Renovated Two-Unit
For Sale
$495,100
1319 Parkway Court, Arlington, TX 76010
Two three-bedroom residences offer updated interiors, dedicated parking, and private outdoor areas in Arlington.
Property Size2,112 SF
Price / SF$234.42
Days on Market342
Property Features for 1319 Parkway Court
General Information
Standard status
Active
Size
2,112 SF
Total Parking Spaces
6
Property subtype
Multi-Family / Full Duplex
Zoning
RM-22
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
backyard patios
outdoor storage
Central Air
Central
Luxury Vinyl Plank, Tile
Electric Range
2
Walk-In Closet(s)
Brick, Gas, Living Room
No
Composition
One
1
Slab
Assessor
Brick
Building Details
Year Built
1979
Buildings
1
Listing Agency:
White Rock Realty
(682) 552-7227
Listed By:
Marium Hameed · License #0732223
(682) 552-7227
Source:
Compass
Added: Sep 25, 2025
Changed: Aug 30
Last Checked: Aug 31 at 10:01PM
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 White Rock Realty
Investment Insights
Based on property information with market context.
This two-unit residential income property at 1319 Parkway Court contains 2,112 square feet, with each side configured as a three-bedroom, two-bath residence. Both units feature refreshed kitchens with appliances, updated bathrooms, new windows and fixtures, luxury vinyl plank and tile flooring, and new interior and exterior paint. Central air and central heat serve the units, which also include walk-in closets and living rooms with brick, gas fireplaces.
Exterior improvements include backyard patios, outdoor storage, fencing, and six dedicated parking spaces at the front. The composition roof and HVAC systems were replaced in 2024. RM-22 zoning is identified in the property information, and the two units are offered together. The property is located near restaurants, supermarkets, entertainment, AT&T, Globe Life, and Six Flags, with those destinations described as a few miles away.
Exterior improvements include backyard patios, outdoor storage, fencing, and six dedicated parking spaces at the front. The composition roof and HVAC systems were replaced in 2024. RM-22 zoning is identified in the property information, and the two units are offered together. The property is located near restaurants, supermarkets, entertainment, AT&T, Globe Life, and Six Flags, with those destinations described as a few miles away.
Key Highlights
- 2,112‑square‑foot duplex with two three‑bedroom, two‑bath units
- Six dedicated parking spots positioned in front of the property
- Roof and HVAC replaced in 2024
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
$37,136
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
7.50%
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%
$742,720
$742.7K
Cap Rate 7%
$530,514
$530.5K
Cap Rate 9%
$412,622
$412.6K
Market Conditions
NOI Build-Up for 2,112 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
$59.1K $27.96/SF
− Vacancy
−$6.0K −$2.84/SF
EGI
$53.1K $25.12/SF
− OpEx
−$15.9K −$7.54/SF
NOI
$37.1K $17.58/SF
Area
ZIP 76010
Vacancy
10.16%
Lease Rate
$27.96 /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%
$742,720
Cap Rate 7%
$530,514
Cap Rate 9%
$412,622
Alternative Uses
Best Use
Multifamily LT 5
$530.5K
$464.2K – $618.9K
NOI $37,136 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$458.8K
$401.4K – $535.3K
NOI $32,115 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$608.3K
$532.2K – $709.6K
NOI $42,578 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
872
Businesses Nearby
Explore this area
Business Placement
Demographics for 76010, TX
55,894
Population
20,508
Households
2.7
Avg Household Size
29
Median Age
13%
College-Educated
65%
High-School Grad
8.8 sq mi
ZIP Area
6,352
Density / Sq Mi
$43,811
Median Household Income
$31,236
Median Earnings
$1,223
Median Rent
$199,200
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 - Two three-bedroom residences offer updated interiors, dedicated parking, and private outdoor areas in Arlington.
Where is this duplex located?
The property is located at 1319 Parkway Court Arlington, TX.
What is the asking price?
The asking price for this property is $495,100.
What are key features of this property?
This property features: 2,112‑square‑foot duplex with two three‑bedroom, two‑bath units; Six dedicated parking spots positioned in front of the property; Roof and HVAC replaced in 2024
