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    Brand-New Duplex Investment Title is generated by Realmo AI

    1512 Cherry Street, Pecos, TX 79772

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    Pending
    $258,000

    MULTI_FAMILY - Pecos, TX

    Property size:
    2,254 SF
    Lot size:
    0.15 Acres
    Added:
    Sep 30, 2024
    Days on Market:
    613
    Last Refresh:
    Jun 4 at 6:06 am

    Property Features for 1512 Cherry Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    2
    Rooms
    Bedroom 1, Bedroom 6, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 5, Bathroom 1
    Parking
    6
    Parking features
    Garage, Assigned
    Patio and Porch features
    Patio
    Interior features
    CableTv
    Appliances
    Dishwasher, ElectricRange, Disposal, Refrigerator, VentedExhaustFan
    Standard status
    Pending
    APN
    R000002338
    Size
    2,254 SF
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3800

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    2018
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Tile
    Building materials
    Concrete, Rock, Stone, Stucco, WoodSiding
    Roof type
    Composition

    We can help!

    Listing Contact
    Paul Waddell

    Listing agent Paul Waddell

    Listing office Hatchett & Company Real Estate Abilene, TX

    Listing date Sep 30, 2024

    MLS# 13758476 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Newer duplex construction with Year Built 2018 and concrete/stone/stucco/wood siding materials
    • Each unit offers 3 bedrooms, 2 bathrooms, and 1,127 SF of living space
    • Current rent stated as $1,650 per unit
    • Development status in remarks: 14 duplexes already on the ground with 32 remaining
    • Central heating and central air with electric HVAC, plus ceiling fans
    • Utilities: public water and public sewer; roof is composition

    Overview

    A new duplex investment opportunity in Pecos with multiple units underway. The offering includes 14 duplexes already on the ground and 32 remaining, with seller cooperation available for a 1031 exchange. Each unit is a 3-bedroom, 2-bath layout measuring 1,127 square feet, currently projected to rent for $1,650 per unit.

    The property is located within city limits at 1512 Cherry Street in Pecos, Texas, in Reeves County. The land area is listed at 0.15 acres.

    This package is well suited for investors looking for turn-key, income-producing duplex dwellings with a consistent unit mix. With the majority of the development already started, buyers may find it attractive for scaling a rental portfolio while keeping unit design uniform across the duplex homes. The seller’s willingness to support a 1031 exchange may also appeal to qualified investors seeking a structured path to reinvest proceeds into additional real estate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pecos
    County
    Reeves
    State
    Texas
    Longitude
    -103.497332
    Latitude
    31.410375

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    FAQs

    What type of property is this?
    Duplex - New duplex units in Pecos, offering a straightforward 3-bedroom, 2-bath rental setup in city limits.
    Where is this duplex located?
    The property is located at 1512 Cherry Street Pecos, TX.
    What is the asking price?
    The asking price for this property is $258,000.
    What are key features of this property?
    This property features: Newer duplex construction with Year Built 2018 and concrete/stone/stucco/wood siding materials; Each unit offers 3 bedrooms, 2 bathrooms, and 1,127 SF of living space; Current rent stated as $1,650 per unit
    (325) 695-7300
    We can help!
    Listing Contact
    Paul Waddell
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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