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    New Construction Luxury Duplex Title is generated by Realmo AI

    6648-6650 Florence Drive, Midlothian, TX 76065

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    For Sale
    Under Contract
    $699,000

    Duplex - Midlothian, TX

    Type:Duplex
    Lot size:
    1.01 Acres
    Added:
    Apr 15, 2026
    Days on Market:
    42
    Last Refresh:
    May 26 at 4:06 am

    Property Features for 6648-6650 Florence Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Property condition
    New Construction
    Bedrooms
    8
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    2
    Parking features
    Garage
    Interior features
    Double Vanity, Granite Counters, Kitchen Island, Pantry, Walk-in Closet(s)
    Exterior features
    Fence
    Fencing
    Fenced
    Appliances
    Dishwasher, Garbage Disposer, Microwave, Range, Washer
    Standard status
    Active Under Contract
    APN
    309642
    Lot size
    1.01 Acres

    Taxes and HOA fees

    Expense value
    1065
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Ceiling Fan(s), Electric

    Building Details

    Year built
    2026
    Floors in Building
    1
    Flooring type
    Carpet, Vinyl
    Building materials
    Brick, Stone, Stone Veneer
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Erion Shehaj

    Listing agent Erion Shehaj License #0516948

    Listing office Signature Real Estate 13910 Champions Forest Dr #103, Houston, TX

    Listing date Apr 15, 2026

    MLS# 21227292 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

    • New construction luxury duplex in a high‑growth DFW market with low property taxes.
    • Attractive financing option: 4.25% financing available through preferred lender for a limited time.
    • Each unit features 4 bedrooms, 2 baths, 2‑car garage, covered patio, and fenced backyard.
    • Located near major economic drivers, including Google Data Centers and two hospitals.
    • Proven rental income of $2,450 per unit per month with professional property management in place at 5%.
    • Convenient location: 30‑minute drive to Downtown Dallas and Fort Worth, and close to retail, dining, and healthcare facilities.

    Overview

    This new construction luxury duplex presents a prime investment opportunity. Located in Midlothian, Texas, within the Edgewood Estates, the property sits on a 1-acre lot and features two units, each offering 1653 square feet of living space. Each unit includes 4 bedrooms, 2 baths, and a 2-car garage, all on one level. The duplex is currently under construction with an estimated completion date of August-September 2026. Each unit also features a covered patio and a fenced-in backyard. The property is zoned to Waxahachie ISD schools. Its location provides convenient access to major employers and is a short drive from Methodist Midlothian Health and Baylor Scott and White in Waxahachie, as well as retail and dining options in both Midlothian and Waxahachie. Midlothian is approximately a 30-minute drive to Downtown Dallas and Fort Worth. The area benefits from major economic drivers, including the $1.6B Google Data Centers project and two nearby hospitals. Professional property management is in place at a rate of 5%.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Midlothian
    County
    Ellis
    State
    Texas
    Longitude
    -96.991821
    Latitude
    32.475811

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    FAQs

    What type of property is this?
    Duplex - New construction duplex in Midlothian, TX, estimated completion August-September 2026.
    Where is this duplex located?
    The property is located at 6648-6650 Florence Drive Midlothian, TX.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: New construction luxury duplex in a high‑growth DFW market with low property taxes.; Attractive financing option: **4.25% financing available** through preferred lender for a limited time.; Each unit features **4 bedrooms, 2 baths, 2‑car garage, covered patio, and fenced backyard.**
    (713) 952-3200
    We can help!
    Listing Contact
    Erion Shehaj
    Real Estate License ID: 0516948
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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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