Two-Unit Duplex with Rental
For Sale
$175,000
500 9th Avenue, Canyon, TX 79015
Both residences are currently rented and offer matching residential layouts.
Property Size1,734 SF
Price / SF$100.92
Days on Market119
Property Features for 500 9th Avenue
General Information
Standard status
Active
Size
1,734 SF
Property subtype
MultiFamily
Amenities
Yes, Window Refrig
Yes
Composition
Siding, Brick Veneer
Building Details
Year Built
1962
Listing Agency:
Heritage Real Estate
(806) 236-4453
Listed By:
Yvette Ayala · License #0537643
(806) 236-4453
Source:
Compass
Added: May 6
Changed: Aug 31
Last Checked: Aug 31 at 1:05AM
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 Heritage Real Estate
Investment Insights
Based on property information with market context.
This duplex contains 1,734 square feet and was built in 1962. Each side provides two bedrooms and one bathroom, creating matching layouts across the property. Exterior materials include composition elements, siding, and brick veneer, while interior features include window refrigeration.
Both units are currently rented. The property is located in Canyon, Texas, and showings require an appointment.
Both units are currently rented. The property is located in Canyon, Texas, and showings require an appointment.
Key Highlights
- Duplex with 1,734 square feet of total property size
- Two bedrooms and one bathroom in each unit
- Both units are currently rented
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
$13,292
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
7.60%
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%
$265,840
$265.8K
Cap Rate 7%
$189,886
$189.9K
Cap Rate 9%
$147,689
$147.7K
Market Conditions
NOI Build-Up for 1,734 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
$21.4K $12.36/SF
− Vacancy
−$2.4K −$1.41/SF
EGI
$19.0K $10.95/SF
− OpEx
−$5.7K −$3.29/SF
NOI
$13.3K $7.67/SF
Area
Randall County, TX
Vacancy
11.40%
Lease Rate
$12.36 /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%
$265,840
Cap Rate 7%
$189,886
Cap Rate 9%
$147,689
Alternative Uses
Best Use
Multifamily LT 5
$189.9K
$166.2K – $221.5K
NOI $13,292 @ 7.0% cap · market cap 7.60%
Second Best
Apartment 5plus
$168.3K
$147.3K – $196.4K
NOI $11,783 @ 7.0% cap · market cap 6.73%
Theoretical Best
Hotel Hospitality
$889.5K
$778.4K – $1.04M
NOI $62,268 @ 7.0% cap · market cap 35.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Explore this area
Business Placement
Demographics for 79015, TX
21,710
Population
9,311
Households
2.3
Avg Household Size
32
Median Age
40%
College-Educated
95%
High-School Grad
328.5 sq mi
ZIP Area
66
Density / Sq Mi
$81,351
Median Household Income
$43,168
Median Earnings
$976
Median Rent
$267,900
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 are currently rented and offer matching residential layouts.
Where is this duplex located?
The property is located at 500 9th Avenue Canyon, TX.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Duplex with 1,734 square feet of total property size; Two bedrooms and one bathroom in each unit; Both units are currently rented
