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    Brick Fourplex Investment Property Title is generated by Realmo AI

    455 Neals Hill Road, Oak Ridge, TX 76240

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    Claim this Listing
    For Sale
    $1,600,000

    MULTI_FAMILY - Oak Ridge, TX

    Property size:
    9,648 SF
    Lot size:
    0.65 Acres
    Price / SF:
    $165/SF
    Added:
    May 25, 2026
    Days on Market:
    12
    Last Refresh:
    Jun 5 at 1:06 pm

    Property Features for 455 Neals Hill Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    16
    Bathrooms
    16
    Rooms
    Bedroom 11, Bedroom 8, Bedroom 4, Bedroom 9, Bathroom 13, Bathroom 6, Bathroom 8, Bathroom 16, Bathroom 9, Bathroom 11, Bathroom 10, Bathroom 1, Bathroom 5, Bathroom 7, Bedroom 2, Bathroom 14, Bedroom 16, Bedroom 5, Bedroom 15, Bedroom 14, Bedroom 10, Bathroom 3, Bedroom 6, Bathroom 15, Bedroom 1, Bedroom 7, Bathroom 2, Bedroom 12, Bathroom 4, Bathroom 12, Bedroom 3, Bedroom 13
    Parking
    16
    Parking features
    Garage, Carport
    Interior features
    GraniteCounters
    Appliances
    Dryer, Dishwasher, ElectricRange, Disposal, Microwave, Refrigerator, Washer
    Standard status
    Active
    APN
    69326
    Size
    9,648 SF
    Lot size
    0.65 Acres

    Taxes and HOA fees

    Tax Description
    WIMMER ADDN; LOT 43

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    2015
    Floors in Building
    1
    Number of units
    8
    Flooring type
    Vinyl, Carpet, Tile
    Building materials
    Brick, FiberCement
    Roof type
    Composition

    We can help!

    Listing Contact
    Abdul Jameel Abdur Rahman

    Listing agent Abdul Jameel Abdur Rahman License #0738887

    Listing office My Dream Home Helpers Realty Southlake, TX

    Listing date May 25, 2026

    MLS# 21122292 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.

    HighLights

    • Two fourplexes totaling 8 units, built in 2015
    • Fully brick construction with fiber cement materials and composition roof
    • Covered porches and 2‑car carports for each unit
    • Granite countertops with stone backsplash and crown molding
    • All appliances included in each unit, including washer and dryer
    • Public water and public sewer connected

    Overview

    This offering consists of two fourplex buildings totaling eight residential units. Both properties are fully brick and were built in 2015, with covered porches for added curb appeal and tenant comfort. Unit interiors include granite countertops, a stone backsplash, crown molding, and trey ceilings. Each unit is provided with appliances, including washer and dryer, supporting straightforward move-in. Parking is supported by two-car carports for each fourplex. Additional storage has been built for each unit, providing practical space for tenant needs and everyday organization.

    The property is located at 455 Neals Hill Road in Oak Ridge, Texas, in Cooke County. The listing notes the asset is approximately one hour north of Dallas, about 20 minutes from Winstar, and roughly 15 minutes from Gainesville or Sherman, with area lakes also described as nearby.

    Designed for investors seeking multi-unit rental income, this turnkey configuration can appeal to operators who prioritize maintenance-friendly construction and amenity-ready units. The combination of in-unit laundry, covered outdoor space, and dedicated storage may help reduce turnover friction and support tenant satisfaction across all eight units.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Oak Ridge
    County
    Cooke
    State
    Texas
    Longitude
    -97.037458
    Latitude
    33.647344

    Nearby Similar for Sale

    • $490,000
      2,718 SF

      Well-Maintained Triplex with Storage

      Built in 2013, this three-unit triplex offers covered porches, covered parking, and updated finishes with in-unit appliances.
      457 Neals Hill Road, Oak Ridge, TX 76240
      View Details
    • $1,475,000
      8,154 SF

      Three Triplex Income Property

      Three well-maintained triplexes with covered porches and multiple carports, offering an income-focused rental setup within a gated community.
      716 ROCKY RIDGE FLATTS Road, Oak Ridge, TX 76240
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    FAQs

    What type of property is this?
    Apartment building - Two well-maintained fourplexes offer fully equipped units with covered porches and on-site storage.
    Where is this apartment building located?
    The property is located at 455 Neals Hill Road Oak Ridge, TX.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: Two fourplexes totaling 8 units, built in 2015; Fully brick construction with fiber cement materials and composition roof; Covered porches and 2‑car carports for each unit
    (214) 264-2737
    We can help!
    Listing Contact
    Abdul Jameel Abdur Rahman
    Real Estate License ID: 0738887
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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.

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