Duplex With Efficiency
New
For Sale
$275,000
617 Grand Avenue, Abilene, TX 79605
Separate efficiency apartment adds flexibility for guests, extended family, or rental use.
Property Size1,524 SF
Price / SF$180.45
Days on Market7
Property Features for 617 Grand Avenue
General Information
Standard status
Active
Size
1,524 SF
Property subtype
Apartment
Building Details
Year Built
1941
Listing Agency:
Absolute Real Estate Mgt.
(325) 307-5697
Listed By:
Terri Scott · License #0720823
(325) 669-6264
Source:
Lonestarluxuryrealty
Added: Aug 12
Changed: Aug 18
Last Checked: Aug 18 at 5:02AM
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 Absolute Real Estate Mgt.
Investment Insights
Based on property information with market context.
This duplex property includes a three-bedroom, two-bathroom main residence with defined living and dining areas, plus a separate efficiency apartment. The main home has central heat and air, while the additional unit uses window units. Both spaces have received updated interior paint and flooring.
Built in 1941, the property offers a residential configuration with a dedicated second living space. Its location provides access to shopping, restaurants, parks, and schools, while the separate apartment can accommodate guests, extended family, or rental use.
Built in 1941, the property offers a residential configuration with a dedicated second living space. Its location provides access to shopping, restaurants, parks, and schools, while the separate apartment can accommodate guests, extended family, or rental use.
Key Highlights
- 3‑bedroom, 2‑bathroom main residence
- Separate efficiency apartment
- 1,524 SF property built in 1941
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
$12,635
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
4.59%
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%
$252,700
$252.7K
Cap Rate 7%
$180,500
$180.5K
Cap Rate 9%
$140,389
$140.4K
Market Conditions
NOI Build-Up for 1,524 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
$19.2K $12.60/SF
− Vacancy
−$1.2K −$0.76/SF
EGI
$18.1K $11.84/SF
− OpEx
−$5.4K −$3.55/SF
NOI
$12.6K $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 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%
$252,700
Cap Rate 7%
$180,500
Cap Rate 9%
$140,389
Alternative Uses
Best Use
Multifamily LT 5
$180.5K
$157.9K – $210.6K
NOI $12,635 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$167.0K
$146.1K – $194.9K
NOI $11,691 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$340.3K
$297.7K – $397.0K
NOI $23,818 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
505
Businesses Nearby
Explore this area
Business Placement
Demographics for 79605, TX
30,239
Population
12,795
Households
2.4
Avg Household Size
35
Median Age
25%
College-Educated
87%
High-School Grad
11.0 sq mi
ZIP Area
2,749
Density / Sq Mi
$59,565
Median Household Income
$33,537
Median Earnings
$1,077
Median Rent
$159,800
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?
Duplex - Separate efficiency apartment adds flexibility for guests, extended family, or rental use.
Where is this duplex located?
The property is located at 617 Grand Avenue Abilene, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 3‑bedroom, 2‑bathroom main residence; Separate efficiency apartment; 1,524 SF property built in 1941
