Single-Story
For Sale
$375,000
608/610 Greenlawn Boulevard, Round Rock, TX 78664
Two one-bedroom residences with tile flooring, central HVAC, and kitchens equipped with ovens and refrigerators.
Property Size1,645 SF
Price / SF$227.96
Days on Market8
Property Features for 608/610 Greenlawn Boulevard
General Information
Standard status
Active
Size
1,645 SF
Property subtype
Duplex
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Building Details
Building Size
1,645 SF
Year Built
1985
Buildings
1
Stories
1
Construction
brick
Listing Agency:
Real Broker, LLC
Listed By:
Reganne Queen · License #0782006
(315) 804-0180
Source:
Denpg
Added: Sep 11
Changed: Sep 15
Last Checked: Sep 17 at 4:09AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This single-story duplex contains two one-bedroom units totaling 1,645 square feet. Both residences feature tile flooring, central electric heating and air conditioning, and kitchens furnished with an oven and refrigerator. The building was constructed in 1985 and has a brick exterior with a composition roof.
The property is located in Round Rock and falls within Round Rock ISD. Shopping, dining, employment centers, and major roadways are identified as convenient points of access from the property. Its two-unit configuration supports either rental ownership or an owner-occupant arrangement.
The property is located in Round Rock and falls within Round Rock ISD. Shopping, dining, employment centers, and major roadways are identified as convenient points of access from the property. Its two-unit configuration supports either rental ownership or an owner-occupant arrangement.
Key Highlights
- Two one‑bedroom units in a single‑story duplex
- 1,645 total square feet
- Tile flooring throughout the units
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
$16,920
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
4.51%
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%
$338,400
$338.4K
Cap Rate 7%
$241,714
$241.7K
Cap Rate 9%
$188,000
$188.0K
Market Conditions
NOI Build-Up for 1,645 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
$28.0K $17.04/SF
− Vacancy
−$3.9K −$2.35/SF
EGI
$24.2K $14.69/SF
− OpEx
−$7.3K −$4.41/SF
NOI
$16.9K $10.29/SF
Area
Round Rock, TX
Vacancy
13.77%
Lease Rate
$17.04 /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%
$338,400
Cap Rate 7%
$241,714
Cap Rate 9%
$188,000
Alternative Uses
Best Use
Multifamily LT 5
$241.7K
$211.5K – $282.0K
NOI $16,920 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$212.2K
$185.7K – $247.5K
NOI $14,852 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$521.1K
$456.0K – $608.0K
NOI $36,480 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Explore this area
Business Placement
Demographics for 78664, TX
60,287
Population
24,259
Households
2.5
Avg Household Size
34
Median Age
35%
College-Educated
90%
High-School Grad
16.6 sq mi
ZIP Area
3,632
Density / Sq Mi
$85,919
Median Household Income
$45,700
Median Earnings
$1,645
Median Rent
$317,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom residences with tile flooring, central HVAC, and kitchens equipped with ovens and refrigerators.
Where is this duplex located?
The property is located at 608/610 Greenlawn Boulevard Round Rock, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two one‑bedroom units in a single‑story duplex; 1,645 total square feet; Tile flooring throughout the units
