Duplex With Vacant
New
For Sale
$364,900
1902 Nicole Cir, Round Rock, TX 78664
One side is vacant and available for owner occupancy or leasing.
Property Size1,608 SF
Price / SF$226.93
Days on Market7
Property Features for 1902 Nicole Cir
General Information
Standard status
Active
Size
1,608 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1979
Listing Agency:
Westbank Realty
Listed By:
David Johnson (512) 444-1300 · License #0436070
(512) 444-1300
Source:
Muzzypropertygroup
Added: Sep 1
Changed: Sep 6
Last Checked: Sep 6 at 9:18AM
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 Westbank Realty
Investment Insights
Based on property information with market context.
This duplex contains 1,608 square feet and was built in 1979. Side B is currently vacant, providing an option for owner occupancy or a new lease. The property is located at 1902 Nicole Cir in Round Rock, Texas.
Key Highlights
- Duplex with 1,608 square feet
- Side B currently vacant
- Built in 1979
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
$16,539
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
4.53%
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%
$330,780
$330.8K
Cap Rate 7%
$236,271
$236.3K
Cap Rate 9%
$183,767
$183.8K
Market Conditions
NOI Build-Up for 1,608 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
$27.4K $17.04/SF
− Vacancy
−$3.8K −$2.35/SF
EGI
$23.6K $14.69/SF
− OpEx
−$7.1K −$4.41/SF
NOI
$16.5K $10.29/SF
Area
Round Rock, TX
Vacancy
13.77%
Lease Rate
$17.04 /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%
$330,780
Cap Rate 7%
$236,271
Cap Rate 9%
$183,767
Alternative Uses
Best Use
Multifamily LT 5
$236.3K
$206.7K – $275.7K
NOI $16,539 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$207.4K
$181.5K – $242.0K
NOI $14,518 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$509.4K
$445.7K – $594.3K
NOI $35,659 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,112
Businesses Nearby
Explore this area
Business Placement
Demographics for 78664, TX
60,287
Population
24,259
Households
2.5
Avg Household Size
34
Median Age
35%
College-Educated
90%
High-School Grad
16.6 sq mi
ZIP Area
3,632
Density / Sq Mi
$85,919
Median Household Income
$45,700
Median Earnings
$1,645
Median Rent
$317,400
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 - One side is vacant and available for owner occupancy or leasing.
Where is this duplex located?
The property is located at 1902 Nicole Cir Round Rock, TX.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: Duplex with 1,608 square feet; Side B currently vacant; Built in 1979
