Four-Unit Townhome-Style
For Sale
$830,000
3725 Patty Lynne Street, Abilene, TX 79606
ResidentialIncome, Abilene, TX
Property Size4,096 SF
Lot Size0.30 Acres
Price / SF$202.64
Days on Market43
Property Features for 3725 Patty Lynne Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
8
Full bathrooms
4
Half bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bathroom 6, Bathroom 8, Bathroom 5, Bedroom 1, Bedroom 8, Bedroom 4, Bedroom 7, Bathroom 1, Bathroom 7, Bathroom 4, Bedroom 5, Bedroom 2, Bedroom 6, Bedroom 3
Parking
8
Parking features
Garage, Open, Driveway
Patio and Porch features
Porch
Interior features
EatInKitchen, CableTv
Fireplace
1
Appliances
Dryer, Dishwasher, ElectricRange, Refrigerator, Washer
Subdivision
Ridgemont Heights Replat
Lot features
Interior Lot, No Backyard Grass, Few Trees
Elementary school
Bowie
Middle school
Madison
High school
Cooper
Elementary school district
Abilene ISD
Middle school district
Abilene ISD
High school district
Abilene ISD
Directions
Driving Down Buffalo Gap Road, Turn left onto Chimney Rock Rd, Turn right onto Bruce Drive. Turn left onto Patty Lynne. Property will be on the left. No sign is present.
Standard status
Active
APN
60319
Size
4,096 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Annual Amount
8077
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
private entrances
dedicated laundry areas
electric fireplaces
Building Details
Year built
1984
Floors in Building
2
Number of units
4
Flooring type
Tile, Carpet, Vinyl
Building materials
BoardAndBattenSiding, Brick
Roof type
Composition
Listing Agency:
RE/MAX Big Country · RE/MAX International
(325) 750-6188
Listed By:
Brandi Smith · License #0581442
(325) 750-6188
Added: Jul 17
Changed: Aug 24
Last Checked: Aug 28 at 11:06PM
MLS# 21324651
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit quadplex includes two-story townhome-style residences built in 1984. Each unit measures approximately 1,024 square feet and contains two bedrooms, 1.5 bathrooms, a private entrance, an attached one-car garage, living space, kitchen, and designated laundry area. Three units received interior updates during 2022 and 2023, while the fourth remains available for further improvement. The property also has a new composition roof, public water and sewer, central heating and cooling, and electric fireplaces in the remodeled units.
Situated at 3725 Patty Lynne Street in South Abilene, the property is near shopping, dining, schools, and major employers. Current occupancy is 75%, with one remodeled and furnished unit available for lease-up or owner-selected tenancy. Two units have operated as furnished rentals, adding an additional furnished-rental configuration to the existing unit mix.
Situated at 3725 Patty Lynne Street in South Abilene, the property is near shopping, dining, schools, and major employers. Current occupancy is 75%, with one remodeled and furnished unit available for lease-up or owner-selected tenancy. Two units have operated as furnished rentals, adding an additional furnished-rental configuration to the existing unit mix.
Key Highlights
- Four two‑story units with approximately 1,024 square feet each
- Each residence includes 2 bedrooms, 1.5 bathrooms, and a private entrance
- Attached one‑car garage provided for every unit
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
$33,959
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
4.09%
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%
$679,180
$679.2K
Cap Rate 7%
$485,129
$485.1K
Cap Rate 9%
$377,322
$377.3K
Market Conditions
NOI Build-Up for 4,096 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
$51.6K $12.60/SF
− Vacancy
−$3.1K −$0.76/SF
EGI
$48.5K $11.84/SF
− OpEx
−$14.6K −$3.55/SF
NOI
$34.0K $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%
$679,180
Cap Rate 7%
$485,129
Cap Rate 9%
$377,322
Alternative Uses
Best Use
Multifamily LT 5
$485.1K
$424.5K – $566.0K
NOI $33,959 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$448.9K
$392.8K – $523.7K
NOI $31,423 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$914.5K
$800.2K – $1.07M
NOI $64,016 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Explore this area
Business Placement
Demographics for 79606, TX
27,818
Population
13,191
Households
2.1
Avg Household Size
36
Median Age
38%
College-Educated
97%
High-School Grad
69.5 sq mi
ZIP Area
400
Density / Sq Mi
$83,201
Median Household Income
$48,062
Median Earnings
$1,165
Median Rent
$248,500
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 - Two-story layouts, private entries, attached garages, and recent interior updates support flexible residential rental operations.
Where is this quadplex located?
The property is located at 3725 Patty Lynne Street Abilene, TX.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: Four two‑story units with approximately 1,024 square feet each; Each residence includes 2 bedrooms, 1.5 bathrooms, and a private entrance; Attached one‑car garage provided for every unit
