Duplex with Attached
New
For Sale
$529,000
1228 Elva Warren Street, Fort Worth, TX 76115
Open-plan interiors include central air, central heating, and a driveway.
Property Size3,168 SF
Days on Market6
Property Features for 1228 Elva Warren Street
General Information
Standard status
Active
Size
3,168 SF
Total Parking Spaces
4
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$188
Amenities
Central Air
Central
Dishwasher, Disposal, Electric Range
Open Floorplan
Driveway, Garage, Attached
Building Details
Building Size
3,168 SF
Year Built
2026
Buildings
1
Listing Agency:
Real Sense Real Estate
Listed By:
Isaiah Spates · License #0600772
(817) 264-7325
Source:
Evrealestate
Added: Sep 28
Last Checked: Oct 2 at 8:43PM
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 Sense Real Estate
Investment Insights
Based on property information with market context.
Built in 2026, this duplex has open-plan interiors with central air and central heating. The property includes an attached garage and driveway, along with a dishwasher, disposal, and electric range.
Key Highlights
- Built in 2026
- Attached garage and driveway
- Open‑plan interiors with central air, central heating, dishwasher, disposal, and electric range
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
$48,173
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
9.11%
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%
$963,460
$963.5K
Cap Rate 7%
$688,186
$688.2K
Cap Rate 9%
$535,256
$535.3K
Market Conditions
NOI Build-Up for 3,168 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
$98.1K $30.96/SF
− Vacancy
−$10.5K −$3.31/SF
EGI
$87.6K $27.65/SF
− OpEx
−$39.4K −$12.44/SF
NOI
$48.2K $15.21/SF
Area
Fort Worth, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
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%
$963,460
Cap Rate 7%
$688,186
Cap Rate 9%
$535,256
Alternative Uses
Best Use
Multifamily LT 5
$792.4K
$693.3K – $924.4K
NOI $55,465 @ 7.0% cap · market cap 10.48%
Second Best
Apartment 5plus
$688.2K
$602.2K – $802.9K
NOI $48,173 @ 7.0% cap · market cap 9.11%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,556 @ 7.0% cap · market cap 15.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
Explore this area
Business Placement
Demographics for 76115, TX
20,956
Population
6,706
Households
3.1
Avg Household Size
29
Median Age
17%
College-Educated
53%
High-School Grad
4.6 sq mi
ZIP Area
4,556
Density / Sq Mi
$51,823
Median Household Income
$29,868
Median Earnings
$1,177
Median Rent
$132,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Open-plan interiors include central air, central heating, and a driveway.
Where is this duplex located?
The property is located at 1228 Elva Warren Street Fort Worth, TX.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Built in 2026; Attached garage and driveway; Open‑plan interiors with central air, central heating, dishwasher, disposal, and electric range
