Brick Duplex with Covered
For Sale
$229,000
735 Anderson Road, Reno, TX 75462
Two-unit residential property with one occupied unit and one available for immediate use or showing.
Property Size1,896 SF
Price / SF$120.78
Days on Market167
Property Features for 735 Anderson Road
General Information
Standard status
Active
Size
1,896 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Occupancy
50%
Additional Details
Multifamily Units
2
Amenities
Ceiling Fan(s), Central Air, Electric
Central
Laminate
Dishwasher, Disposal, Electric Range, Gas Water Heater
Open Floorplan
No
Metal
One
Chain Link
Covered Patio/Porch
1
Slab
Public Records
2
Brick
Building Details
Year Built
1997
Buildings
1
Construction
brick
Listing Agency:
Century 21 Harvey Properties-P
(214) 552-8999
Listed By:
Matt Coyle · License #0712258
(214) 552-8999
Source:
Compass
Added: Mar 19
Changed: Aug 31
Last Checked: Aug 31 at 10:21PM
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 Century 21 Harvey Properties-P
Investment Insights
Based on property information with market context.
Built in 1997, this brick duplex contains 1,896 square feet across two residential units. One unit is occupied while the second is vacant, providing flexibility for an owner occupant, leasing, or immediate showings. The interior layout includes an open floorplan, laminate flooring, ceiling fans, central air, and electric service. Kitchens are equipped with dishwashers, disposals, electric ranges, and gas water heaters.
Exterior features include a covered patio or porch, chain-link fencing, a slab foundation, and brick construction. The property is located at 735 Anderson Road in Reno, Texas, with access to shopping, dining, local amenities, and major routes. Updating is needed, while the existing two-unit configuration and physical improvements provide a defined starting point for future work.
Exterior features include a covered patio or porch, chain-link fencing, a slab foundation, and brick construction. The property is located at 735 Anderson Road in Reno, Texas, with access to shopping, dining, local amenities, and major routes. Updating is needed, while the existing two-unit configuration and physical improvements provide a defined starting point for future work.
Key Highlights
- 1,896‑square‑foot duplex built in 1997
- Two residential units with one occupied and one vacant
- Brick construction with slab foundation
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
$15,305
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
6.68%
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%
$306,100
$306.1K
Cap Rate 7%
$218,643
$218.6K
Cap Rate 9%
$170,056
$170.1K
Market Conditions
NOI Build-Up for 1,896 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
$23.4K $12.36/SF
− Vacancy
−$1.6K −$0.83/SF
EGI
$21.9K $11.53/SF
− OpEx
−$6.6K −$3.46/SF
NOI
$15.3K $8.07/SF
Area
Lamar County, TX
Vacancy
6.70%
Lease Rate
$12.36 /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%
$306,100
Cap Rate 7%
$218,643
Cap Rate 9%
$170,056
Alternative Uses
Best Use
Multifamily LT 5
$218.6K
$191.3K – $255.1K
NOI $15,305 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$197.1K
$172.5K – $229.9K
NOI $13,796 @ 7.0% cap · market cap 6.02%
Theoretical Best
Hotel Hospitality
$1.43M
$1.25M – $1.67M
NOI $99,967 @ 7.0% cap · market cap 43.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Explore this area
Business Placement
Demographics for 75462, TX
12,016
Population
4,717
Households
2.5
Avg Household Size
43
Median Age
29%
College-Educated
90%
High-School Grad
192.7 sq mi
ZIP Area
62
Density / Sq Mi
$72,576
Median Household Income
$41,284
Median Earnings
$961
Median Rent
$226,800
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 - Two-unit residential property with one occupied unit and one available for immediate use or showing.
Where is this duplex located?
The property is located at 735 Anderson Road Reno, TX.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: 1,896‑square‑foot duplex built in 1997; Two residential units with one occupied and one vacant; Brick construction with slab foundation
