Six-Unit Apartment
For Sale
$285,000
210 College St, Orange, TX 77630
The property offers a varied unit mix with studio-style one-bedroom layouts and a separate larger two-bedroom home.
Property Size2,974 SF
Price / SF$95.83
Days on Market189
Property Features for 210 College St
General Information
Standard status
Active
Size
2,974 SF
Property subtype
Residential Income
Occupancy
95%
Units
Unit Mix
5 x 1BR/1BA studio style, 1 x 2BR/1BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$5,928
Listing Agency:
Connect Realty.com
(337) 564-2095
Listed By:
Skylar Webster · License #995690757
(337) 564-2095
Source:
Exprealty
Added: Jan 31
Changed: Aug 7
Last Checked: Aug 8 at 9:24AM
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 Connect Realty.com
Investment Insights
Based on property information with market context.
This apartment property contains 6 units across 2,974 square feet. The configuration includes 5 studio-style units with 1 bedroom and 1 bath each, plus 1 unit with 2 bedrooms and 1 bath. The property also includes a separate larger home positioned at the rear of the site.
A long driveway provides substantial on-site parking. Located at 210 College St in Orange, the property sits behind downtown Orange. Occupancy is reported at 95%, and additional rental information and supporting documents are available through the agent.
A long driveway provides substantial on-site parking. Located at 210 College St in Orange, the property sits behind downtown Orange. Occupancy is reported at 95%, and additional rental information and supporting documents are available through the agent.
Key Highlights
- 6 total units across 2,974 square feet
- Unit mix includes 5 1‑bedroom, 1‑bath studio‑style units
- 1 unit offers 2 bedrooms and 1 bath
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
$23,617
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
8.29%
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%
$472,340
$472.3K
Cap Rate 7%
$337,386
$337.4K
Cap Rate 9%
$262,411
$262.4K
Market Conditions
NOI Build-Up for 2,974 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
$45.7K $15.36/SF
− Vacancy
−$2.7K −$0.92/SF
EGI
$42.9K $14.44/SF
− OpEx
−$19.3K −$6.50/SF
NOI
$23.6K $7.94/SF
Area
Orange County, TX
Vacancy
6.00%
Lease Rate
$15.36 /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%
$472,340
Cap Rate 7%
$337,386
Cap Rate 9%
$262,411
Alternative Uses
Best Use
Apartment 5plus
$337.4K
$295.2K – $393.6K
NOI $23,617 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$702.3K
$614.6K – $819.4K
NOI $49,164 @ 7.0% cap · market cap 17.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
95%
Occupancy
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
Explore this area
Business Placement
Demographics for 77630, TX
29,317
Population
13,127
Households
2.2
Avg Household Size
39
Median Age
16%
College-Educated
90%
High-School Grad
95.8 sq mi
ZIP Area
306
Density / Sq Mi
$63,588
Median Household Income
$37,307
Median Earnings
$1,033
Median Rent
$163,700
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?
Apartment building - The property offers a varied unit mix with studio-style one-bedroom layouts and a separate larger two-bedroom home.
Where is this apartment building located?
The property is located at 210 College St Orange, TX.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 6 total units across 2,974 square feet; Unit mix includes 5 1‑bedroom, 1‑bath studio‑style units; 1 unit offers 2 bedrooms and 1 bath
