Five-Unit Townhome
New
For Sale
$1,743,000
2019 2021 2023 2025 202 S Harvey Mitchell Parkway S, College Station, TX 77840
Five individually owned townhomes offer modern interiors, private garages, and leases extending through 2027.
Property Size9,064 SF
Price / SF$192.30
Days on Market2
Property Features for 2019 2021 2023 2025 202 S Harvey Mitchell Parkway S
General Information
Standard status
Active
Size
9,064 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 3BR/3.5BA, 2 x 4BR/4.5BA
Multifamily Units
5
Amenities
open-concept layout
granite countertops
stainless steel appliances
soft-close cabinetry
spacious living areas
abundant natural light
private en-suite bathroom
walk-in closet
individual thermostat
downstairs utility rooms with front-load washers and dryers
ample storage
private garages
Carpet,Laminate
Yes
Appraiser
Balcony,Granite Counters,Ceiling Fan(s),Programmable Thermostat
9064
Building Details
Building Size
9,064 SF
Year Built
2018
Stories
2
Listing Agency:
Realvest Services, LLC
(713) 461-6800
Listed By:
Carolina Rodriguez
(713) 398-8355
Source:
Garygreene
Added: Sep 22
Last Checked: Sep 22 at 1:47PM
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 Realvest Services, LLC
Investment Insights
Based on property information with market context.
This 9,064-square-foot multifamily property contains five individually owned townhomes built in 2018. The configuration includes three 3-bedroom, 3.5-bath residences and two 4-bedroom, 4.5-bath residences. Each home features an open living arrangement, granite countertops, stainless steel appliances, soft-close cabinetry, private en-suite bathrooms, walk-in closets, and individual thermostats. Downstairs utility rooms include front-load washers and dryers, while private garages and additional storage support everyday functionality.
The property is positioned along Harvey Mitchell Parkway in College Station, with access to Texas A&M University, shopping, dining, entertainment, and a nearby bus route. All five residences are leased through 2027, providing established occupancy across the townhome collection.
The property is positioned along Harvey Mitchell Parkway in College Station, with access to Texas A&M University, shopping, dining, entertainment, and a nearby bus route. All five residences are leased through 2027, providing established occupancy across the townhome collection.
Key Highlights
- Five individually owned townhomes totaling 9,064 square feet
- Unit mix includes three 3‑bedroom, 3.5‑bath homes and two 4‑bedroom, 4.5‑bath homes
- All units are leased through 2027
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
$86,952
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
4.99%
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%
$1,739,040
$1.7M
Cap Rate 7%
$1,242,171
$1.2M
Cap Rate 9%
$966,133
$966.1K
Market Conditions
NOI Build-Up for 9,064 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
$166.4K $18.36/SF
− Vacancy
−$8.3K −$0.92/SF
EGI
$158.1K $17.44/SF
− OpEx
−$71.1K −$7.85/SF
NOI
$87.0K $9.59/SF
Area
College Station, TX
Vacancy
5.00%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,739,040
Cap Rate 7%
$1,242,171
Cap Rate 9%
$966,133
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,952 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,234 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
Explore this area
Business Placement
Demographics for 77840, TX
55,180
Population
25,423
Households
2.2
Avg Household Size
25
Median Age
46%
College-Educated
91%
High-School Grad
10.0 sq mi
ZIP Area
5,518
Density / Sq Mi
$31,278
Median Household Income
$14,521
Median Earnings
$1,085
Median Rent
$241,000
Median Home Value
Check the figures for this property
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?
Multifamily property - Five individually owned townhomes offer modern interiors, private garages, and leases extending through 2027.
Where is this multifamily property located?
The property is located at 2019 2021 2023 2025 202 S Harvey Mitchell Parkway S College Station, TX.
What is the asking price?
The asking price for this property is $1,743,000.
What are key features of this property?
This property features: Five individually owned townhomes totaling 9,064 square feet; Unit mix includes three 3‑bedroom, 3.5‑bath homes and two 4‑bedroom, 4.5‑bath homes; All units are leased through 2027
