Two-Unit
New
For Sale
Under Contract
$109,900
4123 S WASHINGTON Street, Amarillo, TX 79110
MultiFamily, Amarillo, TX
Property Size1,479 SF
Price / SF$74.31
Days on Market5
Property Features for 4123 S WASHINGTON Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
0400 - SE Amarillo in City Limits
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4
Appliances
Refrigerator, Oven, Dishwasher
Directions
SOUTH ON WASHINGTON FROM CANYON EAWAY
Subdivision
0421 - Southlawn South
Standard status
Active Under Contract
APN
111752
Size
1,479 SF
Taxes and HOA fees
Tax Description
BROADMOOR ADDN, BLK 000A, 12 EXC W 10FT ROW
Legal Description
BROADMOOR ADDN, BLK 000A, 12 EXC W 10FT ROW
Utilities
Cooling system
Electric
Building Details
Year built
1983
Number of units
2
Building materials
Siding, Frame
Roof type
Composition
Listing Agency:
Absolute Real Estate
(806) 433-3277
Listed By:
Deborah Kelly · License #0467226
(806) 359-0468
Added: Aug 25
Last Checked: Aug 29 at 8:06PM
MLS# 26-6850
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 1,479-square-foot duplex contains two separate residences, each arranged with two bedrooms and one bathroom. The property was built in 1983 with frame construction and siding, and it has a composition roof. Each side includes a refrigerator, oven, and dishwasher, along with heating and air conditioning; the cooling system is electric.
The property is located at 4123 S Washington Street in Amarillo’s Southlawn South area, just south of the Canyon E-Way. Its two-unit layout and included appliances provide a straightforward residential configuration for an owner-user or income-property buyer.
The property is located at 4123 S Washington Street in Amarillo’s Southlawn South area, just south of the Canyon E-Way. Its two-unit layout and included appliances provide a straightforward residential configuration for an owner-user or income-property buyer.
Key Highlights
- 1,479‑square‑foot duplex with two separate residences
- Each unit includes 2 bedrooms and 1 bathroom
- Refrigerator, oven, and dishwasher included on each side
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
$9,809
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
8.93%
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%
$196,180
$196.2K
Cap Rate 7%
$140,129
$140.1K
Cap Rate 9%
$108,989
$109.0K
Market Conditions
NOI Build-Up for 1,479 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
$18.8K $12.72/SF
− Vacancy
−$978 −$0.66/SF
EGI
$17.8K $12.06/SF
− OpEx
−$8.0K −$5.43/SF
NOI
$9.8K $6.63/SF
Area
Amarillo, TX
Vacancy
5.20%
Lease Rate
$12.72 /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%
$196,180
Cap Rate 7%
$140,129
Cap Rate 9%
$108,989
Alternative Uses
Best Use
Multifamily LT 5
$159.3K
$139.4K – $185.9K
NOI $11,153 @ 7.0% cap · market cap 10.15%
Second Best
Apartment 5plus
$140.1K
$122.6K – $163.5K
NOI $9,809 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$330.2K
$288.9K – $385.3K
NOI $23,115 @ 7.0% cap · market cap 21.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Explore this area
Business Placement
Demographics for 79110, TX
18,285
Population
7,760
Households
2.4
Avg Household Size
35
Median Age
15%
College-Educated
91%
High-School Grad
5.4 sq mi
ZIP Area
3,386
Density / Sq Mi
$65,896
Median Household Income
$39,833
Median Earnings
$1,173
Median Rent
$153,400
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 - Both residences offer two bedrooms, one bathroom, appliances, and heating and air conditioning.
Where is this duplex located?
The property is located at 4123 S WASHINGTON Street Amarillo, TX.
What is the asking price?
The asking price for this property is $109,900.
What are key features of this property?
This property features: 1,479‑square‑foot duplex with two separate residences; Each unit includes 2 bedrooms and 1 bathroom; Refrigerator, oven, and dishwasher included on each side
