Renovated Two-Unit
New
For Sale
$569,000
109 Wilshire Drive, Euless, TX 76040
Renovated two-unit property with leased residences and updated interior finishes.
Property Size2,784 SF
Days on Market3
Property Features for 109 Wilshire Drive
General Information
Standard status
Active
Size
2,784 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Building Size
2,784 SF
Year Built
1979
Buildings
1
Tenancy
Multi
Listing Agency:
Legacy Streets
(972) 989-4277
Listed By:
Samy Eskander · License #0730278
Source:
Soldbywes
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 12:04PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Legacy Streets
Investment Insights
Based on property information with market context.
This full duplex contains two separate residences, each offering 2 bedrooms and 2 full bathrooms. Both units have vaulted ceilings, oversized primary bedrooms, fresh paint, new flooring, granite countertops in the kitchens and bathrooms, and updated appliances and fixtures. The property was built in 1979 and includes the addresses 109 and 111 Wilshire Drive.
Both sides are currently leased. The property is located in Euless, with access to DFW Airport, highways, schools, and shopping described as minutes away.
Both sides are currently leased. The property is located in Euless, with access to DFW Airport, highways, schools, and shopping described as minutes away.
Key Highlights
- Two‑unit duplex with both residences leased
- Each unit includes 2 bedrooms and 2 full bathrooms
- Vaulted ceilings and oversized primary bedrooms in both units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,972
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$419,440
$419.4K
Cap Rate 7%
$299,600
$299.6K
Cap Rate 9%
$233,022
$233.0K
Market Conditions
NOI Build-Up for 2,784 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.7K $12.12/SF
− Vacancy
−$3.8K −$1.36/SF
EGI
$30.0K $10.76/SF
− OpEx
−$9.0K −$3.23/SF
NOI
$21.0K $7.53/SF
Area
Tarrant County, TX
Vacancy
11.21%
Lease Rate
$12.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$419,440
Cap Rate 7%
$299,600
Cap Rate 9%
$233,022
Alternative Uses
Best Use
Multifamily LT 5
$299.6K
$262.2K – $349.5K
NOI $20,972 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$260.5K
$227.9K – $303.9K
NOI $18,232 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$979.3K
$856.9K – $1.14M
NOI $68,553 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
841
Businesses Nearby
Explore this area
Business Placement
Demographics for 76040, TX
31,899
Population
12,912
Households
2.5
Avg Household Size
35
Median Age
30%
College-Educated
88%
High-School Grad
7.8 sq mi
ZIP Area
4,090
Density / Sq Mi
$69,683
Median Household Income
$41,493
Median Earnings
$1,245
Median Rent
$281,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated two-unit property with leased residences and updated interior finishes.
Where is this duplex located?
The property is located at 109 Wilshire Drive Euless, TX.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences leased; Each unit includes 2 bedrooms and 2 full bathrooms; Vaulted ceilings and oversized primary bedrooms in both units
