Tenant-Occupied Triplex with Garage
For Sale
$399,000
605-607 East Pease St, Bryan, TX 77803
Three occupied units include a duplex and separate garage apartment with shared shaded outdoor space.
Property Size3,076 SF
Price / SF$129.71
Days on Market22
Property Features for 605-607 East Pease St
General Information
Standard status
Active
Size
3,076 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
3
Amenities
shared yard
Building Details
Year Built
1955
Listing Agency:
My Castle Realty
(713) 683-0054
Listed By:
Gary Bisha · License #0508227
Source:
Doorstephomegroup
Added: Aug 10
Changed: Aug 29
Last Checked: Aug 30 at 7:23PM
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 My Castle Realty
Investment Insights
Based on property information with market context.
This 3,076-square-foot triplex was built in 1955 and includes two units in a duplex configuration plus a separate garage apartment. All three units are tenant-occupied, and each offers a functional layout. Residents share access to a shaded yard that provides outdoor space for relaxing or entertaining.
The property is located at 605-607 East Pease St in Bryan, within walking distance of SFA Middle School and 1.5 miles from Blinn College. Downtown Bryan, local parks, and major roadways are also accessible from the property. The combination of multiple residential units, an existing garage apartment, and current tenant occupancy creates a clearly defined multifamily asset.
The property is located at 605-607 East Pease St in Bryan, within walking distance of SFA Middle School and 1.5 miles from Blinn College. Downtown Bryan, local parks, and major roadways are also accessible from the property. The combination of multiple residential units, an existing garage apartment, and current tenant occupancy creates a clearly defined multifamily asset.
Key Highlights
- 3,076‑square‑foot triplex at 605‑607 East Pease St, Bryan, TX 77803
- Built in 1955
- Duplex configuration plus a separate garage apartment
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
$33,068
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
8.29%
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%
$661,360
$661.4K
Cap Rate 7%
$472,400
$472.4K
Cap Rate 9%
$367,422
$367.4K
Market Conditions
NOI Build-Up for 3,076 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
$49.8K $16.20/SF
− Vacancy
−$2.6K −$0.84/SF
EGI
$47.2K $15.36/SF
− OpEx
−$14.2K −$4.61/SF
NOI
$33.1K $10.75/SF
Area
Brazos County, TX
Vacancy
5.20%
Lease Rate
$16.20 /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%
$661,360
Cap Rate 7%
$472,400
Cap Rate 9%
$367,422
Alternative Uses
Best Use
Multifamily LT 5
$472.4K
$413.4K – $551.1K
NOI $33,068 @ 7.0% cap · market cap 8.29%
Second Best
Apartment 5plus
$421.5K
$368.9K – $491.8K
NOI $29,508 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$757.4K
$662.8K – $883.7K
NOI $53,020 @ 7.0% cap · market cap 13.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
536
Businesses Nearby
Explore this area
Business Placement
Demographics for 77803, TX
30,533
Population
10,586
Households
2.9
Avg Household Size
32
Median Age
11%
College-Educated
72%
High-School Grad
13.6 sq mi
ZIP Area
2,245
Density / Sq Mi
$50,953
Median Household Income
$28,651
Median Earnings
$1,106
Median Rent
$141,000
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?
Triplex - Three occupied units include a duplex and separate garage apartment with shared shaded outdoor space.
Where is this triplex located?
The property is located at 605-607 East Pease St Bryan, TX.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 3,076‑square‑foot triplex at 605‑607 East Pease St, Bryan, TX 77803; Built in 1955; Duplex configuration plus a separate garage apartment
