New Construction
New
For Sale
$429,990
Pending
538 Colorado St, Abilene, TX 79601
An open-plan layout connects the living, dining, and kitchen areas, with a two-car garage serving the property.
Property Size2,291 SF
Days on Market3
Property Features for 538 Colorado St
General Information
Standard status
Pending
Size
2,291 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Neighborhood
Dyess Area
Additional Details
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Modern Day Living RE LLC
Listed By:
Hatti Day · License #0718842
(325) 901-4238
Source:
Easttxhomesforsale
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 2:33PM
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
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Investment Insights
Based on property information with market context.
Built in 2026, this newly completed duplex contains 2,291 square feet, six bedrooms, and four full bathrooms. Its open-plan arrangement links the living room, dining area, and kitchen, and the property includes a two-car garage. The residence has not previously been occupied.
The property is less than 10 minutes from the Stargate development and a few minutes from Abilene Christian University and Hendrick North.
The property is less than 10 minutes from the Stargate development and a few minutes from Abilene Christian University and Hendrick North.
Key Highlights
- 6 bedrooms and 4 full bathrooms
- 2,291 SF with an open‑plan living, dining, and kitchen arrangement
- Two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,994
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,880
$379.9K
Cap Rate 7%
$271,343
$271.3K
Cap Rate 9%
$211,044
$211.0K
Market Conditions
NOI Build-Up for 2,291 SF
Gross rent
$28.9K $12.60/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$27.1K $11.84/SF
− OpEx
−$8.1K −$3.55/SF
NOI
$19.0K $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 Rate 5%
$379,880
Cap Rate 7%
$271,343
Cap Rate 9%
$211,044
Alternative Uses
Best Use
Multifamily LT 5
$271.3K
$237.4K – $316.6K
NOI $18,994 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$251.1K
$219.7K – $292.9K
NOI $17,575 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$511.5K
$447.6K – $596.8K
NOI $35,806 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - An open-plan layout connects the living, dining, and kitchen areas, with a two-car garage serving the property.
Where is this duplex located?
The property is located at 538 Colorado St Abilene, TX.
What is the asking price?
The asking price for this property is $429,990.
What are key features of this property?
This property features: 6 bedrooms and 4 full bathrooms; 2,291 SF with an open‑plan living, dining, and kitchen arrangement; Two‑car garage
