San Angelo, Texas Rental
For Sale
$578,770
1968 Colorado Avenue, San Angelo, TX 76901
Residential Income, San Angelo, TX
Property Size840 SF
Lot Size0.13 Acres
Price / SF$689.01
Days on Market113
Property Features for 1968 Colorado Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential Lot
Bedrooms
13
Rooms
Bedroom 11, Bedroom 10, Bedroom 5, Bedroom 9, Bedroom 6, Bedroom 12, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 13, Bedroom 2, Bedroom 7, Bedroom 8
Elementary school
Santa Rita
Middle school
Lone Star
High school
Central
Subdivision
E
Standard status
Active
APN
R000012187
Size
840 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
Acres: 0.130 Blk: 3 Subd: Miller V E Of Garrett Adn East 1/2 Of Lots 13 & 14
Legal Description
Acres: 0.130 Blk: 3 Subd: Miller V E Of Garrett Adn East 1/2 Of Lots 13 & 14
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1959
Number of units
5
Listing Agency:
ERA Newlin & Company · ERA Real Estate
(325) 481-0500
Listed By:
Jeff Hameister · License #0594810
(325) 374-1737
Added: Jul 2
Changed: Oct 8
Last Checked: Oct 22 at 7:06PM
MLS# 200979
Copyright © 2026 San Angelo Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This residential investment portfolio in San Angelo, Texas, features five income-producing single-family homes. The properties have established rental history and strong occupancy demand. This package offers the opportunity to acquire stabilized assets with immediate income, while benefiting from long-term appreciation in one of West Texas's most resilient rental markets. The properties are located in San Angelo, Texas. The lot size is 0.13 acres. The property size is 840 square feet.
Key Highlights
- Investment portfolio in San Angelo, Texas featuring five income‑producing single‑family homes with established rental history
- Five single‑family homes included in the package with established rental history and strong occupancy demand
- Public utilities: water available with public water and public sewer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,469
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$829,380
$829.4K
Cap Rate 7%
$592,414
$592.4K
Cap Rate 9%
$460,767
$460.8K
Market Conditions
NOI Build-Up for 840 SF
Gross rent
$85.7K $102.00/SF
− Vacancy
−$10.3K −$12.24/SF
EGI
$75.4K $89.76/SF
− OpEx
−$33.9K −$40.39/SF
NOI
$41.5K $49.37/SF
Area
Tom Green County, TX
Vacancy
12.00%
Lease Rate
$102.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$829,380
Cap Rate 7%
$592,414
Cap Rate 9%
$460,767
Alternative Uses
Best Use
Apartment 5plus
$592.4K
$518.4K – $691.2K
NOI $41,469 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$643.0K
$562.7K – $750.2K
NOI $45,012 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
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Business Placement
Demographics for 76901, TX
31,084
Population
13,783
Households
2.3
Avg Household Size
37
Median Age
23%
College-Educated
88%
High-School Grad
346.0 sq mi
ZIP Area
90
Density / Sq Mi
$64,542
Median Household Income
$35,343
Median Earnings
$1,188
Median Rent
$169,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Single family property - Cash-flowing residential investment portfolio in San Angelo, Texas.
Where is this single family property located?
The property is located at 1968 Colorado Avenue San Angelo, TX.
What is the asking price?
The asking price for this property is $578,770.
What are key features of this property?
This property features: Investment portfolio in San Angelo, Texas featuring five income‑producing single‑family homes with established rental history; Five single‑family homes included in the package with established rental history and strong occupancy demand; Public utilities: water available with public water and public sewer
