Two-Unit
For Sale
$234,900
1437 NW 17TH Avenue, Amarillo, TX 79107
MultiFamily, Amarillo, TX
Property Size1,993 SF
Price / SF$117.86
Days on Market90
Property Features for 1437 NW 17TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
0100 - NW Amarillo in City Limits
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 4, Bathroom 4, Bathroom 2, Bedroom 6, Bedroom 1, Bedroom 3, Bedroom 5
Appliances
Refrigerator, Range, Microwave, Dishwasher
Directions
WASHINGTON ST N FROM BLVD TO 17TH THEN LEFT
Subdivision
0120 - North Heights
Standard status
Active
APN
188580
Size
1,993 SF
Taxes and HOA fees
Tax Description
UNIVERSITY HEIGHTS, BLK 0016, LOTS 19 AND 20, 0.1600 ACRES
Legal Description
UNIVERSITY HEIGHTS, BLK 0016, LOTS 19 AND 20, 0.1600 ACRES
Utilities
Cooling system
Electric
Building Details
Year built
2022
Number of units
2
Roof type
Composition
Listing Agency:
Absolute Real Estate
(806) 433-3277
Listed By:
Deborah Kelly · License #0467226
(806) 359-0468
Added: Jun 19
Changed: Sep 12
Last Checked: Sep 16 at 6:06AM
MLS# 26-4260
Copyright © 2026 Amarillo Association of REALTORS. 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.
The 1,993-square-foot duplex was completed in 2022 and contains two residences, each with three bedrooms and two bathrooms. Both units feature solid-surface flooring, connected living, dining, and kitchen areas, pantry storage, and hallway utility space. Kitchens are equipped with refrigerators, ranges, built-in microwaves, and dishwashers, while washer and dryer hookups are positioned in hallway closets. Electric cooling and composition roofing are also documented.
One residence is occupied and the other is vacant. The property is located at 1437 NW 17th Avenue in Amarillo, Texas, within Potter County.
One residence is occupied and the other is vacant. The property is located at 1437 NW 17th Avenue in Amarillo, Texas, within Potter County.
Key Highlights
- 1,993‑square‑foot duplex completed in 2022
- Two residences, each with 3 bedrooms and 2 bathrooms
- One unit occupied; the second unit is vacant
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
6.40%
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 6.40%
Second Best
Apartment 5plus
$188.8K
$165.2K – $220.3K
NOI $13,218 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$445.0K
$389.4K – $519.1K
NOI $31,148 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
80
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Completed in 2022, the property offers open-plan interiors, laundry hookups, and equipped kitchens in both residences.
Where is this duplex located?
The property is located at 1437 NW 17TH Avenue Amarillo, TX.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: 1,993‑square‑foot duplex completed in 2022; Two residences, each with 3 bedrooms and 2 bathrooms; One unit occupied; the second unit is vacant
