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    Four Fourplex Apartment Buildings Title is generated by Realmo AI

    5256 County Road 803, Joshua, TX 76058

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    Claim this Listing
    New
    For Sale
    $2,600,000

    MULTI_FAMILY - Joshua, TX

    Lot size:
    7.93 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 4 at 3:06 pm

    Property Features for 5256 County Road 803

    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
    32
    Parking features
    Carport
    Interior features
    OpenFloorplan, WalkInClosets
    Appliances
    ElectricRange, Microwave, Refrigerator
    Standard status
    Active
    APN
    126-3390-01025
    Lot size
    7.93 Acres

    Utilities

    Sewer type
    Aerobic Septic
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric, Central Air, Ceiling Fan(s)

    Building Details

    Year built
    2024
    Floors in Building
    1
    Number of units
    16
    Flooring type
    Concrete, Tile
    Building materials
    Brick
    Roof type
    Metal

    We can help!

    Listing Contact
    Rebecca Smith

    Listing agent Rebecca Smith

    Listing office Dalton Wade, Inc. Atlanta, TX

    Listing date Jun 4, 2026

    MLS# 21289495 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

    • 16‑unit multifamily property in four fourplex buildings; all units currently leased on one‑year lease agreements
    • All units are 1 bedroom, 1 bathroom with vaulted ceilings and an open floorplan design
    • 2024 construction with brick exterior and metal roofing
    • Aerobic septic system servicing the property
    • Each unit has a dedicated utility room with full‑size washer and dryer connections
    • 6.92 acres of grassland plus covered two‑car carport parking with concrete beneath

    Overview

    The property includes four fourplex buildings totaling 16 residential units. The units are one-bedroom, one-bath layouts featuring vaulted ceilings that vary by unit, including select vaulted wood ceilings and others with vaulted tin ceilings. Interiors include stained concrete and tile flooring, with interior wood walls adding warmth throughout. Each unit is designed with a dedicated utility room that provides full-size washer and dryer connections, and all units include a covered two-car carport with concrete parking beneath. Roofing is provided by seamless metal roofs intended for durability and low maintenance. The buildings were constructed between 2021 and 2026, and the property is served by an aerobic septic system.

    Access is provided via gravel driveways, supporting the property’s rural setting and overall layout. The parcel totals 7.93 acres and includes additional grassland acreage that provides flexibility for future uses.

    For buyers seeking a residential income asset, the property is currently fully leased with one-year lease agreements in place for all 16 units, supporting immediate occupancy. The mix of vaulted ceiling finishes, in-unit laundry connections, and covered parking can appeal to tenants looking for self-contained convenience within a modern, newer-build fourplex configuration.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Kitchen & Bath Showroom Plumbing Service Pet Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Joshua
    County
    Johnson
    State
    Texas
    Longitude
    -97.352109
    Latitude
    32.443239

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    FAQs

    What type of property is this?
    Quadplex - Sixteen leased one-bedroom units across four fourplex buildings with covered parking and dedicated laundry connections.
    Where is this quadplex located?
    The property is located at 5256 County Road 803 Joshua, TX.
    What is the asking price?
    The asking price for this property is $2,600,000.
    What are key features of this property?
    This property features: 16‑unit multifamily property in four fourplex buildings; all units currently leased on one‑year lease agreements; All units are 1 bedroom, 1 bathroom with vaulted ceilings and an open floorplan design; 2024 construction with brick exterior and metal roofing
    (727) 888-4175
    We can help!
    Listing Contact
    Rebecca Smith
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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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