Building Details

Year Built 1960

Listing Agency: Palo Duro Real Estate

Listed By: Shenee' Bichsel · License #BICS

Source: Choosemeraki

Added: Sep 1 Changed: Oct 13 Last Checked: Oct 16 at 6:09AM

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Investment Insights

Based on property information with market context.

Built in 1960, this 1,913-square-foot duplex property includes two primary residences and an additional small home. The duplex configuration consists of one three-bedroom, two-bath unit and one two-bedroom, one-bath unit. A separate one-bedroom, one-bath dwelling adds a third living space to the property.

Recent work includes a roof installed in 2025, new stucco, and newer hot water heaters. Located at 401 Dysart Street in Claude, Texas, the property provides a multi-unit residential layout with distinct accommodations across the site.

Key Highlights

• Two‑unit duplex with 3‑bedroom, 2‑bath and 2‑bedroom, 1‑bath residences
• Separate 1‑bedroom, 1‑bath tiny home
• 1,913 square feet of property size

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,426

Cap Rate

5.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$288,520 $288.5K

Cap Rate 7%

$206,086 $206.1K

Cap Rate 9%

$160,289 $160.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,913 SF

Gross rent

$21.8K $11.40/SF

− Vacancy

−$1.2K −$0.63/SF

EGI

$20.6K $10.77/SF

− OpEx

−$6.2K −$3.23/SF

NOI

$14.4K $7.54/SF

Area

Armstrong County, TX

Vacancy

5.50%

Lease Rate

$11.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$288,520

Cap Rate 7%

$206,086

Cap Rate 9%

$160,289

Alternative Uses

Best Use

Multifamily LT 5

$206.1K

$180.3K – $240.4K (±1% cap)

NOI $14,426 @ 7.0% cap · market cap 5.01%

Second Best

Apartment 5plus

$181.2K

$158.6K – $211.5K (±1% cap)

NOI $12,687 @ 7.0% cap · market cap 4.41%

Theoretical Best

Office A

$427.1K

$373.7K – $498.3K (±1% cap)

NOI $29,898 @ 7.0% cap · market cap 10.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Building Supply Auto Parts Store Grocery & Convenience Store (Bike/Boat/Book/etc) Store Butcher Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

125

Businesses Nearby

Explore this area Business Placement

Demographics for 79019, TX

1,713

Population

826

Households

2.1

Avg Household Size

44

Median Age

21%

College-Educated

96%

High-School Grad

576.0 sq mi

ZIP Area

3

Density / Sq Mi

$69,423

Median Household Income

$51,400

Median Earnings

$983

Median Rent

$185,700

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Three living spaces combine duplex accommodations with a separate one-bedroom, one-bath residence.

Where is this duplex located?

The property is located at 401 Dysart Street Claude, TX.

What is the asking price?

The asking price for this property is $288,000.

What are key features of this property?

This property features: Two‑unit duplex with 3‑bedroom, 2‑bath and 2‑bedroom, 1‑bath residences; Separate 1‑bedroom, 1‑bath tiny home; 1,913 square feet of property size