Three-Bedroom Duplex Built in
For Sale
$415,000
2614 & 2616 S Fannin Avenue, Denison, TX 75020
Mirrored units offer full-floor living areas, stainless steel appliances, and private low-maintenance backyards.
Property Size2,648 SF
Price / SF$156.72
Days on Market11
Property Features for 2614 & 2616 S Fannin Avenue
General Information
Standard status
Active
Size
2,648 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Gross Income
$32,400
Building Details
Year Built
2022
Tenancy
Multi
Listing Agency:
DHS Realty
(972) 979-8413
Listed By:
Rene Jensen · License #0720823
(214) 532-6823
Source:
Lonestarluxuryrealty
Added: Aug 2
Changed: Aug 11
Last Checked: Aug 12 at 5:50AM
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 DHS Realty
Investment Insights
Based on property information with market context.
Completed in 2022, this duplex contains 2,648 SF of combined living space arranged as two matching, mirrored residences. Each unit includes three bedrooms, three full bathrooms, a first-floor bathroom, a generously sized living room, and a kitchen equipped with stainless steel appliances and a full-size refrigerator. Both residences also have their own low-maintenance backyard.
The property is located at 2614 S Fannin Avenue Unit 2 in Denison, near Lake Texoma, shopping, dining, and Texas Instruments in Sherman. Both units are leased, with one agreement extending through July 2027 and the other through October 2026. The floor plans and finishes are consistent across both sides, providing a uniform duplex configuration.
The property is located at 2614 S Fannin Avenue Unit 2 in Denison, near Lake Texoma, shopping, dining, and Texas Instruments in Sherman. Both units are leased, with one agreement extending through July 2027 and the other through October 2026. The floor plans and finishes are consistent across both sides, providing a uniform duplex configuration.
Key Highlights
- Two‑unit duplex with 2,648 SF of combined living space
- Built in 2022 with identical mirrored layouts
- Each unit offers 3 bedrooms and 3 full bathrooms
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
$20,299
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
4.89%
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%
$405,980
$406.0K
Cap Rate 7%
$289,986
$290.0K
Cap Rate 9%
$225,544
$225.5K
Market Conditions
NOI Build-Up for 2,648 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
$32.7K $12.36/SF
− Vacancy
−$3.7K −$1.41/SF
EGI
$29.0K $10.95/SF
− OpEx
−$8.7K −$3.29/SF
NOI
$20.3K $7.67/SF
Area
Grayson County, TX
Vacancy
11.40%
Lease Rate
$12.36 /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%
$405,980
Cap Rate 7%
$289,986
Cap Rate 9%
$225,544
Alternative Uses
Best Use
Multifamily LT 5
$290.0K
$253.7K – $338.3K
NOI $20,299 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$257.1K
$224.9K – $299.9K
NOI $17,994 @ 7.0% cap · market cap 4.34%
Theoretical Best
Hotel Hospitality
$1.36M
$1.19M – $1.58M
NOI $95,090 @ 7.0% cap · market cap 22.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
Explore this area
Business Placement
Demographics for 75020, TX
23,782
Population
10,802
Households
2.2
Avg Household Size
42
Median Age
19%
College-Educated
90%
High-School Grad
61.0 sq mi
ZIP Area
390
Density / Sq Mi
$66,308
Median Household Income
$38,656
Median Earnings
$1,136
Median Rent
$187,200
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 - Mirrored units offer full-floor living areas, stainless steel appliances, and private low-maintenance backyards.
Where is this duplex located?
The property is located at 2614 & 2616 S Fannin Avenue Denison, TX.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,648 SF of combined living space; Built in 2022 with identical mirrored layouts; Each unit offers 3 bedrooms and 3 full bathrooms
