Two-Unit Duplex with
For Sale
$99,000
411 S Florida Street, Amarillo, TX 79106
Residential duplex with matching one-bedroom layouts, a fenced backyard, and detached garage access.
Property Size1,056 SF
Price / SF$93.75
Days on Market40
Property Features for 411 S Florida Street
General Information
Standard status
Active
Size
1,056 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1927
Buildings
1
Listing Agency:
Keller Williams Realty Amarillo
(806) 443-5441
Listed By:
Zoey Shepherd · License #SHEZO
Source:
Choosemeraki
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 31 at 1:13PM
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 Keller Williams Realty Amarillo
Investment Insights
Based on property information with market context.
Built in 1927, this 1,056-square-foot duplex contains two residential units, each arranged with 1 bedroom and 1 bathroom. Unit A includes a fenced backyard, providing a defined outdoor area for that side of the property.
A detached two-car garage serves the property, with access assigned to Unit B. The combination of two compact unit layouts, separate outdoor space for Unit A, and detached garage access creates a straightforward duplex configuration.
A detached two-car garage serves the property, with access assigned to Unit B. The combination of two compact unit layouts, separate outdoor space for Unit A, and detached garage access creates a straightforward duplex configuration.
Key Highlights
- Two‑unit duplex built in 1927
- Each unit has 1 bedroom and 1 bathroom
- 1,056 SF total property size
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
$7,963
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
8.04%
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%
$159,260
$159.3K
Cap Rate 7%
$113,757
$113.8K
Cap Rate 9%
$88,478
$88.5K
Market Conditions
NOI Build-Up for 1,056 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
$12.0K $11.40/SF
− Vacancy
−$662 −$0.63/SF
EGI
$11.4K $10.77/SF
− OpEx
−$3.4K −$3.23/SF
NOI
$8.0K $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%
$159,260
Cap Rate 7%
$113,757
Cap Rate 9%
$88,478
Alternative Uses
Best Use
Multifamily LT 5
$113.8K
$99.5K – $132.7K
NOI $7,963 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$100.1K
$87.6K – $116.7K
NOI $7,004 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$235.8K
$206.3K – $275.1K
NOI $16,504 @ 7.0% cap · market cap 16.67%
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
215
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 - Residential duplex with matching one-bedroom layouts, a fenced backyard, and detached garage access.
Where is this duplex located?
The property is located at 411 S Florida Street Amarillo, TX.
What is the asking price?
The asking price for this property is $99,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1927; Each unit has 1 bedroom and 1 bathroom; 1,056 SF total property size
