Duplex with Two Private
1179 Greywood Drive Van Alstyne, TX 75495
1179 Greywood Drive, Van Alstyne, TX, 75495
$485,000
For Sale
$485,000
Well-maintained duplex with two units featuring private fenced backyards, attached garages, and dedicated laundry space.
Property Size2,200 SF
Price / SF$220.45
Days on Market152
Property Features for 1179 Greywood Drive
General Information
- Standard status
- Active
- Size
- 2,200 SF
- Property subtype
- Multi-Family / Full Duplex
Building Details
- Year Built
- 2004
Listing agency
Real Broker, LLC
(509) 551-4884
Listed by
K.C. McKeown · License #0690463
(509) 551-4884
Source
Compass
Added: Feb 20 Updated: Jul 21 at 3:02AM Checked: Jul 21 at 3:02AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This well-maintained duplex offers two separate units, each with an open-concept living area and durable tile flooring in the main spaces. Unit features include generously sized bedrooms and well-appointed bathrooms. Both units have private fenced backyards for outdoor use and include an attached garage for added convenience and storage. Dedicated utility space supports full-size washer and dryer.
The property is in the heart of rapidly growing Van Alstyne, with access to US-75 for commuting to McKinney, Sherman, and surrounding areas. It is also described as being just minutes from Sanford elementary school.
Each unit’s configuration supports independent living with two full bathrooms per unit and dedicated laundry facilities, making the layout suitable for a range of residential income or owner-occupant strategies.
The property is in the heart of rapidly growing Van Alstyne, with access to US-75 for commuting to McKinney, Sherman, and surrounding areas. It is also described as being just minutes from Sanford elementary school.
Each unit’s configuration supports independent living with two full bathrooms per unit and dedicated laundry facilities, making the layout suitable for a range of residential income or owner-occupant strategies.
Key Highlights
- Duplex with 2 units in one‑story brick construction, built in 2004 (slab foundation).
- Unit mix: one 3BD/2BA and one 2BD/2BA, both with open floorplans and ceramic tile flooring in main spaces.
- Each unit includes private fenced backyard space plus an attached garage for parking and storage.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.2k | $12.36 |
| − Vacancy | −$3.1k | −$1.41 |
| EGI | $24.1k | $10.95 |
| − OpEx | −$7.2k | −$3.29 |
| NOI | $16.9k | $7.67 |
2,200 SF · lease $12.36/SF/yr · vacancy 11.40% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$240.9K
$210.8K – $281.1K
NOI $16,864 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$213.6K
$186.9K – $249.2K
NOI $14,950 @ 7.0% cap · market cap 3.08%
Theoretical Best
Hotel Hospitality
$1.13M
$987.5K – $1.32M
NOI $79,002 @ 7.0% cap · market cap 16.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Well-maintained duplex with two units featuring private fenced backyards, attached garages, and dedicated laundry space.
Where is this duplex located?
The property is located at 1179 Greywood Drive Van Alstyne, TX.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Duplex with 2 units in one‑story brick construction, built in 2004 (slab foundation).; Unit mix: one 3BD/2BA and one 2BD/2BA, both with open floorplans and ceramic tile flooring in main spaces.; Each unit includes private fenced backyard space plus an attached garage for parking and storage.
