Quadplex with On-Site
For Sale
$998,000
508 E Hazelwood Street, Princeton, TX 75407
Four-unit quadplex built August 2018 with on-site parking, spacious layouts, and individual lockable storage.
Property Size5,600 SF
Days on Market29
Property Features for 508 E Hazelwood Street
General Information
Standard status
Active
Size
5,600 SF
Property subtype
Quadruplex
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Additional Details
Average Monthly Rent
$1,465
Taxes and HOA fees
Annual Taxes
$16,777
Amenities
parking lot
Building Details
Building Size
5,600 SF
Year Built
2017
Buildings
1
Listing Agency:
ByOwner.com
(800) 296-9637
Listed By:
Dustin Tucker · License #0640970
Source:
Sociallivingre
Added: Jul 28
Changed: Aug 16
Last Checked: Aug 24 at 12:49PM
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 ByOwner.com
Investment Insights
Based on property information with market context.
Built August 2018, this quadplex (four units) offers four 3-bedroom, 2-bath residences with open, airy floor plans. Each unit is approximately 1,400 SF and includes a master bedroom with a walk-in closet. Residents also have extra, lockable storage room space assigned for each unit, located next to the front door, plus access to a large on-property parking lot serving all residents.
The property is located at 508 E Hazelwood Street in Princeton, Texas, on a quiet street in the heart of Princeton. It overlooks the Princeton High School stadium and ACE Hardware, with views toward the Hwy 380 artery while remaining set back from surrounding activity. Walmart is about a 4-minute drive away.
For tenants or investors seeking a newer, well-organized multifamily setup, this quadplex combines consistent unit configurations, dedicated storage, and practical parking right on site.
The property is located at 508 E Hazelwood Street in Princeton, Texas, on a quiet street in the heart of Princeton. It overlooks the Princeton High School stadium and ACE Hardware, with views toward the Hwy 380 artery while remaining set back from surrounding activity. Walmart is about a 4-minute drive away.
For tenants or investors seeking a newer, well-organized multifamily setup, this quadplex combines consistent unit configurations, dedicated storage, and practical parking right on site.
Key Highlights
- Built August 2018 quadplex with four units
- Approximately 1,400 SF per unit with 3 bedrooms and 2 baths
- Master suite includes a walk‑in closet
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
$85,154
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
8.53%
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%
$1,703,080
$1.7M
Cap Rate 7%
$1,216,486
$1.2M
Cap Rate 9%
$946,156
$946.2K
Market Conditions
NOI Build-Up for 5,600 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
$173.4K $30.96/SF
− Vacancy
−$18.6K −$3.31/SF
EGI
$154.8K $27.65/SF
− OpEx
−$69.7K −$12.44/SF
NOI
$85.2K $15.21/SF
Area
Collin County, 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%
$1,703,080
Cap Rate 7%
$1,216,486
Cap Rate 9%
$946,156
Alternative Uses
Best Use
Multifamily LT 5
$1.41M
$1.23M – $1.64M
NOI $98,468 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$1.22M
$1.06M – $1.42M
NOI $85,154 @ 7.0% cap · market cap 8.53%
Theoretical Best
Industrial
$5.56M
$4.87M – $6.49M
NOI $389,515 @ 7.0% cap · market cap 39.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
370
Businesses Nearby
Explore this area
Business Placement
Demographics for 75407, TX
25,738
Population
10,095
Households
2.5
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
49.9 sq mi
ZIP Area
516
Density / Sq Mi
$92,076
Median Household Income
$48,912
Median Earnings
$1,867
Median Rent
$307,500
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?
Quadplex - Four-unit quadplex built August 2018 with on-site parking, spacious layouts, and individual lockable storage.
Where is this quadplex located?
The property is located at 508 E Hazelwood Street Princeton, TX.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Built August 2018 quadplex with four units; Approximately 1,400 SF per unit with 3 bedrooms and 2 baths; Master suite includes a walk‑in closet
