Renovated Home with Retail
New
For Sale
$374,000
1606 S 31st St, Temple, TX 76504
Move-in ready 3-bedroom, 1-bath property configured for short-term rental and general retail use across from a medical complex.
Days on Market6
Property Features for 1606 S 31st St
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Building Size
1,144 SF
Year Built
1952
Listing Agency:
Ashby Real Estate Group
(254) 773-0246
Listed By:
Jimmy Morales · License #0737684
(254) 773-0246
Source:
Elliman
Added: Jul 25
Changed: Jul 27
Last Checked: Jul 29 at 10:53AM
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 Ashby Real Estate Group
Investment Insights
Based on property information with market context.
1606 S. 31st St. is a move-in ready, renovated property featuring a 3-bedroom, 1-bath layout with updates throughout. The home includes a washer/dryer, stove with double oven, new refrigerator, and dishwasher that convey with the property. Additional improvements noted include a new Lennox HVAC system and a completely modernized bathroom.
The property is located in the Temple Medical and Educational District and is directly across from the Baylor Scott & White medical complex. Public remarks also describe the site as being in an area with high traffic and high visibility, and within walking distance to local businesses, shops, restaurants, and daily conveniences.
According to the available information, the configuration supports both residential living for short-term rental and general retail use. It is also described as well suited for uses such as an administrative business office, attorney, medical/dental, real estate office, private studio, rental income, and a boutique or eatery concept. The property is offered for sale, and it is described as available for lease immediately as well.
The property is located in the Temple Medical and Educational District and is directly across from the Baylor Scott & White medical complex. Public remarks also describe the site as being in an area with high traffic and high visibility, and within walking distance to local businesses, shops, restaurants, and daily conveniences.
According to the available information, the configuration supports both residential living for short-term rental and general retail use. It is also described as well suited for uses such as an administrative business office, attorney, medical/dental, real estate office, private studio, rental income, and a boutique or eatery concept. The property is offered for sale, and it is described as available for lease immediately as well.
Key Highlights
- 1952‑built, move‑in ready 3‑bedroom, 1‑bath property configured for short‑term rental and general retail use
- Located across from the Baylor Scott & White Medical complex in the Temple Medical/Educational District
- New Lennox brand HVAC and a completely modernized bathroom
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.1k | $30.72 |
| − Vacancy | −$9.6k | −$8.42 |
| EGI | $25.5k | $22.30 |
| − OpEx | −$6.4k | −$5.58 |
| NOI | $19.1k | $16.73 |
1,144 SF · lease $30.72/SF/yr · vacancy 27.40% · expense 25.00%
Alternative Uses
Best Use
Apartment 5plus
$11.70M
$10.24M – $13.65M
NOI $819,249 @ 7.0% cap · market cap 219.05%
Second Best
Office B
$273.4K
$239.2K – $318.9K
NOI $19,136 @ 7.0% cap · market cap 5.12%
Theoretical Best
Multifamily LT 5
$12.77M
$11.17M – $14.90M
NOI $893,981 @ 7.0% cap · market cap 239.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Explore this area
Business Placement
Demographics for 76504, TX
24,682
Population
11,068
Households
2.2
Avg Household Size
36
Median Age
20%
College-Educated
84%
High-School Grad
30.8 sq mi
ZIP Area
801
Density / Sq Mi
$50,420
Median Household Income
$35,753
Median Earnings
$1,106
Median Rent
$162,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Move-in ready 3-bedroom, 1-bath property configured for short-term rental and general retail use across from a medical complex.
Where is this short term rental property located?
The property is located at 1606 S 31st St Temple, TX.
What is the asking price?
The asking price for this property is $374,000.
What are key features of this property?
This property features: 1952‑built, move‑in ready 3‑bedroom, 1‑bath property configured for short‑term rental and general retail use; Located across from the Baylor Scott & White Medical complex in the Temple Medical/Educational District; New Lennox brand HVAC and a completely modernized bathroom
