Garden-Style Apartment
For Sale
$3,795,000
611 S Ennis Street, Bryan, TX 77803
MULTI_FAMILY - Bryan, TX
Property Size35,678 SF
Lot Size1.40 Acres
Price / SF$106.37
Days on Market95
Property Features for 611 S Ennis Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
B12
Parking
72
Parking features
Covered
Exterior features
Garden Area, Sprinkler System, Storage Shed
Fencing
Privacy
Subdivision
Phillips
Elementary school district
Bryan
Middle school district
Bryan
High school district
Bryan
Directions
Texas Avenue North. Right on E 32nd. Left on Ennis. Sonoma Terrace is on the right at the corner of E 31st and Ennis.
Standard status
Active
APN
611 Ennis B12
Size
35,678 SF
Lot size
1.40 Acres
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Amenities
laminate wood flooring
central HVAC
in-unit washer/dryer
original brick accent walls
central garden area
courtyard access
on-site maintenance storage rooms
Building Details
Year built
1969
Floors in Building
2
Number of units
20
Flooring type
Laminate
Roof type
Shingle, Composition
Additional Structures
Storage
Listing Agency:
RE/MAX 2020 · RE/MAX International
(979) 383-2020
Listed By:
Chad Hovde · License #60817
(979) 450-4347
Added: May 6
Changed: Aug 3
Last Checked: Aug 8 at 3:06PM
MLS# 26005166
Copyright © 2026 Bryan-College Station Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 36-unit garden-style apartment property occupies 35,678 square feet on 1.4008 acres. The apartments include laminate flooring in central living areas, central HVAC, and private laundry closets equipped for in-unit washer and dryer use. Recent interior and exterior updates complement the existing layouts, while select residences feature original brick accent walls. First-floor apartments open directly toward the courtyard. The property also includes two maintenance storage rooms, a sprinkler system, privacy fencing, and a composition shingle roof.
A landscaped central garden with mature oak trees provides a shared outdoor area for residents. Parking is arranged at approximately two spaces per apartment, with both covered and uncovered spaces allocated on a first-come, first-served basis. The property is located at 611 S Ennis Street in Bryan, within the Bryan Historic District and near the Downtown Bryan corridor. B12 zoning is also identified for the property.
A landscaped central garden with mature oak trees provides a shared outdoor area for residents. Parking is arranged at approximately two spaces per apartment, with both covered and uncovered spaces allocated on a first-come, first-served basis. The property is located at 611 S Ennis Street in Bryan, within the Bryan Historic District and near the Downtown Bryan corridor. B12 zoning is also identified for the property.
Key Highlights
- 36‑unit apartment property on 1.4008 acres
- 35,678‑square‑foot garden‑style apartment complex
- B12 zoning in Bryan’s Historic District
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
$342,263
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
9.02%
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%
$6,845,260
$6.8M
Cap Rate 7%
$4,889,471
$4.9M
Cap Rate 9%
$3,802,922
$3.8M
Market Conditions
NOI Build-Up for 35,678 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
$655.0K $18.36/SF
− Vacancy
−$32.8K −$0.92/SF
EGI
$622.3K $17.44/SF
− OpEx
−$280.0K −$7.85/SF
NOI
$342.3K $9.59/SF
Area
Brazos County, 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%
$6,845,260
Cap Rate 7%
$4,889,471
Cap Rate 9%
$3,802,922
Alternative Uses
Best Use
Apartment 5plus
$4.89M
$4.28M – $5.70M
NOI $342,263 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.79M
$7.69M – $10.25M
NOI $614,975 @ 7.0% cap · market cap 16.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
36
Residential units
Location Intelligence
Trade Area within ½ mile
691
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Updated multifamily property with private laundry, central HVAC, landscaped courtyards, and covered parking.
Where is this apartment building located?
The property is located at 611 S Ennis Street Bryan, TX.
What is the asking price?
The asking price for this property is $3,795,000.
What are key features of this property?
This property features: 36‑unit apartment property on 1.4008 acres; 35,678‑square‑foot garden‑style apartment complex; B12 zoning in Bryan’s Historic District
