As-Is Duplex with 6
For Sale
$450,000
Pending
1233 West Hudgins Street, Grapevine, TX 76051
Duplex offered as-is, featuring 3 bedrooms and 2 baths on each side for a total of 6 bedrooms and 4 baths.
Property Size2,964 SF
Days on Market77
Property Features for 1233 West Hudgins Street
General Information
Standard status
Pending
Size
2,964 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
Ceiling Fan(s), Central Air, Electric
Central, Natural Gas
No
Carpet, Ceramic Tile, Engineered Wood, Vinyl
Dishwasher, Electric Range
Window Coverings
2
Cable TV Available, Open Floorplan, Vaulted Ceiling(s)
Gas Starter, Masonry
Composition, Shingle
Two
Wood
Private Yard
Slab
Assessor
Brick, Siding
Building Details
Year Built
1985
Buildings
1
Listing Agency:
Compass RE Texas, LLC
Listed By:
Candis Dunn · License #0539092
(972) 849-0972
Source:
Compass
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 3 at 12:40PM
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 Compass RE Texas, LLC
Investment Insights
Based on property information with market context.
This duplex is offered for sale as-is and presents a renovation opportunity for an investor or owner-occupant. The layout includes a spacious living area that opens to the kitchen and dining space. Each side features 3 bedrooms and 2 bathrooms, for a total of 6 bedrooms and 4 bathrooms across the property. The primary bedroom is located on the main level, with two additional bedrooms and a full bathroom on the second floor.
The property is positioned with quick access to Highway 114, Baylor Scott & White, DFW Airport, and the dining and shopping scene of downtown Grapevine, supporting a convenient day-to-day commute.
The configuration is designed for privacy and convenience with separate bedroom and bathroom layouts on each side, making it suitable for tenants or mixed occupancy depending on the buyer’s plan.
The property is positioned with quick access to Highway 114, Baylor Scott & White, DFW Airport, and the dining and shopping scene of downtown Grapevine, supporting a convenient day-to-day commute.
The configuration is designed for privacy and convenience with separate bedroom and bathroom layouts on each side, making it suitable for tenants or mixed occupancy depending on the buyer’s plan.
Key Highlights
- Duplex offered as‑is with 3 bedrooms and 2 baths on each side (total 6 bedrooms, 4 bathrooms).
- Two‑story brick and siding duplex built in 1985 with slab foundation and composition shingle roof.
- Open floorplan with vaulted ceilings; flooring includes carpet, ceramic tile, engineered wood, and vinyl.
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
$22,328
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
4.96%
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%
$446,560
$446.6K
Cap Rate 7%
$318,971
$319.0K
Cap Rate 9%
$248,089
$248.1K
Market Conditions
NOI Build-Up for 2,964 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
$35.9K $12.12/SF
− Vacancy
−$4.0K −$1.36/SF
EGI
$31.9K $10.76/SF
− OpEx
−$9.6K −$3.23/SF
NOI
$22.3K $7.53/SF
Area
Tarrant County, TX
Vacancy
11.21%
Lease Rate
$12.12 /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%
$446,560
Cap Rate 7%
$318,971
Cap Rate 9%
$248,089
Alternative Uses
Best Use
Multifamily LT 5
$319.0K
$279.1K – $372.1K
NOI $22,328 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$277.3K
$242.6K – $323.5K
NOI $19,411 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$1.04M
$912.3K – $1.22M
NOI $72,986 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,744
Businesses Nearby
Explore this area
Business Placement
Demographics for 76051, TX
49,969
Population
22,529
Households
2.2
Avg Household Size
39
Median Age
57%
College-Educated
95%
High-School Grad
22.3 sq mi
ZIP Area
2,241
Density / Sq Mi
$111,193
Median Household Income
$61,522
Median Earnings
$1,806
Median Rent
$467,800
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 - Duplex offered as-is, featuring 3 bedrooms and 2 baths on each side for a total of 6 bedrooms and 4 baths.
Where is this duplex located?
The property is located at 1233 West Hudgins Street Grapevine, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Duplex offered as‑is with 3 bedrooms and 2 baths on each side (total 6 bedrooms, 4 bathrooms).; Two‑story brick and siding duplex built in 1985 with slab foundation and composition shingle roof.; Open floorplan with vaulted ceilings; flooring includes carpet, ceramic tile, engineered wood, and vinyl.
