Duplex with
For Sale
$264,900
1523 Pine Ridge Drive, College Station, TX 77840
MULTI_FAMILY - College Station, TX
Property Size1,623 SF
Lot Size0.16 Acres
Price / SF$163.22
Days on Market19
Property Features for 1523 Pine Ridge Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
C06
Parking
4
Patio and Porch features
Patio
Exterior features
Patio
Subdivision
Parkway Plaza
Elementary school district
College Station
Middle school district
College Station
High school district
College Station
Directions
From Texas Avenue going north turn left onto Brentwood, turn right onto Pine Ridge, duplex will be on the right
Standard status
Active
APN
1523 Pine Ridge C06
Size
1,623 SF
Lot size
0.16 Acres
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air, Electric
Building Details
Year built
1978
Floors in Building
1
Number of units
1
Flooring type
Tile, Carpet, Vinyl
Roof type
Composition, Shingle
Listing Agency:
Keller Williams Realty Brazos Valley office
(979) 693-9100
Listed By:
Bradley Corrier
(979) 693-9100
Added: Jul 22
Changed: Aug 2
Last Checked: Aug 9 at 11:06PM
MLS# 26009354
Copyright © 2026 Bryan-College Station Regional MLS. 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.
This duplex offers 2-bedroom, 1-bath units in good overall condition, currently fully leased. Built in 1978, the property includes a patio and a mix of tile, carpet, and vinyl flooring. Heating is central with natural gas, and cooling is central air with electric support. The roof is composition/shingle.
The property is located at 1523 Pine Ridge Drive in College Station, within one block of a TAMU shuttle bus stop and a short bike ride to campus. The surrounding area includes access to retail, restaurants, and parks, and the area has been re-zoned to higher density development, which may support redevelopment into a fourplex and additional bedroom count.
Zoned C06, this site sits on a 0.1584-acre lot and totals 1,623 square feet.
The property is located at 1523 Pine Ridge Drive in College Station, within one block of a TAMU shuttle bus stop and a short bike ride to campus. The surrounding area includes access to retail, restaurants, and parks, and the area has been re-zoned to higher density development, which may support redevelopment into a fourplex and additional bedroom count.
Zoned C06, this site sits on a 0.1584-acre lot and totals 1,623 square feet.
Key Highlights
- 0.1584‑acre duplex site in College Station zoned C06
- 1,623 SF duplex built in 1978 with patio
- Two‑bedroom, one‑bath units in good overall condition and fully leased
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
$17,448
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
6.59%
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%
$348,960
$349.0K
Cap Rate 7%
$249,257
$249.3K
Cap Rate 9%
$193,867
$193.9K
Market Conditions
NOI Build-Up for 1,623 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
$26.3K $16.20/SF
− Vacancy
−$1.4K −$0.84/SF
EGI
$24.9K $15.36/SF
− OpEx
−$7.5K −$4.61/SF
NOI
$17.4K $10.75/SF
Area
College Station, TX
Vacancy
5.20%
Lease Rate
$16.20 /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%
$348,960
Cap Rate 7%
$249,257
Cap Rate 9%
$193,867
Alternative Uses
Best Use
Multifamily LT 5
$249.3K
$218.1K – $290.8K
NOI $17,448 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$222.4K
$194.6K – $259.5K
NOI $15,570 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$399.6K
$349.7K – $466.3K
NOI $27,975 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Explore this area
Business Placement
Demographics for 77840, TX
55,180
Population
25,423
Households
2.2
Avg Household Size
25
Median Age
46%
College-Educated
91%
High-School Grad
10.0 sq mi
ZIP Area
5,518
Density / Sq Mi
$31,278
Median Household Income
$14,521
Median Earnings
$1,085
Median Rent
$241,000
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 - Duplex featuring a patio and 2-bedroom, 1-bath units in good condition that are fully leased.
Where is this duplex located?
The property is located at 1523 Pine Ridge Drive College Station, TX.
What is the asking price?
The asking price for this property is $264,900.
What are key features of this property?
This property features: 0.1584‑acre duplex site in College Station zoned C06; 1,623 SF duplex built in 1978 with patio; Two‑bedroom, one‑bath units in good overall condition and fully leased
