Duplex with Two-Car
For Sale
$685,000
Pending
5111/5109 Ledgestone Drive, Fort Worth, TX 76132
Own both sides of a duplex with gated access and two-car garages, featuring one renovated unit and one tenant-occupied unit.
Property Size4,144 SF
Days on Market54
Property Features for 5111/5109 Ledgestone Drive
General Information
Standard status
Pending
Size
4,144 SF
Total Parking Spaces
4
Property subtype
Duplex
Occupancy
50%
Additional Details
Multifamily Units
2
Amenities
gated access
Building Details
Building Size
4,144 SF
Year Built
1979
Tenancy
Multi
Listing Agency:
Compass RE Texas, LLC
(214) 814-8100
Listed By:
John Zimmerman · License #0437098
Source:
Nilesrealtygroup
Added: Jul 2
Changed: Aug 7
Last Checked: Jul 25 at 12:43PM
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 Compass RE Texas, LLC
Investment Insights
Based on property information with market context.
Own both 5109 and 5111 Ledgestone Drive as a single duplex offering in Fort Worth. The property includes one fully renovated, move-in-ready unit and a second unit that is currently tenant occupied. Both sides are equipped with essential appliances, two-car garages, and gated access, supported by recent improvements.
5111 features a thoughtfully designed single-story layout with modern finishes and refreshed interiors. 5109 offers a spacious two-story floor plan with the primary suite on the main level, additional bedrooms upstairs, and multiple living spaces, with recent updates throughout.
This dual-unit setup provides flexible options for an owner-occupant or an investor seeking immediate rental income from day one, with convenient access to shopping, dining, and major thoroughfares.
5111 features a thoughtfully designed single-story layout with modern finishes and refreshed interiors. 5109 offers a spacious two-story floor plan with the primary suite on the main level, additional bedrooms upstairs, and multiple living spaces, with recent updates throughout.
This dual-unit setup provides flexible options for an owner-occupant or an investor seeking immediate rental income from day one, with convenient access to shopping, dining, and major thoroughfares.
Key Highlights
- Duplex built in 1979 offering both sides together at 5109 and 5111 Ledgestone Dr
- One unit is fully renovated and move‑in ready, while the other is tenant occupied
- Both units feature two‑car garages and gated access
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
$63,014
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
9.20%
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%
$1,260,280
$1.3M
Cap Rate 7%
$900,200
$900.2K
Cap Rate 9%
$700,156
$700.2K
Market Conditions
NOI Build-Up for 4,144 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
$128.3K $30.96/SF
− Vacancy
−$13.7K −$3.31/SF
EGI
$114.6K $27.65/SF
− OpEx
−$51.6K −$12.44/SF
NOI
$63.0K $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%
$1,260,280
Cap Rate 7%
$900,200
Cap Rate 9%
$700,156
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$906.9K – $1.21M
NOI $72,553 @ 7.0% cap · market cap 10.59%
Second Best
Apartment 5plus
$900.2K
$787.7K – $1.05M
NOI $63,014 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,374 @ 7.0% cap · market cap 15.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
881
Businesses Nearby
Explore this area
Business Placement
Demographics for 76132, TX
26,249
Population
13,906
Households
1.9
Avg Household Size
38
Median Age
49%
College-Educated
96%
High-School Grad
7.4 sq mi
ZIP Area
3,547
Density / Sq Mi
$67,017
Median Household Income
$42,579
Median Earnings
$1,354
Median Rent
$401,200
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 - Own both sides of a duplex with gated access and two-car garages, featuring one renovated unit and one tenant-occupied unit.
Where is this duplex located?
The property is located at 5111/5109 Ledgestone Drive Fort Worth, TX.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Duplex built in 1979 offering both sides together at 5109 and 5111 Ledgestone Dr; One unit is fully renovated and move‑in ready, while the other is tenant occupied; Both units feature two‑car garages and gated access
