Remodeled Duplex with Two
For Sale
$89,000
403 N FLORIDA Street, Amarillo, TX 79106
MultiFamily, Amarillo, TX
Property Size825 SF
Lot Size0.16 Acres
Price / SF$107.88
Days on Market77
Property Features for 403 N FLORIDA Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
0100 - NW Amarillo in City Limits
Bedrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1
Directions
From west Amarillo Blvd, turn south on Florida. The house is on the second block on the right.
Subdivision
0111 - San Jacinto
Standard status
Active
APN
169548
Size
825 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
SAN JACINTO HEIGHTS, LOT 002, BLK 0102
Legal Description
SAN JACINTO HEIGHTS, LOT 002, BLK 0102
Building Details
Year built
1920
Number of units
2
Building materials
Siding
Roof type
Composition
Listing Agency:
Keller Williams Realty Amarillo
(806) 359-4000
Listed By:
Frances Frost
(806) 359-4000
Added: Jun 8
Changed: Aug 19
Last Checked: Aug 23 at 3:06PM
MLS# 26-991
Copyright © 2026 Amarillo Association of REALTORS. 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 remodeled duplex at 403 N FLORIDA Street includes two residential units, with each side configured as one bedroom and one bathroom. The property contains 825 square feet and features siding construction beneath a composition roof. Built in 1920, the building provides a compact two-unit format for residential income use.
The property is located in Amarillo, Texas, in Potter County. Its 0.16-acre lot supports the existing duplex configuration, while the separate one-bedroom, one-bath layouts create a straightforward arrangement for occupancy or leasing. The address is within postal code 79106.
The property is located in Amarillo, Texas, in Potter County. Its 0.16-acre lot supports the existing duplex configuration, while the separate one-bedroom, one-bath layouts create a straightforward arrangement for occupancy or leasing. The address is within postal code 79106.
Key Highlights
- Remodeled duplex with two one‑bedroom, one‑bath units
- 825 square feet across the duplex
- 0.16‑acre lot in Amarillo, TX 79106
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
$6,221
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
6.99%
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%
$124,420
$124.4K
Cap Rate 7%
$88,871
$88.9K
Cap Rate 9%
$69,122
$69.1K
Market Conditions
NOI Build-Up for 825 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
$9.4K $11.40/SF
− Vacancy
−$517 −$0.63/SF
EGI
$8.9K $10.77/SF
− OpEx
−$2.7K −$3.23/SF
NOI
$6.2K $7.54/SF
Area
Amarillo, 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 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%
$124,420
Cap Rate 7%
$88,871
Cap Rate 9%
$69,122
Alternative Uses
Best Use
Multifamily LT 5
$88.9K
$77.8K – $103.7K
NOI $6,221 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$78.2K
$68.4K – $91.2K
NOI $5,472 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$184.2K
$161.2K – $214.9K
NOI $12,894 @ 7.0% cap · market cap 14.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
343
Businesses Nearby
Explore this area
Business Placement
Demographics for 79106, TX
27,692
Population
13,385
Households
2.1
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
8.6 sq mi
ZIP Area
3,220
Density / Sq Mi
$54,407
Median Household Income
$36,061
Median Earnings
$995
Median Rent
$163,100
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 compact residential units offer separate one-bedroom, one-bath layouts within a remodeled duplex.
Where is this duplex located?
The property is located at 403 N FLORIDA Street Amarillo, TX.
What is the asking price?
The asking price for this property is $89,000.
What are key features of this property?
This property features: Remodeled duplex with two one‑bedroom, one‑bath units; 825 square feet across the duplex; 0.16‑acre lot in Amarillo, TX 79106
