Two-Unit
For Sale
$347,000
2916 Hemphill Street, Greenville, TX 75401
ResidentialIncome, Greenville, TX
Property Size1,820 SF
Lot Size0.12 Acres
Price / SF$190.66
Days on Market45
Property Features for 2916 Hemphill Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 3
Parking
4
Parking features
Driveway, Garage
Interior features
WalkInClosets
Exterior features
Lighting, RainGutters
Appliances
Dishwasher, ElectricRange, Disposal, Microwave
Subdivision
Orig Town Of Greenville
Elementary school
Bowie
Middle school
Greenville
High school
Greenville
Elementary school district
Greenville ISD
Middle school district
Greenville ISD
High school district
Greenville ISD
Directions
See GPS for best and most personalized directions
Standard status
Active
APN
71809
Size
1,820 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
S4385 ORIG TOWN OF GREENVILLE BLK 215 LOT 5 A
Tax Annual Amount
597
Legal Description
S4385 ORIG TOWN OF GREENVILLE BLK 215 LOT 5 A
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric, Ceiling Fan(s)
Water source
Public
Amenities
washer/dryer connections
private yard
Building Details
Year built
2026
Floors in Building
1
Number of units
2
Flooring type
Carpet, Tile, Vinyl
Roof type
Composition
Listing Agency:
Texas Urban Living Realty
(214) 823-7783
Listed By:
Jess Miller Miller · License #0702589
(214) 823-7783
Added: Jul 17
Changed: Aug 25
Last Checked: Aug 30 at 2:06PM
MLS# 21291220
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.
Investment Insights
Based on property information with market context.
This duplex contains two residential units within 1,820 square feet, with each unit offering three bedrooms, two bathrooms, washer and dryer connections, walk-in closets, and private yard space. Interior features include vinyl, carpet, and tile flooring, electric central heating and cooling, ceiling fans, and kitchens equipped with a microwave, electric range, dishwasher, and disposal. The property also includes rain gutters, exterior lighting, a composition roof, and garage and driveway parking.
The 0.115-acre corner lot is served by public water and public sewer. Downtown Greenville is approximately a 4 minute drive away, while Rockwall is about 30 minutes from the property. The address is 2916 Hemphill Street, Greenville, TX 75401.
The 0.115-acre corner lot is served by public water and public sewer. Downtown Greenville is approximately a 4 minute drive away, while Rockwall is about 30 minutes from the property. The address is 2916 Hemphill Street, Greenville, TX 75401.
Key Highlights
- Two residential units, each with 3 bedrooms and 2 bathrooms
- 1,820 square feet on a 0.115‑acre corner lot
- Private yard space provided for each unit
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
$27,675
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
7.98%
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%
$553,500
$553.5K
Cap Rate 7%
$395,357
$395.4K
Cap Rate 9%
$307,500
$307.5K
Market Conditions
NOI Build-Up for 1,820 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
$56.3K $30.96/SF
− Vacancy
−$6.0K −$3.31/SF
EGI
$50.3K $27.65/SF
− OpEx
−$22.6K −$12.44/SF
NOI
$27.7K $15.21/SF
Area
Hunt County, TX
Vacancy
10.70%
Lease Rate
$30.96 /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%
$553,500
Cap Rate 7%
$395,357
Cap Rate 9%
$307,500
Alternative Uses
Best Use
Multifamily LT 5
$457.2K
$400.0K – $533.4K
NOI $32,002 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$395.4K
$345.9K – $461.3K
NOI $27,675 @ 7.0% cap · market cap 7.98%
Theoretical Best
Industrial
$1.81M
$1.58M – $2.11M
NOI $126,592 @ 7.0% cap · market cap 36.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
898
Businesses Nearby
Explore this area
Business Placement
Demographics for 75401, TX
19,550
Population
9,067
Households
2.2
Avg Household Size
34
Median Age
14%
College-Educated
82%
High-School Grad
108.1 sq mi
ZIP Area
181
Density / Sq Mi
$57,335
Median Household Income
$33,244
Median Earnings
$1,157
Median Rent
$163,100
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?
Duplex - Corner-lot configuration includes separate private yards, garage and driveway parking, and no owners’ association.
Where is this duplex located?
The property is located at 2916 Hemphill Street Greenville, TX.
What is the asking price?
The asking price for this property is $347,000.
What are key features of this property?
This property features: Two residential units, each with 3 bedrooms and 2 bathrooms; 1,820 square feet on a 0.115‑acre corner lot; Private yard space provided for each unit
