Updated Duplex with Fenced
For Sale
$359,000
205 2nd Ave 1 & 2, Smithville, TX 78957
Each unit offers two bedrooms, one bath, and an open arrangement connecting the living, dining, and kitchen areas.
Property Size1,680 SF
Price / SF$213.69
Days on Market22
Property Features for 205 2nd Ave 1 & 2
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
fenced backyard
front porch
breakfast bar
cabinets
Building Details
Year Built
1981
Construction
farmhouse style
Listing Agency:
Kana Real Estate
(512) 413-3988
Listed By:
Dawn Kana · License #0356844
Source:
Olverabolton
Added: Aug 10
Changed: Aug 30
Last Checked: Aug 30 at 8:18PM
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 Kana Real Estate
Investment Insights
Based on property information with market context.
Built in 1981, this duplex contains 1680 square feet across two residential units. Both sides feature two bedrooms and one bathroom, with connected living, dining, and kitchen areas arranged in an open layout. Kitchen details include a breakfast bar, generous counter space, and ample cabinetry. Updated flooring and fresh paint provide recent interior improvements.
Outdoor features include a fenced backyard and a front porch positioned toward the neighboring pasture. The property is located at 205 2nd Ave in Smithville, Texas, with both units identified as 1 and 2.
Outdoor features include a fenced backyard and a front porch positioned toward the neighboring pasture. The property is located at 205 2nd Ave in Smithville, Texas, with both units identified as 1 and 2.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bath on each side
- 1680 square feet total
- Open‑concept living, dining, and kitchen areas in both units
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
$28,171
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
7.85%
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%
$563,420
$563.4K
Cap Rate 7%
$402,443
$402.4K
Cap Rate 9%
$313,011
$313.0K
Market Conditions
NOI Build-Up for 1,680 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
$42.3K $25.20/SF
− Vacancy
−$2.1K −$1.24/SF
EGI
$40.2K $23.96/SF
− OpEx
−$12.1K −$7.19/SF
NOI
$28.2K $16.77/SF
Area
Bastrop County, TX
Vacancy
4.94%
Lease Rate
$25.20 /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%
$563,420
Cap Rate 7%
$402,443
Cap Rate 9%
$313,011
Alternative Uses
Best Use
Multifamily LT 5
$402.4K
$352.1K – $469.5K
NOI $28,171 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$367.9K
$321.9K – $429.2K
NOI $25,753 @ 7.0% cap · market cap 7.17%
Theoretical Best
Office A
$658.3K
$576.1K – $768.1K
NOI $46,084 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Explore this area
Business Placement
Demographics for 78957, TX
10,214
Population
4,743
Households
2.2
Avg Household Size
45
Median Age
24%
College-Educated
89%
High-School Grad
177.1 sq mi
ZIP Area
58
Density / Sq Mi
$62,796
Median Household Income
$39,731
Median Earnings
$1,169
Median Rent
$246,500
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 - Each unit offers two bedrooms, one bath, and an open arrangement connecting the living, dining, and kitchen areas.
Where is this duplex located?
The property is located at 205 2nd Ave 1 & 2 Smithville, TX.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bath on each side; 1680 square feet total; Open‑concept living, dining, and kitchen areas in both units
