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    Modern Full Duplex Investment Title is generated by Realmo AI

    640-644 Wheatfield, Venus, TX 76084

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    Claim this Listing
    For Sale
    $678,000

    MULTI_FAMILY - Venus, TX

    Lot size:
    0.19 Acres
    Added:
    Apr 29, 2026
    Days on Market:
    39
    Last Refresh:
    Jun 6 at 12:06 pm

    Property Features for 640-644 Wheatfield

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    8
    Bathrooms
    6
    Rooms
    Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 1, Bathroom 4, Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 5, Bedroom 6, Bathroom 1, Bedroom 8, Bathroom 6, Bedroom 7
    Parking
    4
    Parking features
    Garage
    Interior features
    GraniteCounters, KitchenIsland, OpenFloorplan, Pantry, WalkInClosets
    Appliances
    Dishwasher, ElectricRange, ElectricWaterHeater, Disposal
    Standard status
    Active
    APN
    296871
    Lot size
    0.19 Acres

    Utilities

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

    Building Details

    Year built
    2023
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Carpet, Vinyl
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Latoya Stevens

    Listing agent Latoya Stevens License #0548440

    Listing office BLVD Group Irving, TX

    Listing date Apr 29, 2026

    MLS# 21237362 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

    • 2023‑built full duplex with two residences
    • Each side offers 4 bedrooms and 2.5 bathrooms with a bright open floor plan
    • Granite countertops, kitchen island, pantry, and walk‑in closets
    • Central air and electric heating; brick construction; composition roof
    • Fenced backyards on both sides and garage parking
    • Public water and public sewer

    Overview

    This full duplex offers two spacious, separate residences under one ownership structure, designed for contemporary living. Each unit features four bedrooms and 2.5 bathrooms, along with a bright open floor plan that supports everyday comfort and flexible use of the living and dining space. Finishes include granite countertops and sleek, modern details throughout. From the interior layout, residents can step out to private fenced backyards, creating a practical outdoor area for relaxing or entertaining.

    Located in Venus, Texas within Ellis County, the property is positioned on a compact lot size suitable for a focused, low-maintenance duplex setup. The duplex addresses the 640-644 Wheatfield address range, providing straightforward access to both residences as part of a single building.

    For buyers, this configuration is well suited to an owner-occupant looking to live in one side while generating rental income from the other. It can also serve as a straightforward addition to an investor’s portfolio, pairing two functional, modern units in a single offering. With the open layouts, granite kitchen counters, and private fenced outdoor space, the property supports strong day-to-day livability for prospective tenants as well.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Storage Facility HVAC Service Discount Store Car Rental Facility Wine and Liquor Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Venus
    County
    Johnson
    State
    Texas
    Longitude
    -97.081845
    Latitude
    32.44968

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    • $519,000

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    FAQs

    What type of property is this?
    Duplex - Two bright, open residences with granite finishes and private fenced backyards offer an attractive owner or rental strategy.
    Where is this duplex located?
    The property is located at 640-644 Wheatfield Venus, TX.
    What is the asking price?
    The asking price for this property is $678,000.
    What are key features of this property?
    This property features: 2023‑built full duplex with two residences; Each side offers 4 bedrooms and 2.5 bathrooms with a bright open floor plan; Granite countertops, kitchen island, pantry, and walk‑in closets
    (214) 308-1363
    We can help!
    Listing Contact
    Latoya Stevens
    Real Estate License ID: 0548440
    Learn More
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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
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