Duplex with 3-Bed
357 and 359 Orbit Drive Lavon, TX 75166
357 and 359 Orbit Drive, Lavon, TX, 75166
$465,500
For Sale
$465,500
MULTI_FAMILY - Lavon, TX
Property Size2,536 SF
Lot Size0.12 Acres
Price / SF$183.56
Days on Market9
Property Features for 357 and 359 Orbit Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bathroom 4, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 3
- Parking
- 4
- Parking features
- Garage, Driveway
- Interior features
- EatInKitchen, Pantry, TileCounters
- Appliances
- Dishwasher, ElectricRange
- Standard status
- Active
- APN
- R959100B019B1
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Description
- GRAND HERITAGE - WEST C (CLA), BLK B, LOTS 19A 19B
- Tax Annual Amount
- 4504
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Cooling system
- Electric, Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 2013
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Carpet, Tile
- Building materials
- Brick
- Roof type
- Shingle
Listing Agency
Signature Real Estate
(713) 952-3200
Houston, TX
Listed by
Erion Shehaj · License #0516948
(713) 952-3200
Added: Jul 10 Checked: Jul 18 at 8:06 am
MLS# 21266519
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.
Investment Insights
Based on property information with market context.
This duplex consists of two separate units, each featuring a spacious layout with 3 bedrooms and 2 full bathrooms. Both units include wood-look tile flooring, upgraded fixtures, and a kitchen with tile countertops and a tile backsplash. Additional highlights include a tandem front-entry garage, decorative lighting, and a separate utility room sized to accommodate a full-size washer and dryer. Outside, residents will find an oversized fenced backyard with a sprinkler system and covered porches.
The property is located in the Grand Heritage Subdivision near Lavonia Park, with access to Lake Lavon. Community amenities referenced for the neighborhood include a clubhouse, large community pool, splash pad, fitness center, business center, jogging paths, and playgrounds.
As offered for sale, the duplex is reported to be 50% leased. The lease for unit 357 is scheduled to expire on June 30, creating a practical ownership path for an end-user who wants rental income while planning for one side to become available. The remaining unit lease status is reflected in the “50% leased” positioning in the remarks.
The property is located in the Grand Heritage Subdivision near Lavonia Park, with access to Lake Lavon. Community amenities referenced for the neighborhood include a clubhouse, large community pool, splash pad, fitness center, business center, jogging paths, and playgrounds.
As offered for sale, the duplex is reported to be 50% leased. The lease for unit 357 is scheduled to expire on June 30, creating a practical ownership path for an end-user who wants rental income while planning for one side to become available. The remaining unit lease status is reflected in the “50% leased” positioning in the remarks.
Key Highlights
- Duplex with 50% leased status and strong rental occupancy history; each unit is 1,268 sqft with 3 bedrooms and 2 full bathrooms.
- Lease for unit 357 expires on June 30—option for a live‑in owner while renting the other unit.
- Each unit features a wood‑look tile finish, tile kitchen countertops and backsplash, and upgraded fixtures.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.5k | $30.96 |
| − Vacancy | −$8.4k | −$3.31 |
| EGI | $70.1k | $27.65 |
| − OpEx | −$31.6k | −$12.44 |
| NOI | $38.6k | $15.21 |
2,536 SF · lease $30.96/SF/yr · vacancy 10.70% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$637.0K
$557.4K – $743.2K
NOI $44,592 @ 7.0% cap · market cap 9.58%
Second Best
Apartment 5plus
$550.9K
$482.0K – $642.7K
NOI $38,562 @ 7.0% cap · market cap 8.28%
Theoretical Best
Industrial
$2.52M
$2.20M – $2.94M
NOI $176,395 @ 7.0% cap · market cap 37.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex offered with two income units, including fenced yards and covered porches, with one lease expiring June 30.
Where is this duplex located?
The property is located at 357 and 359 Orbit Drive Lavon, TX.
What is the asking price?
The asking price for this property is $465,500.
What are key features of this property?
This property features: Duplex with 50% leased status and strong rental occupancy history; each unit is 1,268 sqft with 3 bedrooms and 2 full bathrooms.; Lease for unit 357 expires on June 30—option for a live‑in owner while renting the other unit.; Each unit features a wood‑look tile finish, tile kitchen countertops and backsplash, and upgraded fixtures.
