Updated Duplex with Park
For Sale
$249,900
3185 Curry Lane, Abilene, TX 79605
Two separately leased units feature refreshed interiors, fenced outdoor space, and side parking.
Property Size1,764 SF
Price / SF$141.67
Days on Market175
Property Features for 3185 Curry Lane
General Information
Standard status
Active
Size
1,764 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Full Duplex
Additional Details
Multifamily Units
2
Amenities
fenced in yard
Ceiling Fan(s), Central Air
Central
Luxury Vinyl Plank, Tile
Dishwasher, Electric Range
Decorative Lighting, Wainscoting
No
Composition
One
Chain Link
1
Slab
Appraiser
2
Siding
Building Details
Year Built
1958
Buildings
1
Tenancy
Multi
Listing Agency:
Arnold-REALTORS
Listed By:
Pamela Trull
(325) 721-2655
Source:
Compass
Added: Mar 17
Changed: Aug 31
Last Checked: Aug 30 at 5:31AM
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 Arnold-REALTORS
Investment Insights
Based on property information with market context.
This 1,764-square-foot duplex contains two two-bedroom apartments. Apartment A also includes an additional room that can serve as office space or a small bedroom, while Apartment B includes its appliances. Recent work includes flooring, interior paint, doors, bathroom subflooring, tubs, lighting, and ceiling fans. The property also has central air, luxury vinyl plank and tile flooring, a fenced yard, and side parking.
Exterior improvements include new siding and windows completed in 2022. Apartment A is leased through February 12, 2027, and Apartment B is leased through December 3, 2026. The property sits across from a park and has a slab foundation with composition roofing.
Exterior improvements include new siding and windows completed in 2022. Apartment A is leased through February 12, 2027, and Apartment B is leased through December 3, 2026. The property sits across from a park and has a slab foundation with composition roofing.
Key Highlights
- 1,764‑square‑foot duplex with two 2‑bedroom apartments
- Apartment A includes an additional office or small‑bedroom space
- Apartment B includes all appliances
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
$14,625
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
5.85%
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%
$292,500
$292.5K
Cap Rate 7%
$208,929
$208.9K
Cap Rate 9%
$162,500
$162.5K
Market Conditions
NOI Build-Up for 1,764 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
$22.2K $12.60/SF
− Vacancy
−$1.3K −$0.76/SF
EGI
$20.9K $11.84/SF
− OpEx
−$6.3K −$3.55/SF
NOI
$14.6K $8.29/SF
Area
Abilene, TX
Vacancy
6.00%
Lease Rate
$12.60 /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%
$292,500
Cap Rate 7%
$208,929
Cap Rate 9%
$162,500
Alternative Uses
Best Use
Multifamily LT 5
$208.9K
$182.8K – $243.8K
NOI $14,625 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$193.3K
$169.2K – $225.6K
NOI $13,533 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$393.8K
$344.6K – $459.5K
NOI $27,569 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
917
Businesses Nearby
Explore this area
Business Placement
Demographics for 79605, TX
30,239
Population
12,795
Households
2.4
Avg Household Size
35
Median Age
25%
College-Educated
87%
High-School Grad
11.0 sq mi
ZIP Area
2,749
Density / Sq Mi
$59,565
Median Household Income
$33,537
Median Earnings
$1,077
Median Rent
$159,800
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 separately leased units feature refreshed interiors, fenced outdoor space, and side parking.
Where is this duplex located?
The property is located at 3185 Curry Lane Abilene, TX.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,764‑square‑foot duplex with two 2‑bedroom apartments; Apartment A includes an additional office or small‑bedroom space; Apartment B includes all appliances
