Fully Occupied
New
For Sale
$365,000
2402 Cottonwood Dr, Georgetown, TX 78628
Two matching residences provide private laundry areas, vaulted living spaces, and shared covered parking.
Property Size1,937 SF
Price / SF$188.44
Days on Market2
Property Features for 2402 Cottonwood Dr
General Information
Standard status
Active
Size
1,937 SF
Property subtype
Multi-Family
Building Details
Year Built
1975
Listing Agency:
Compass RE Texas, LLC
(512) 695-8000
Listed By:
Linda Takenaka · License #433583
Source:
Efirsttexas
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 5:19AM
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 Compass RE Texas, LLC
Investment Insights
Based on property information with market context.
This 1,937-square-foot duplex, built in 1975, contains two identical units with matching two-bedroom, one-bath layouts. Each residence includes a living area with vaulted ceilings, its own laundry area, and a backyard. The property also provides a shared two-car carport and additional parking along a long paved driveway. Both units are fully occupied.
The property offers access to IH-35, Williams Drive, and SH-130. Lake Georgetown, the Historic Downtown Square, shopping, and restaurants are minutes away, providing convenient connections to area amenities and transportation routes.
The property offers access to IH-35, Williams Drive, and SH-130. Lake Georgetown, the Historic Downtown Square, shopping, and restaurants are minutes away, providing convenient connections to area amenities and transportation routes.
Key Highlights
- 1,937 SF duplex with two identical two‑bedroom, one‑bath units
- Fully occupied property with both residences currently leased
- Each unit includes a private laundry area and vaulted living‑area ceilings
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
$32,481
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
8.90%
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%
$649,620
$649.6K
Cap Rate 7%
$464,014
$464.0K
Cap Rate 9%
$360,900
$360.9K
Market Conditions
NOI Build-Up for 1,937 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
$48.8K $25.20/SF
− Vacancy
−$2.4K −$1.24/SF
EGI
$46.4K $23.96/SF
− OpEx
−$13.9K −$7.19/SF
NOI
$32.5K $16.77/SF
Area
Williamson 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%
$649,620
Cap Rate 7%
$464,014
Cap Rate 9%
$360,900
Alternative Uses
Best Use
Multifamily LT 5
$464.0K
$406.0K – $541.4K
NOI $32,481 @ 7.0% cap · market cap 8.90%
Second Best
Apartment 5plus
$424.2K
$371.2K – $494.9K
NOI $29,693 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$809.7K
$708.5K – $944.7K
NOI $56,680 @ 7.0% cap · market cap 15.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Explore this area
Business Placement
Demographics for 78628, TX
40,378
Population
17,738
Households
2.3
Avg Household Size
42
Median Age
53%
College-Educated
94%
High-School Grad
64.7 sq mi
ZIP Area
624
Density / Sq Mi
$117,198
Median Household Income
$58,328
Median Earnings
$1,552
Median Rent
$467,700
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?
Duplex - Two matching residences provide private laundry areas, vaulted living spaces, and shared covered parking.
Where is this duplex located?
The property is located at 2402 Cottonwood Dr Georgetown, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 1,937 SF duplex with two identical two‑bedroom, one‑bath units; Fully occupied property with both residences currently leased; Each unit includes a private laundry area and vaulted living‑area ceilings
