Duplex with Two Private
For Sale
$485,000
1179 Greywood Drive, Van Alstyne, TX 75495
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 Market197
Property Features for 1179 Greywood Drive
General Information
Standard status
Active
Size
2,200 SF
Total Parking Spaces
6
Property subtype
Multi-Family / Full Duplex
Additional Details
Multifamily Units
2
Amenities
Ceiling Fan(s), Central Air, Electric
Central, Electric
No
Ceramic Tile
Dishwasher, Disposal, Electric Range, Electric Water Heater, Ice Maker, Microwave, Refrigerator
Cable TV Available, Open Floorplan, Walk-In Closet(s)
Composition
One
Privacy, Wood
Private Yard
1
Slab
Assessor
2
Brick
Building Details
Year Built
2004
Buildings
1
Listing Agency:
Real Broker, LLC
Listed By:
K.C. McKeown · License #0690463
(509) 551-4884
Source:
Compass
Added: Feb 20
Changed: Aug 8
Last 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.
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
$16,864
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
3.48%
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%
$337,280
$337.3K
Cap Rate 7%
$240,914
$240.9K
Cap Rate 9%
$187,378
$187.4K
Market Conditions
NOI Build-Up for 2,200 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
$27.2K $12.36/SF
− Vacancy
−$3.1K −$1.41/SF
EGI
$24.1K $10.95/SF
− OpEx
−$7.2K −$3.29/SF
NOI
$16.9K $7.67/SF
Area
Grayson County, TX
Vacancy
11.40%
Lease Rate
$12.36 /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%
$337,280
Cap Rate 7%
$240,914
Cap Rate 9%
$187,378
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 authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Explore this area
Business Placement
Demographics for 75495, TX
9,061
Population
4,082
Households
2.2
Avg Household Size
40
Median Age
39%
College-Educated
94%
High-School Grad
67.7 sq mi
ZIP Area
134
Density / Sq Mi
$105,520
Median Household Income
$49,603
Median Earnings
$1,239
Median Rent
$353,500
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 - 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.
