Residential Income Property with Central
For Sale
$250,000
Pending
304 Mesa Drive, Bryan, TX 77802
Built in 2003 with central electric interior features and wood and paved exterior elements.
Property Size2,016 SF
Days on Market53
Property Features for 304 Mesa Drive
General Information
Standard status
Pending
Size
2,016 SF
Total Parking Spaces
4
Property subtype
Residential Income
Amenities
Central, Electric
Wood
Paved
Building Details
Building Size
2,016 SF
Year Built
2003
Stories
1
Listing Agency:
Weichert Realtor - BCS
Listed By:
Warren Green · License #0515914
(979) 574-1722
Source:
Evrealestate
Added: Jul 17
Changed: Sep 6
Last Checked: Sep 7 at 4:32AM
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 Weichert Realtor - BCS
Investment Insights
Based on property information with market context.
This residential income property at 304 Mesa Drive in Bryan, Texas, was built in 2003. Interior features include central electric systems, while the exterior incorporates wood and paved elements.
The property is located in Brazos County and is accessed from William J Bryan via Mesa Drive.
The property is located in Brazos County and is accessed from William J Bryan via Mesa Drive.
Key Highlights
- Residential income property in Bryan, Texas
- Built in 2003
- Central electric interior features
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
$19,340
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
7.74%
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%
$386,800
$386.8K
Cap Rate 7%
$276,286
$276.3K
Cap Rate 9%
$214,889
$214.9K
Market Conditions
NOI Build-Up for 2,016 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
$37.0K $18.36/SF
− Vacancy
−$1.9K −$0.92/SF
EGI
$35.2K $17.44/SF
− OpEx
−$15.8K −$7.85/SF
NOI
$19.3K $9.59/SF
Area
Brazos County, 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%
$386,800
Cap Rate 7%
$276,286
Cap Rate 9%
$214,889
Alternative Uses
Best Use
Apartment 5plus
$276.3K
$241.8K – $322.3K
NOI $19,340 @ 7.0% cap · market cap 7.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$496.4K
$434.4K – $579.2K
NOI $34,749 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 77802, TX
25,502
Population
12,189
Households
2.1
Avg Household Size
37
Median Age
42%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,218
Density / Sq Mi
$68,132
Median Household Income
$43,920
Median Earnings
$1,272
Median Rent
$237,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 2003 with central electric interior features and wood and paved exterior elements.
Where is this residential income property located?
The property is located at 304 Mesa Drive Bryan, TX.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Residential income property in Bryan, Texas; Built in 2003; Central electric interior features
