8-Unit Multifamily
For Sale
$1,497,000
1303 Fannin Street, Denton, TX 76201
Three adjoining residential properties offer updated interiors, private backyards, and proximity to the University of North Texas.
Property Size3,709 SF
Price / SF$403.61
Days on Market158
Property Features for 1303 Fannin Street
General Information
Standard status
Active
Size
3,709 SF
Total Parking Spaces
10
Property subtype
Multi-Family / Multiple Single Units
Zoning
MN
Occupancy
100%
Additional Details
Multifamily Units
8
Amenities
Central Air, Electric
Central, Natural Gas
Laminate, Varies, Wood
Refrigerator
Cable TV Available, Decorative Lighting, Granite Counters, High Speed Internet Available
No
Composition
One
Chain Link, Wood
1
Pillar/Post/Pier
Public Records
8
Siding, Wood
Building Details
Year Built
1963
Buildings
3
Listing Agency:
Scott Brown Properties, Inc
(469) 233-1500
Listed By:
Jonathan King · License #0606981
(469) 233-1500
Source:
Compass
Added: Mar 27
Changed: Aug 30
Last Checked: Aug 30 at 5:47PM
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 Scott Brown Properties, Inc
Investment Insights
Based on property information with market context.
This multifamily offering comprises eight units across two triplexes and one duplex. The properties are fully occupied, and almost all units have been updated with a mix of laminate and wood flooring, granite counters, refrigerators, central air, and select decorative lighting. Backyards are present at almost all units, with wood and siding exteriors and pier-and-beam foundations.
The properties are located near the University of North Texas, within walking distance of campus, biking distance of the Downtown Denton Square, and driving distance of Texas Woman’s University. The land is identified as MN multifamily zoning, and the offering has no HOA. The configuration provides an established residential income asset with multiple structures and varied unit layouts.
The properties are located near the University of North Texas, within walking distance of campus, biking distance of the Downtown Denton Square, and driving distance of Texas Woman’s University. The land is identified as MN multifamily zoning, and the offering has no HOA. The configuration provides an established residential income asset with multiple structures and varied unit layouts.
Key Highlights
- 8 units consisting of two triplexes and one duplex
- 100% rented across the three adjoining properties
- Land identified as MN multifamily zoning
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
$64,330
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
4.30%
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%
$1,286,600
$1.3M
Cap Rate 7%
$919,000
$919.0K
Cap Rate 9%
$714,778
$714.8K
Market Conditions
NOI Build-Up for 3,709 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
$103.3K $27.84/SF
− Vacancy
−$11.4K −$3.06/SF
EGI
$91.9K $24.78/SF
− OpEx
−$27.6K −$7.43/SF
NOI
$64.3K $17.34/SF
Area
Denton, TX
Vacancy
11.00%
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%
$1,286,600
Cap Rate 7%
$919,000
Cap Rate 9%
$714,778
Alternative Uses
Best Use
Multifamily LT 5
$919.0K
$804.1K – $1.07M
NOI $64,330 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$805.7K
$705.0K – $940.0K
NOI $56,399 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,117 @ 7.0% cap · market cap 5.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
707
Businesses Nearby
Explore this area
Business Placement
Demographics for 76201, TX
27,610
Population
13,087
Households
2.1
Avg Household Size
26
Median Age
46%
College-Educated
95%
High-School Grad
5.5 sq mi
ZIP Area
5,020
Density / Sq Mi
$37,863
Median Household Income
$18,308
Median Earnings
$1,128
Median Rent
$250,200
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?
Multifamily property - Three adjoining residential properties offer updated interiors, private backyards, and proximity to the University of North Texas.
Where is this multifamily property located?
The property is located at 1303 Fannin Street Denton, TX.
What is the asking price?
The asking price for this property is $1,497,000.
What are key features of this property?
This property features: 8 units consisting of two triplexes and one duplex; 100% rented across the three adjoining properties; Land identified as MN multifamily zoning
