Updated
New
For Sale
$550,000
402 Algerita DR, Georgetown, TX 78628
Unit C is vacant, and residents pay their own utility costs through separate metering.
Property Size3,072 SF
Price / SF$179.04
Days on Market2
Property Features for 402 Algerita DR
General Information
Standard status
Active
Size
3,072 SF
Property subtype
Multi-Family
Building Details
Year Built
1984
Year Renovated
2025
Tenancy
Multi
Listing Agency:
All City Real Estate Ltd. Co
(979) 702-2229
Listed By:
Cribs Realty Group
(512) 200-5327
Source:
Cribsrealtygroup
Added: Sep 26
Last Checked: Sep 26 at 4:59AM
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 All City Real Estate Ltd. Co
Investment Insights
Based on property information with market context.
Built in 1984, this 3,072-square-foot quadplex has four residential units. Recent capital work includes a full roof replacement in 2024, a new staircase in 2025, and replacement of the air-conditioning equipment serving Units B and C in 2024. Unit D’s A/C was replaced in 2023.
Each unit has separate utility meters, with no shared water meter. Residents are responsible for their utility bills. Unit C is vacant and available to show; access to the other occupied units is available after an executed contract.
Each unit has separate utility meters, with no shared water meter. Residents are responsible for their utility bills. Unit C is vacant and available to show; access to the other occupied units is available after an executed contract.
Key Highlights
- 3,072‑square‑foot quadplex built in 1984
- Full roof replacement completed in 2024
- A/C replaced in Units B and C in 2024; Unit D A/C replaced in 2023
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
$47,091
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
8.56%
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%
$941,820
$941.8K
Cap Rate 7%
$672,729
$672.7K
Cap Rate 9%
$523,233
$523.2K
Market Conditions
NOI Build-Up for 3,072 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
$90.3K $29.40/SF
− Vacancy
−$4.7K −$1.53/SF
EGI
$85.6K $27.87/SF
− OpEx
−$38.5K −$12.54/SF
NOI
$47.1K $15.33/SF
Area
Williamson County, TX
Vacancy
5.20%
Lease Rate
$29.40 /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%
$941,820
Cap Rate 7%
$672,729
Cap Rate 9%
$523,233
Alternative Uses
Best Use
Multifamily LT 5
$735.9K
$643.9K – $858.6K
NOI $51,513 @ 7.0% cap · market cap 9.37%
Second Best
Apartment 5plus
$672.7K
$588.6K – $784.9K
NOI $47,091 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,892 @ 7.0% cap · market cap 16.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
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Business Placement
Demographics for 78628, TX
40,378
Population
17,738
Households
2.3
Avg Household Size
42
Median Age
53%
College-Educated
94%
High-School Grad
64.7 sq mi
ZIP Area
624
Density / Sq Mi
$117,198
Median Household Income
$58,328
Median Earnings
$1,552
Median Rent
$467,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Unit C is vacant, and residents pay their own utility costs through separate metering.
Where is this quadplex located?
The property is located at 402 Algerita DR Georgetown, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 3,072‑square‑foot quadplex built in 1984; Full roof replacement completed in 2024; A/C replaced in Units B and C in 2024; Unit D A/C replaced in 2023
