New Construction
For Sale
$489,990
Pending
510 Colorado, Abilene, TX 79601
Brand-new duplex with open living areas, contemporary finishes, and convenient access to Abilene Christian University and Hendrick North.
Property Size2,644 SF
Days on Market147
Property Features for 510 Colorado
General Information
Standard status
Pending
Size
2,644 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2026
Listing Agency:
Modern Day Living Re LLC
(806) 544-7518
Listed By:
Hatti Day · License #9013981
Source:
Divinerealtygrp
Added: Apr 8
Changed: Aug 31
Last Checked: Sep 1 at 8:06PM
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 Modern Day Living Re LLC
Investment Insights
Based on property information with market context.
This 2,644-square-foot duplex was built in 2026 and has never been occupied. The property features an open-concept arrangement connecting the living, dining, and kitchen areas, along with modern finishes and abundant natural light. The residence includes 3 bedrooms, 2 full bathrooms, and a 2-car garage.
Located at 510 Colorado in Abilene, the property is less than 10 minutes from the Stargate development and close to Abilene Christian University and Hendrick North. Its residential setting combines neighborhood surroundings with access to nearby growth corridors.
Located at 510 Colorado in Abilene, the property is less than 10 minutes from the Stargate development and close to Abilene Christian University and Hendrick North. Its residential setting combines neighborhood surroundings with access to nearby growth corridors.
Key Highlights
- 2,644‑square‑foot duplex built in 2026
- Brand‑new construction that has never been occupied
- 3 bedrooms and 2 full bathrooms
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
$21,921
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
4.47%
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%
$438,420
$438.4K
Cap Rate 7%
$313,157
$313.2K
Cap Rate 9%
$243,567
$243.6K
Market Conditions
NOI Build-Up for 2,644 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
$33.3K $12.60/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$31.3K $11.84/SF
− OpEx
−$9.4K −$3.55/SF
NOI
$21.9K $8.29/SF
Area
Abilene, TX
Vacancy
6.00%
Lease Rate
$12.60 /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%
$438,420
Cap Rate 7%
$313,157
Cap Rate 9%
$243,567
Alternative Uses
Best Use
Multifamily LT 5
$313.2K
$274.0K – $365.4K
NOI $21,921 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$289.8K
$253.5K – $338.1K
NOI $20,283 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$590.3K
$516.5K – $688.7K
NOI $41,323 @ 7.0% cap · market cap 8.43%
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
39
Businesses Nearby
Explore this area
Business Placement
Demographics for 79601, TX
26,515
Population
9,422
Households
2.8
Avg Household Size
32
Median Age
21%
College-Educated
84%
High-School Grad
263.0 sq mi
ZIP Area
101
Density / Sq Mi
$54,515
Median Household Income
$24,704
Median Earnings
$988
Median Rent
$182,900
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 - Brand-new duplex with open living areas, contemporary finishes, and convenient access to Abilene Christian University and Hendrick North.
Where is this duplex located?
The property is located at 510 Colorado Abilene, TX.
What is the asking price?
The asking price for this property is $489,990.
What are key features of this property?
This property features: 2,644‑square‑foot duplex built in 2026; Brand‑new construction that has never been occupied; 3 bedrooms and 2 full bathrooms
