Modern Duplex with Alley
For Sale
$500,000
931-933 River Road, Fort Worth, TX 76114
Built in 2024, this duplex offers two residences with private entrances and five alley-access parking spaces.
Property Size2,618 SF
Days on Market14
Property Features for 931-933 River Road
General Information
Standard status
Active
Size
2,618 SF
Total Parking Spaces
5
Property subtype
Duplex
Additional Details
Multifamily Units
2
Building Details
Building Size
2,618 SF
Year Built
2024
Tenancy
Multi
Listing Agency:
NextHome NTX Real Estate
(817) 564-2927
Listed By:
Graham Stiles · License #0482946
Source:
Nilesrealtygroup
Added: Jul 25
Changed: Jul 26
Last Checked: Aug 7 at 1:33AM
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 NextHome NTX Real Estate
Investment Insights
Based on property information with market context.
Built in 2024, this modern duplex provides two separate residences under one ownership, each with a private entrance and an open-concept interior. Both units feature contemporary finishes, modern cabinetry, granite countertops, durable flooring, spacious bedrooms, walk-in closets, and two-and-a-half bathrooms. One residence includes three bedrooms, while the other includes two bedrooms. The property also has five alley-access parking spaces, and one residence is currently vacant. The other unit can be made available quickly, offering flexibility for the next owner.
Situated near the Trinity River and Trinity Trails, the property is positioned for convenient access to downtown Fort Worth, NAS JRB, Westworth Village, and nearby shopping, dining, and entertainment, with miles of walking and biking trails close by.
With remaining builder warranty coverage noted in the seller’s remarks, this is a newer duplex setup well-suited to rental income or owner-occupancy with leasing support.
Situated near the Trinity River and Trinity Trails, the property is positioned for convenient access to downtown Fort Worth, NAS JRB, Westworth Village, and nearby shopping, dining, and entertainment, with miles of walking and biking trails close by.
With remaining builder warranty coverage noted in the seller’s remarks, this is a newer duplex setup well-suited to rental income or owner-occupancy with leasing support.
Key Highlights
- Duplex built in 2024 with modern construction and two separate residences
- Each unit has a private entrance and open‑concept living with contemporary finishes
- Granite countertops and modern cabinetry in each residence
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
$45,836
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
9.17%
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%
$916,720
$916.7K
Cap Rate 7%
$654,800
$654.8K
Cap Rate 9%
$509,289
$509.3K
Market Conditions
NOI Build-Up for 2,618 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
$72.9K $27.84/SF
− Vacancy
−$7.4K −$2.83/SF
EGI
$65.5K $25.01/SF
− OpEx
−$19.6K −$7.50/SF
NOI
$45.8K $17.51/SF
Area
Fort Worth, TX
Vacancy
10.16%
Lease Rate
$27.84 /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%
$916,720
Cap Rate 7%
$654,800
Cap Rate 9%
$509,289
Alternative Uses
Best Use
Multifamily LT 5
$654.8K
$573.0K – $763.9K
NOI $45,836 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$568.7K
$497.6K – $663.5K
NOI $39,809 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$951.0K
$832.1K – $1.11M
NOI $66,571 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
Explore this area
Business Placement
Demographics for 76114, TX
26,676
Population
10,648
Households
2.5
Avg Household Size
36
Median Age
18%
College-Educated
76%
High-School Grad
9.7 sq mi
ZIP Area
2,750
Density / Sq Mi
$61,055
Median Household Income
$40,145
Median Earnings
$1,231
Median Rent
$195,400
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 - Built in 2024, this duplex offers two residences with private entrances and five alley-access parking spaces.
Where is this duplex located?
The property is located at 931-933 River Road Fort Worth, TX.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Duplex built in 2024 with modern construction and two separate residences; Each unit has a private entrance and open‑concept living with contemporary finishes; Granite countertops and modern cabinetry in each residence
