10-Unit Duplex
For Sale
$1,750,000
1701-1803 Johnson Street, Marble Falls, TX 78654
Residential Income, Marble Falls, TX
Property Size8,658 SF
Lot Size1.17 Acres
Price / SF$202.13
Days on Market180
Property Features for 1701-1803 Johnson Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Appliances
Dishwasher, Electric Range, Electric Water Heater
Subdivision
Mrbl Falls City
Elementary school district
Marble Falls
Middle school district
Marble Falls
High school district
Marble Falls
Directions
AVOID AVENUE N! FROM JOHNSON PARK, FOLLOW AVENUE J. MAKE A RIGHT ON JOHNSON STREET. ALL BUILDINGS ARE ON YOUR RIGHT - NO SIGN. DO NOT DISTURB TENANTS.
Standard status
Active
APN
063954
Size
8,658 SF
Lot size
1.17 Acres
Taxes and HOA fees
Tax Description
SEE SPECIAL PROVISIONS
Legal Description
SEE SPECIAL PROVISIONS
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
attached garages
fenced yards
Building Details
Year built
1997
Number of units
4
Flooring type
Laminate
Building materials
Steel Frame, HardiPlank Type, Wood Siding
Roof type
Metal
Listing Agency:
My Texas Home Broker
(830) 201-4049
Listed By:
Kristen Ribera · License #0687060
(512) 779-3332
Added: Apr 2
Changed: Aug 19
Last Checked: Sep 28 at 4:06AM
MLS# 177327
Copyright © 2026 Highland Lakes Association of Realtors 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 property comprises five single-story buildings with 10 total units and 8,658 square feet of building area on 1.17 acres. Every residence is configured with two bedrooms and two bathrooms, with laminate flooring, central heating and cooling, dishwashers, electric ranges, and electric water heaters. Construction includes steel framing, HardiPlank Type, and wood siding. The property was built in 1997 and has public water, public sewer, and metal roofing.
Units 1803 A and B include attached garages and fenced yards, while units 1701 through 1707 each have two designated paved parking spaces. The metal roofs were replaced in August 2025. All 10 units are occupied and professionally managed by TJM Property Management. Tenants handle utilities and trash. The property is located between Westside Park and Johnson Park in Marble Falls, Texas.
Units 1803 A and B include attached garages and fenced yards, while units 1701 through 1707 each have two designated paved parking spaces. The metal roofs were replaced in August 2025. All 10 units are occupied and professionally managed by TJM Property Management. Tenants handle utilities and trash. The property is located between Westside Park and Johnson Park in Marble Falls, Texas.
Key Highlights
- 10 units across five single‑story duplex buildings
- 1.17‑acre property with 8,658 square feet of building area
- Each unit includes 2 bedrooms and 2 bathrooms
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
$85,300
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
4.87%
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%
$1,706,000
$1.7M
Cap Rate 7%
$1,218,571
$1.2M
Cap Rate 9%
$947,778
$947.8K
Market Conditions
NOI Build-Up for 8,658 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
$129.9K $15.00/SF
− Vacancy
−$8.0K −$0.93/SF
EGI
$121.9K $14.07/SF
− OpEx
−$36.6K −$4.22/SF
NOI
$85.3K $9.85/SF
Area
Burnet County, TX
Vacancy
6.17%
Lease Rate
$15.00 /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%
$1,706,000
Cap Rate 7%
$1,218,571
Cap Rate 9%
$947,778
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,300 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$1.12M
$981.8K – $1.31M
NOI $78,540 @ 7.0% cap · market cap 4.49%
Theoretical Best
Hotel Hospitality
$6.52M
$5.71M – $7.61M
NOI $456,493 @ 7.0% cap · market cap 26.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
Explore this area
Business Placement
Demographics for 78654, TX
19,698
Population
9,764
Households
2
Avg Household Size
45
Median Age
33%
College-Educated
89%
High-School Grad
201.3 sq mi
ZIP Area
98
Density / Sq Mi
$72,669
Median Household Income
$37,391
Median Earnings
$1,404
Median Rent
$315,200
Median Home Value
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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 - Five single-story buildings offer occupied two-bedroom, two-bath units with public water and sewer service.
Where is this duplex located?
The property is located at 1701-1803 Johnson Street Marble Falls, TX.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 10 units across five single‑story duplex buildings; 1.17‑acre property with 8,658 square feet of building area; Each unit includes 2 bedrooms and 2 bathrooms
