Two-Unit Duplex with
For Sale
$480,000
1185 Greywood Dr, Van Alstyne, TX 75495
Van Alstyne duplex with flexible unit layouts, private fenced yards, and attached garage space for each residence.
Property Size2,200 SF
Price / SF$218.18
Days on Market320
Property Features for 1185 Greywood Dr
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
private fenced backyard
attached garage
dedicated utility space
Building Details
Year Built
2004
Listing Agency:
Real Broker, LLC
Listed By:
K.C. McKeown 509-551-4884 · License #0690463
(512) 960-3253
Source:
Granburyhomefinder
Added: Nov 28, 2025
Changed: Oct 1
Last Checked: Oct 12 at 7:53PM
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.
Built in 2004, this 2,200-square-foot duplex includes two separate residences with practical open-concept living areas and tile flooring across the main spaces. One unit provides three bedrooms and two full bathrooms, while the other offers two bedrooms and two full bathrooms. Each residence also includes an attached garage, a private fenced backyard, and dedicated utility space sized for a full-size washer and dryer.
The property is located near Sanford Elementary School in Van Alstyne, with access to US-75 for travel toward McKinney, Sherman, and nearby communities. The two-unit configuration supports separate occupancy, while the distinct layouts provide flexibility for residential income use or owner occupancy.
The property is located near Sanford Elementary School in Van Alstyne, with access to US-75 for travel toward McKinney, Sherman, and nearby communities. The two-unit configuration supports separate occupancy, while the distinct layouts provide flexibility for residential income use or owner occupancy.
Key Highlights
- 2,200‑square‑foot duplex built in 2004
- Unit mix includes 3 bedrooms and 2 full bathrooms in one residence, plus 2 bedrooms and 2 full bathrooms in the other
- Each unit includes an attached garage and private fenced backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,864
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
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
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 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 3.51%
Second Best
Apartment 5plus
$213.6K
$186.9K – $249.2K
NOI $14,950 @ 7.0% cap · market cap 3.11%
Theoretical Best
Hotel Hospitality
$1.13M
$987.5K – $1.32M
NOI $79,002 @ 7.0% cap · market cap 16.46%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Van Alstyne duplex with flexible unit layouts, private fenced yards, and attached garage space for each residence.
Where is this duplex located?
The property is located at 1185 Greywood Dr Van Alstyne, TX.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 2,200‑square‑foot duplex built in 2004; Unit mix includes 3 bedrooms and 2 full bathrooms in one residence, plus 2 bedrooms and 2 full bathrooms in the other; Each unit includes an attached garage and private fenced backyard
