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    The Largest CRE Database in the US with Over 1 Million Listings

    640-642-644-646 Fallow Dr Venus, TX 76084

    Sponsored
    For Sale
    $845,000

    Quadruplex - Venus, TX

    Type:Quadruplex
    Lot size:
    0.18 Acres
    Days on Market:
    6
    Last Refresh:
    Feb 16 at 4:06 am

    Property Features for 640-642-644-646 Fallow Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Quadruplex
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    9
    Bathrooms
    8
    APN
    284034
    Parking
    4
    Parking features
    Garage
    Interior features
    Eat-in Kitchen, Granite Counters, Kitchen Island, Open Floorplan, Pantry, Walk-in Closet(s)
    Appliances
    Dishwasher, Garbage Disposer, Microwave, Range, Washer
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Expense value
    1800
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    2023
    Floors in Building
    2
    Flooring type
    Carpet, Vinyl
    Building materials
    Brick, Stone, Stone Veneer
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Erion Shehaj

    Signature Real Estate (713) 952-3200

    Listing agent Erion Shehaj (713) 952-3200 License #0516948

    Listing date Feb 11, 2026

    MLS# 21176491 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

    New Fourplex in Heritage Hills

    This Class-A fourplex, constructed in 2023, presents a prime investment opportunity in the Heritage Hills neighborhood of Venus, Texas. The property is zoned to Midlothian Schools and is located approximately 30 minutes from both Dallas and Fort Worth. The fourplex contains four units: a larger 3-bed 2-bath flat on the ground floor, a 2-bed 2-bath flat on the second floor, and two townhouse-style 2-bed 1.5-bath units. Each unit includes a dedicated one-car garage. Interior finishes include granite kitchen countertops with tiled backsplash, recessed and pendant lighting over the breakfast bar, wood-look plank tile flooring, upgraded carpet, and a walk-in master shower. All units are currently leased to long-term tenants at $1,795, $1,695, $1,595, and $1,495 per month, respectively. The property has a low 2.4% tax rate and HOA dues of $1,500 per year. The property is located near major economic drivers such as the $1.6B Google Data Centers project and two nearby hospitals. The lot size is 0.18 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Map

    City
    Venus
    County
    Johnson
    State
    Texas
    Longitude
    -97.080935
    Latitude
    32.44912

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    FAQs

    What type of property is this?
    Quadplex - Built in 2023, four units, fully leased, great location.
    Where is this quadplex located?
    The property is located at 640-642-644-646 Fallow Dr Venus, TX.
    What is the asking price?
    The asking price for this property is $845,000.
    What are key features of this property?
    This property features: - Turnkey Class-A fourplex built in 2023, offering immediate rental income.; - Located in the highly sought-after Heritage Hills neighborhood, zoned to highly rated Midlothian Schools.; - Fully leased with long-term tenants, generating a total monthly income of $6,580.
    (713) 952-3200
    Request Owner's contact information
    640-642-644-646 Fallow Dr Venus, TX 76084
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    Venus, TX 76084
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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
    640-642-644-646 Fallow Dr Venus, TX 76084
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    We can help!
    Listing Contact
    Erion Shehaj
    Real Estate License ID: 0516948
    (713) 952-3200 (713) 922-2702
    Learn more
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