Four-Bedroom
For Sale
$384,400
1233 & 1237 Village Garden Drive, Azle, TX 76020
Two attached residences offer fenced backyards, individual garages, driveway parking, and all-electric systems.
Property Size1,246 SF
Days on Market15
Property Features for 1233 & 1237 Village Garden Drive
General Information
Standard status
Active
Size
1,246 SF
Property subtype
Duplex
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,268
Amenities
fenced backyards
Building Details
Building Size
1,246 SF
Year Built
2006
Listing Agency:
CENTURY 21 Judge Fite Co.
(817) 637-6078
Listed By:
Miguel Picart · License #0671894
Source:
Nilesrealtygroup
Added: Aug 15
Changed: Aug 21
Last Checked: Aug 28 at 6:50PM
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 CENTURY 21 Judge Fite Co.
Investment Insights
Based on property information with market context.
Built in 2006, this full duplex includes both residences. Each side provides four bedrooms, two full bathrooms, a one-car garage, and an approximately comparable floor plan. Interior finishes combine stained concrete and carpet, while all-electric systems serve both units. Fenced backyards and additional driveway parking expand the usable outdoor and parking areas. No HOA is reported for the property.
One unit currently has a tenant. The property is located at 1233 & 1237 Village Garden Drive in Azle, Texas, with access to local amenities, schools, and commuter routes noted in the property information.
One unit currently has a tenant. The property is located at 1233 & 1237 Village Garden Drive in Azle, Texas, with access to local amenities, schools, and commuter routes noted in the property information.
Key Highlights
- Full duplex with both sides included
- Each unit has 4 bedrooms and 2 full bathrooms
- Each residence includes a 1‑car garage
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
$21,909
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
5.70%
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%
$438,180
$438.2K
Cap Rate 7%
$312,986
$313.0K
Cap Rate 9%
$243,433
$243.4K
Market Conditions
NOI Build-Up for 1,246 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
$34.8K $27.96/SF
− Vacancy
−$3.5K −$2.84/SF
EGI
$31.3K $25.12/SF
− OpEx
−$9.4K −$7.54/SF
NOI
$21.9K $17.58/SF
Area
Parker County, TX
Vacancy
10.16%
Lease Rate
$27.96 /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%
$438,180
Cap Rate 7%
$312,986
Cap Rate 9%
$243,433
Alternative Uses
Best Use
Multifamily LT 5
$313.0K
$273.9K – $365.2K
NOI $21,909 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$270.7K
$236.8K – $315.8K
NOI $18,947 @ 7.0% cap · market cap 4.93%
Theoretical Best
Industrial
$1.24M
$1.08M – $1.44M
NOI $86,667 @ 7.0% cap · market cap 22.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
157
Businesses Nearby
Explore this area
Business Placement
Demographics for 76020, TX
33,469
Population
13,355
Households
2.5
Avg Household Size
42
Median Age
20%
College-Educated
89%
High-School Grad
64.9 sq mi
ZIP Area
516
Density / Sq Mi
$91,000
Median Household Income
$48,559
Median Earnings
$1,246
Median Rent
$272,800
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 - Two attached residences offer fenced backyards, individual garages, driveway parking, and all-electric systems.
Where is this duplex located?
The property is located at 1233 & 1237 Village Garden Drive Azle, TX.
What is the asking price?
The asking price for this property is $384,400.
What are key features of this property?
This property features: Full duplex with both sides included; Each unit has 4 bedrooms and 2 full bathrooms; Each residence includes a 1‑car garage
