8-Unit Apartment
New
For Sale
$560,000
510 S Washington, Livingston, TX 77351
Multiple residential structures combine varied unit configurations at a centrally located Livingston property.
Property Size5,577 SF
Days on Market4
Property Features for 510 S Washington
General Information
Standard status
Active
Size
5,577 SF
Property subtype
Investment
Additional Details
Multifamily Units
8
Building Details
Building Size
5,577 SF
Year Built
1935
Stories
1
Listing Agency:
Executive Real Estate
Listed By:
Pricilla Davidson · License #0762090
(936) 662-6255
Source:
Elliman
Added: Sep 4
Last Checked: Sep 7 at 9:26AM
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 Executive Real Estate
Investment Insights
Based on property information with market context.
Built in 1935, this multifamily property at 510 S Washington in Livingston includes eight residential units distributed among a triplex, duplex, garage apartment, and two separate standalone units. The varied configuration brings several building forms together within one property and supports a diversified apartment layout.
The property is situated near downtown Livingston, with shopping, dining, schools, and major roadways identified in the surrounding area. Walk Score is 48 and Bike Score is 44, with the property classified as Car-Dependent and Somewhat Bikeable, respectively.
The property is situated near downtown Livingston, with shopping, dining, schools, and major roadways identified in the surrounding area. Walk Score is 48 and Bike Score is 44, with the property classified as Car-Dependent and Somewhat Bikeable, respectively.
Key Highlights
- Eight total residential units
- Unit mix includes a triplex, duplex, garage apartment, and two freestanding units
- Built in 1935
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
$37,250
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
6.65%
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%
$745,000
$745.0K
Cap Rate 7%
$532,143
$532.1K
Cap Rate 9%
$413,889
$413.9K
Market Conditions
NOI Build-Up for 5,577 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
$77.0K $13.80/SF
− Vacancy
−$9.2K −$1.66/SF
EGI
$67.7K $12.14/SF
− OpEx
−$30.5K −$5.46/SF
NOI
$37.2K $6.68/SF
Area
Polk County, TX
Vacancy
12.00%
Lease Rate
$13.80 /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%
$745,000
Cap Rate 7%
$532,143
Cap Rate 9%
$413,889
Alternative Uses
Best Use
Apartment 5plus
$532.1K
$465.6K – $620.8K
NOI $37,250 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$2.86M
$2.50M – $3.34M
NOI $200,270 @ 7.0% cap · market cap 35.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
617
Businesses Nearby
Explore this area
Business Placement
Demographics for 77351, TX
37,353
Population
17,934
Households
2.1
Avg Household Size
47
Median Age
15%
College-Educated
83%
High-School Grad
636.9 sq mi
ZIP Area
59
Density / Sq Mi
$62,710
Median Household Income
$35,645
Median Earnings
$1,057
Median Rent
$163,500
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?
Apartment building - Multiple residential structures combine varied unit configurations at a centrally located Livingston property.
Where is this apartment building located?
The property is located at 510 S Washington Livingston, TX.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Eight total residential units; Unit mix includes a triplex, duplex, garage apartment, and two freestanding units; Built in 1935
