 2022, this duplex contains two residential units with a combined property size of 1,993 square feet. Each residence includes three bedrooms and two bathrooms, along with an open arrangement connecting the living, dining, and kitchen areas. Solid-surface flooring extends throughout both units, while hallway utility spaces include washer and dryer hookups and pantry storage.
Each kitchen is equipped with a built-in microwave, dishwasher, refrigerator, and stove. The property is located at 1423 NW 16th Avenue in Amarillo, Texas, providing a two-unit configuration suited to residential income ownership or an owner-occupant arrangement.
Each kitchen is equipped with a built-in microwave, dishwasher, refrigerator, and stove. The property is located at 1423 NW 16th Avenue in Amarillo, Texas, providing a two-unit configuration suited to residential income ownership or an owner-occupant arrangement.
Key Highlights
- Duplex built in 2022
- Two units, each with 3 bedrooms and 2 bathrooms
- Combined property size of 1,993 square feet
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
$15,029
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
5.78%
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%
$300,580
$300.6K
Cap Rate 7%
$214,700
$214.7K
Cap Rate 9%
$166,989
$167.0K
Market Conditions
NOI Build-Up for 1,993 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
$22.7K $11.40/SF
− Vacancy
−$1.2K −$0.63/SF
EGI
$21.5K $10.77/SF
− OpEx
−$6.4K −$3.23/SF
NOI
$15.0K $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%
$300,580
Cap Rate 7%
$214,700
Cap Rate 9%
$166,989
Alternative Uses
Best Use
Multifamily LT 5
$214.7K
$187.9K – $250.5K
NOI $15,029 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$188.8K
$165.2K – $220.3K
NOI $13,218 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$445.0K
$389.4K – $519.1K
NOI $31,148 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Explore this area
Business Placement
Demographics for 79107, TX
37,480
Population
12,346
Households
3
Avg Household Size
34
Median Age
6%
College-Educated
61%
High-School Grad
19.6 sq mi
ZIP Area
1,912
Density / Sq Mi
$39,474
Median Household Income
$28,084
Median Earnings
$1,016
Median Rent
$88,400
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 like-sized residences offer three-bedroom layouts, updated finishes, and separate kitchen and utility features.
Where is this duplex located?
The property is located at 1423 NW 16TH Avenue Amarillo, TX.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Duplex built in 2022; Two units, each with 3 bedrooms and 2 bathrooms; Combined property size of 1,993 square feet
