Well-Maintained Duplex with
1185 Greywood Drive Van Alstyne, TX 75495
1185 Greywood Drive, Van Alstyne, TX, 75495
$485,000
For Sale
$485,000
Two-unit duplex offers attached garages, fenced private backyards, and washer-dryer utility space for each unit.
Property Size2,200 SF
Price / SF$220.45
Days on Market152
Property Features for 1185 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 22 at 10:48AM Checked: Jul 22 at 10:48AM
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 residential units, each with an open-concept layout and durable tile flooring in the main living areas. One unit features 3 bedrooms and 2 full bathrooms, while the second unit offers 2 bedrooms and 2 full bathrooms. Both units include private fenced backyards and an attached garage for added convenience and storage. Dedicated utility space accommodates a full-size washer and dryer.
Located in Van Alstyne, the property is described as being just minutes from Sanford elementary school. It also provides convenient access to US-75 for commuting to nearby communities.
The duplex is configured to support comfortable day-to-day living with generously sized bedrooms, well-appointed bathrooms, and dedicated in-unit laundry space.
Located in Van Alstyne, the property is described as being just minutes from Sanford elementary school. It also provides convenient access to US-75 for commuting to nearby communities.
The duplex is configured to support comfortable day-to-day living with generously sized bedrooms, well-appointed bathrooms, and dedicated in-unit laundry space.
Key Highlights
- 2004‑built 2‑unit duplex with brick construction and a slab foundation
- Unit mix: one side has 3 bedrooms and 2 full bathrooms; the other has 2 bedrooms and 2 full bathrooms
- Each unit features an open floorplan with ceramic tile flooring in main living areas
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 - Two-unit duplex offers attached garages, fenced private backyards, and washer-dryer utility space for each unit.
Where is this duplex located?
The property is located at 1185 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: 2004‑built 2‑unit duplex with brick construction and a slab foundation; Unit mix: one side has 3 bedrooms and 2 full bathrooms; the other has 2 bedrooms and 2 full bathrooms; Each unit features an open floorplan with ceramic tile flooring in main living areas
