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    6844-6846-6848 Florance Dr Midlothian, TX 76065

    Sponsored
    For Sale
    $975,000

    Triplex - Midlothian, TX

    Type:Triplex
    Property size:
    5,514 SF
    Lot size:
    1.00 Acre
    Days on Market:
    12
    Last Refresh:
    Feb 27 at 8:06 am

    Property Features for 6844-6846-6848 Florance Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Triplex
    Property condition
    New Construction
    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
    9
    APN
    000000
    Parking
    2
    Parking features
    Driveway, 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
    Size
    5,514 SF
    Lot size
    1.00 Acre

    Taxes and HOA fees

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

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Electric

    Building Details

    Year built
    2026
    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
    Eric Douglas

    MARSHALL REDDICK REAL ESTATE (210) 339-2932

    Listing agent Eric Douglas (949) 885-8180 License #0826890

    Listing date Feb 16, 2026

    MLS# 21180141 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

    Luxury Triplex in Thriving DFW

    This Class-A luxury triplex is an investment opportunity in the DFW market. The new construction asset is built for durability, functionality, and long-term performance. Located in the Edgewood Estates community of Midlothian, Texas, at the corner of 875 and Edgewood Rd, the property is situated on acre lots with low property taxes. The property includes three units, each approximately 1,838 SF, offering 3 bedrooms, 2.5 baths, and an attached 2-car garage. Each unit features a covered patio and private fenced backyard. The property is zoned to Waxahachie ISD. It is conveniently positioned 30 minutes from Downtown Dallas and Fort Worth, and 8–10 minutes from Methodist Midlothian Medical Center, Baylor Scott & White Waxahachie, plus retail and dining options. Easy access to major employment corridors strengthens rental demand. Some units are already pre-leased, and additional first-year property management incentives are available. The property is located at 6844-6846-6848 Florance Drive, Midlothian, TX 76065.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Map

    City
    Midlothian
    County
    Ellis
    State
    Texas
    Longitude
    -96.9884
    Latitude
    32.4665

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    FAQs

    What type of property is this?
    Triplex - Class-A triplex with spacious units and strong tenant amenities.
    Where is this triplex located?
    The property is located at 6844-6846-6848 Florance Dr Midlothian, TX.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: - Builder offering rate buy-down options as low as 4.25% (with builder's lender).; - New construction Class-A luxury triplex on generous acre lots with low property taxes.; - Each unit is approximately 1,838 SF with 3 bedrooms, 2.5 baths, and an attached 2-car garage, plus private fenced backyard and covered patio.
    (830) 822-8222
    Request Owner's contact information
    6844-6846-6848 Florance Dr Midlothian, TX 76065
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    Midlothian, TX 76065
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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
    6844-6846-6848 Florance Dr Midlothian, TX 76065
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    We can help!
    Listing Contact
    Eric Douglas
    Real Estate License ID: 0826890
    (830) 822-8222 (949) 885-8180
    Learn more
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