Springtown Duplex: Income-Producing
For Sale
$539,990
228 Saint Charles Dr, Springtown, TX 76082
Well-maintained duplex with modern finishes in rapidly growing Springtown.
Property Size2,592 SF
Days on Market139
Property Features for 228 Saint Charles Dr
General Information
Standard status
Active
Size
2,592 SF
Property subtype
Investment
Lease Term
12 months
Taxes and HOA fees
Annual Taxes
$10,995
Building Details
Building Size
2,592 SF
Year Built
2022
Stories
1
Units
2
Listed By:
Danika Bilbro
(817) 538-6081
Source:
Elliman
Added: Apr 24
Changed: Aug 28
Last Checked: Sep 8 at 7:05AM
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 Danika Bilbro
Investment Insights
Based on property information with market context.
This well-maintained duplex in Springtown presents a turnkey opportunity for investors or buyers seeking an income-producing property. The property features two identical units, each with 3 bedrooms and 2 bathrooms. One unit is currently leased, providing immediate cash flow. Both units feature modern finishes, including wood-look tile flooring, granite countertops, stainless steel appliances, and a large kitchen island. Natural light fills the space. The primary suite is designed for privacy and includes a dual vanity and a large walk-in closet. Outdoor living is enhanced by a sprawling covered patio and a large backyard. Each unit also includes a spacious in-home laundry room, a 1-car garage, and an extended driveway with two additional parking spaces. The property is located in a car-dependent area with a walk score of 4, but is somewhat bikeable with a bike score of 16. The property can be owner-occupied, with the other unit leased, or added to an investment portfolio.
Key Highlights
- Turnkey duplex in rapidly growing Springtown, offering immediate income potential.
- Two identical 3‑bedroom, 2‑bathroom units with modern finishes.
- One unit is already leased, providing immediate cash flow.
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
$45,576
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
8.44%
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%
$911,520
$911.5K
Cap Rate 7%
$651,086
$651.1K
Cap Rate 9%
$506,400
$506.4K
Market Conditions
NOI Build-Up for 2,592 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
$72.5K $27.96/SF
− Vacancy
−$7.4K −$2.84/SF
EGI
$65.1K $25.12/SF
− OpEx
−$19.5K −$7.54/SF
NOI
$45.6K $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%
$911,520
Cap Rate 7%
$651,086
Cap Rate 9%
$506,400
Alternative Uses
Best Use
Multifamily LT 5
$651.1K
$569.7K – $759.6K
NOI $45,576 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$563.1K
$492.7K – $656.9K
NOI $39,414 @ 7.0% cap · market cap 7.30%
Theoretical Best
Industrial
$2.58M
$2.25M – $3.00M
NOI $180,290 @ 7.0% cap · market cap 33.39%
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
315
Businesses Nearby
Explore this area
Business Placement
Demographics for 76082, TX
21,514
Population
8,576
Households
2.5
Avg Household Size
40
Median Age
16%
College-Educated
87%
High-School Grad
102.8 sq mi
ZIP Area
209
Density / Sq Mi
$93,553
Median Household Income
$49,323
Median Earnings
$1,275
Median Rent
$277,900
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 - Well-maintained duplex with modern finishes in rapidly growing Springtown.
Where is this duplex located?
The property is located at 228 Saint Charles Dr Springtown, TX.
What is the asking price?
The asking price for this property is $539,990.
What are key features of this property?
This property features: Turnkey duplex in rapidly growing Springtown, offering immediate income potential.; Two identical 3‑bedroom, 2‑bathroom units with modern finishes.; One unit is already leased, providing immediate cash flow.
