Three-Unit Apartment
New
For Sale
$225,000
1711 N 3rd St, Abilene, TX 79603
Three one-bedroom apartments with in-unit laundry connections and a mix of central and window air conditioning.
Property Size2,288 SF
Price / SF$98.34
Days on Market2
Property Features for 1711 N 3rd St
General Information
Standard status
Active
Size
2,288 SF
Property subtype
Multi-Family
Building Details
Year Built
1925
Listing Agency:
Absolute Real Estate Mgt.
Listed By:
Tammy Kister · License #0467463
(325) 669-6254
Source:
Tonyaharbin
Added: Sep 15
Last Checked: Sep 15 at 2:27PM
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 Absolute Real Estate Mgt.
Investment Insights
Based on property information with market context.
This triplex contains three one-bedroom, one-bath apartments within a 2,288-square-foot property built in 1925. Each unit includes washer and dryer connections, while two apartments are equipped with central air conditioning and the third uses window air conditioning. Appliances, including the washer and dryer, convey with the sale.
Two apartments provide access to a private backyard. The property is identified by the addresses 1711, 1715, and 1717 N 3rd St in Abilene, Texas. Its three-unit configuration supports an owner-occupancy arrangement with additional apartments available for leasing, or continued use as a multi-unit income property.
Two apartments provide access to a private backyard. The property is identified by the addresses 1711, 1715, and 1717 N 3rd St in Abilene, Texas. Its three-unit configuration supports an owner-occupancy arrangement with additional apartments available for leasing, or continued use as a multi-unit income property.
Key Highlights
- Three one‑bedroom, one‑bath apartments
- 2,288‑square‑foot triplex built in 1925
- Central air conditioning in two units; window unit in the third
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
$18,969
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
8.43%
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%
$379,380
$379.4K
Cap Rate 7%
$270,986
$271.0K
Cap Rate 9%
$210,767
$210.8K
Market Conditions
NOI Build-Up for 2,288 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
$28.8K $12.60/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$27.1K $11.84/SF
− OpEx
−$8.1K −$3.55/SF
NOI
$19.0K $8.29/SF
Area
Abilene, TX
Vacancy
6.00%
Lease Rate
$12.60 /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%
$379,380
Cap Rate 7%
$270,986
Cap Rate 9%
$210,767
Alternative Uses
Best Use
Multifamily LT 5
$271.0K
$237.1K – $316.2K
NOI $18,969 @ 7.0% cap · market cap 8.43%
Second Best
Apartment 5plus
$250.7K
$219.4K – $292.5K
NOI $17,552 @ 7.0% cap · market cap 7.80%
Theoretical Best
Office A
$510.8K
$447.0K – $596.0K
NOI $35,759 @ 7.0% cap · market cap 15.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,407
Businesses Nearby
Explore this area
Business Placement
Demographics for 79603, TX
23,746
Population
9,960
Households
2.4
Avg Household Size
35
Median Age
17%
College-Educated
83%
High-School Grad
59.2 sq mi
ZIP Area
401
Density / Sq Mi
$53,579
Median Household Income
$32,339
Median Earnings
$1,022
Median Rent
$114,000
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?
Triplex - Three one-bedroom apartments with in-unit laundry connections and a mix of central and window air conditioning.
Where is this triplex located?
The property is located at 1711 N 3rd St Abilene, TX.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Three one‑bedroom, one‑bath apartments; 2,288‑square‑foot triplex built in 1925; Central air conditioning in two units; window unit in the third
