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    1185 Greywood Dr Van Alstyne, TX 75495

    Sponsored
    For Sale
    $485,000

    Duplex - Van Alstyne, TX

    Type:Duplex
    Lot size:
    0.22 Acres
    Days on Market:
    7
    Last Refresh:
    Feb 26 at 7:06 pm

    Property Features for 1185 Greywood Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    5
    Bathrooms
    4
    APN
    135927
    Parking
    6
    Parking features
    Driveway, Garage
    Interior features
    Cable Tv Available, Open Floorplan, Walk-in Closet(s)
    Exterior features
    Private Yard, Fence
    Fencing
    Fenced
    Appliances
    Dishwasher, Garbage Disposer, Ice Maker, Microwave, Range, Refrigerator, Washer
    Lot size
    0.22 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Central, Electric (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Electric

    Building Details

    Year built
    2004
    Floors in Building
    1
    Flooring type
    Tile, Tile - Ceramic
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    K.C. McKeown

    Real Broker LLC (214) 202-7615

    Listing agent K.C. McKeown (855) 450-0442 License #0690463

    Listing date Feb 20, 2026

    MLS# 21182701 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Well-Maintained Duplex in Growing Van Alstyne

    This well-maintained duplex is located in the rapidly growing city of Van Alstyne. The property features two units. One unit includes 3 bedrooms and 2 full bathrooms, while the other offers 2 bedrooms and 2 full bathrooms. The property is suitable for investors or owner-occupants seeking rental income. Each unit features a functional, open-concept layout with spacious living areas and durable tile flooring throughout the main spaces. The bedrooms are generously sized, and the bathrooms are well-appointed. Both units include a private fenced backyard and an attached garage. Dedicated utility space allows for full-size washer and dryer. The property is located minutes from Sanford Elementary School. It offers convenient access to US-75 for commuting to McKinney, Sherman, and surrounding areas. The property sits on a lot of 0.22 acres. The property offers flexibility, functionality, and long-term potential. It is located in Grayson County, Texas, with the postal code 75495.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Gym & Fitness Center Nail Salon Building Supply Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Van Alstyne
    County
    Grayson
    State
    Texas
    Longitude
    -96.58572
    Latitude
    33.430956

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    FAQs

    What type of property is this?
    Duplex - Duplex with rental income potential in a thriving North Texas community.
    Where is this duplex located?
    The property is located at 1185 Greywood Dr Van Alstyne, TX.
    What is the asking price?
    The asking price for this property is $485,000.
    What are key features of this property?
    This property features: - Duplex property offers income potential for investors or owner-occupants.; - Two units: **one with 3 bedrooms/2 baths, and one with 2 bedrooms/2 baths.**; - Located in rapidly growing Van Alstyne, near Sanford Elementary and with easy access to US-75.
    (512) 960-3253
    Request Owner's contact information
    1185 Greywood Dr Van Alstyne, TX 75495
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    Van Alstyne, TX 75495
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1185 Greywood Dr Van Alstyne, TX 75495
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    We can help!
    Listing Contact
    K.C. McKeown
    Real Estate License ID: 0690463
    (512) 960-3253 (855) 450-0442 (509) 551-4884
    Learn more
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