Duplex with One Vacant
For Sale
$325,000
201 W Mink Street, Willis, TX 77378
Both residences offer three bedrooms, two full baths, and separate laundry hookups.
Property Size2,600 SF
Price / SF$125
Days on Market105
Property Features for 201 W Mink Street
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,781
Amenities
Laminate
Yes
2
3
Window Coverings
Washer Hookup,Dryer Hookup
Appraiser
Granite Counters,Window Treatments,Ceiling Fan(s)
Partial
Near Public Transit
6874
Two
Private Entrance
2600
Building Details
Building Size
2,600 SF
Year Built
1977
Stories
2
Listing Agency:
Keller Williams Memorial
(828) 468-7451
Listed By:
Julie Chaddick · License #0718603
(828) 468-7451
Source:
Garygreene
Added: May 18
Changed: Aug 29
Last Checked: Aug 29 at 8:59PM
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 Keller Williams Memorial
Investment Insights
Based on property information with market context.
This 2,600-square-foot duplex, built in 1977, includes two residences with matching three-bedroom, two-bath layouts. Each unit provides living space, a private entrance, laminate flooring, granite counters, window coverings, ceiling fans, and washer and dryer hookups.
One residence is leased, while the other is vacant and ready for occupancy. The property is located in town within walking distance of grocery stores, shopping, and retail. Major freeways are also accessible for commuting.
One residence is leased, while the other is vacant and ready for occupancy. The property is located in town within walking distance of grocery stores, shopping, and retail. Major freeways are also accessible for commuting.
Key Highlights
- 2,600‑square‑foot duplex with two matching residences
- Each unit includes 3 bedrooms and 2 full baths
- One unit is leased; the second is vacant and ready for occupancy
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
$28,997
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
8.92%
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%
$579,940
$579.9K
Cap Rate 7%
$414,243
$414.2K
Cap Rate 9%
$322,189
$322.2K
Market Conditions
NOI Build-Up for 2,600 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
$44.3K $17.04/SF
− Vacancy
−$2.9K −$1.11/SF
EGI
$41.4K $15.93/SF
− OpEx
−$12.4K −$4.78/SF
NOI
$29.0K $11.15/SF
Area
Montgomery County, TX
Vacancy
6.50%
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%
$579,940
Cap Rate 7%
$414,243
Cap Rate 9%
$322,189
Alternative Uses
Best Use
Multifamily LT 5
$414.2K
$362.5K – $483.3K
NOI $28,997 @ 7.0% cap · market cap 8.92%
Second Best
Apartment 5plus
$390.3K
$341.5K – $455.3K
NOI $27,318 @ 7.0% cap · market cap 8.41%
Theoretical Best
Specialty Retail
$656.4K
$574.3K – $765.8K
NOI $45,946 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 77378, TX
17,417
Population
6,503
Households
2.7
Avg Household Size
35
Median Age
18%
College-Educated
81%
High-School Grad
89.1 sq mi
ZIP Area
195
Density / Sq Mi
$68,595
Median Household Income
$38,221
Median Earnings
$1,408
Median Rent
$177,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer three bedrooms, two full baths, and separate laundry hookups.
Where is this duplex located?
The property is located at 201 W Mink Street Willis, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,600‑square‑foot duplex with two matching residences; Each unit includes 3 bedrooms and 2 full baths; One unit is leased; the second is vacant and ready for occupancy
