Residential Income Property with
For Sale
$195,000
610 Cross Timbers Drive, College Station, TX 77840
Two-bedroom, two-bath residence with updated systems, private outdoor space, and no HOA restrictions.
Property Size985 SF
Price / SF$197.97
Days on Market10
Property Features for 610 Cross Timbers Drive
General Information
Standard status
Active
Size
985 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,596
Amenities
Yes
Appraiser
Laminate Counters
3990
985
Building Details
Building Size
985 SF
Year Built
1986
Stories
1
Listing Agency:
White House Global Properties
(713) 859-8962
Listed By:
JJ Molaison
(713) 859-8962
Source:
Garygreene
Added: Jul 31
Changed: Aug 8
Last Checked: Aug 9 at 6:33AM
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 White House Global Properties
Investment Insights
Based on property information with market context.
This 985-square-foot residential income property was built in 1986 and offers two bedrooms, two bathrooms, and a private backyard. Interior updates include granite kitchen countertops, lower cabinetry, an oven, dishwasher, fresh paint, closet doors, bathroom vanities, and toilets. The home also has a replacement HVAC system installed in 2022, new windows from 2024, and a new hot water heater installed in 2026.
The property is located on the bus route and sits 3/4 of a mile from the A&M campus. No HOA is associated with the property, providing flexibility for personal occupancy or income-producing use.
The property is located on the bus route and sits 3/4 of a mile from the A&M campus. No HOA is associated with the property, providing flexibility for personal occupancy or income-producing use.
Key Highlights
- Two‑bedroom, two‑bath layout with 985 square feet
- Private backyard and no HOA
- HVAC replaced in 2022; windows replaced in 2024
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
$9,449
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
4.85%
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%
$188,980
$189.0K
Cap Rate 7%
$134,986
$135.0K
Cap Rate 9%
$104,989
$105.0K
Market Conditions
NOI Build-Up for 985 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
$18.1K $18.36/SF
− Vacancy
−$904 −$0.92/SF
EGI
$17.2K $17.44/SF
− OpEx
−$7.7K −$7.85/SF
NOI
$9.4K $9.59/SF
Area
College Station, TX
Vacancy
5.00%
Lease Rate
$18.36 /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%
$188,980
Cap Rate 7%
$134,986
Cap Rate 9%
$104,989
Alternative Uses
Best Use
Apartment 5plus
$135.0K
$118.1K – $157.5K
NOI $9,449 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$242.5K
$212.2K – $283.0K
NOI $16,978 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
525
Businesses Nearby
Explore this area
Business Placement
Demographics for 77840, TX
55,180
Population
25,423
Households
2.2
Avg Household Size
25
Median Age
46%
College-Educated
91%
High-School Grad
10.0 sq mi
ZIP Area
5,518
Density / Sq Mi
$31,278
Median Household Income
$14,521
Median Earnings
$1,085
Median Rent
$241,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath residence with updated systems, private outdoor space, and no HOA restrictions.
Where is this residential income property located?
The property is located at 610 Cross Timbers Drive College Station, TX.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath layout with 985 square feet; Private backyard and no HOA; HVAC replaced in 2022; windows replaced in 2024
