Fourplex with Private
For Sale
$444,900
302 Manuel Drive A-d, College Station, TX 77840
Four-unit property with a balanced mix of one- and two-bedroom residences, dedicated laundry rooms, and updated interior finishes.
Property Size3,026 SF
Price / SF$147.03
Days on Market40
Property Features for 302 Manuel Drive A-d
General Information
Standard status
Active
Size
3,026 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Amenities
private fenced yards
outdoor decks
dedicated laundry room
Building Details
Year Built
1981
Buildings
1
Listing Agency:
TNT Properties Real Estate
(979) 353-2567
Listed By:
Sarah Dwyer
Source:
Doorstephomegroup
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 29 at 11:57AM
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 TNT Properties Real Estate
Investment Insights
Based on property information with market context.
This 3,026-square-foot quadplex, built in 1981, contains two 2-bedroom/1-bathroom units and two 1-bedroom/1-bathroom units. Each residence includes a dedicated laundry room, while select kitchens and bathrooms feature granite and tile countertops. Vinyl wood flooring is installed throughout the main living areas.
The downstairs residences add private fenced yards and outdoor decks. Located at 302 Manuel Drive in College Station, the property is near Wolf Pen Creek Amphitheater, parks, dining, and entertainment. The seller also offers the option to acquire this fourplex with the neighboring fourplex at 306 Manuel Drive as an 8-unit package.
The downstairs residences add private fenced yards and outdoor decks. Located at 302 Manuel Drive in College Station, the property is near Wolf Pen Creek Amphitheater, parks, dining, and entertainment. The seller also offers the option to acquire this fourplex with the neighboring fourplex at 306 Manuel Drive as an 8-unit package.
Key Highlights
- Two 2‑bedroom/1‑bathroom units and two 1‑bedroom/1‑bathroom units
- 3,026 SF quadplex built in 1981
- Downstairs units include private fenced yards and outdoor decks
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
$32,530
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
7.31%
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%
$650,600
$650.6K
Cap Rate 7%
$464,714
$464.7K
Cap Rate 9%
$361,444
$361.4K
Market Conditions
NOI Build-Up for 3,026 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
$49.0K $16.20/SF
− Vacancy
−$2.5K −$0.84/SF
EGI
$46.5K $15.36/SF
− OpEx
−$13.9K −$4.61/SF
NOI
$32.5K $10.75/SF
Area
College Station, TX
Vacancy
5.20%
Lease Rate
$16.20 /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%
$650,600
Cap Rate 7%
$464,714
Cap Rate 9%
$361,444
Alternative Uses
Best Use
Multifamily LT 5
$464.7K
$406.6K – $542.2K
NOI $32,530 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$414.7K
$362.9K – $483.8K
NOI $29,029 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$745.1K
$652.0K – $869.3K
NOI $52,159 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
967
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with a balanced mix of one- and two-bedroom residences, dedicated laundry rooms, and updated interior finishes.
Where is this quadplex located?
The property is located at 302 Manuel Drive A-d College Station, TX.
What is the asking price?
The asking price for this property is $444,900.
What are key features of this property?
This property features: Two 2‑bedroom/1‑bathroom units and two 1‑bedroom/1‑bathroom units; 3,026 SF quadplex built in 1981; Downstairs units include private fenced yards and outdoor decks
