12-Unit Quadplex
New
For Sale
$1,625,000
7405 7409 7413 Bogart Drive, North Richland Hills, TX 76180
Three quadplex buildings offer varied apartment layouts with roof and carport coverings replaced in August 2024.
Property Size9,204 SF
Days on Market6
Property Features for 7405 7409 7413 Bogart Drive
General Information
Standard status
Active
Size
9,204 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$8,349
Building Details
Building Size
9,204 SF
Year Built
1983
Buildings
3
Listing Agency:
Great Real Estate, Inc.
Listed By:
Enis Ida · License #0789369
(214) 532-4009
Source:
Soldbywes
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 14 at 10:32AM
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 Great Real Estate, Inc.
Investment Insights
Based on property information with market context.
This multifamily offering includes three quadplex buildings totaling 12 units. Each building contains two two-bedroom apartments and two one-bedroom apartments, with one full bath in every unit. The property was built in 1983, and the roof and carport coverings were replaced in August 2024.
The buildings are located within walking distance of Fort Worth Christian School and a short drive from Richland High School. The unit mix provides a combination of one- and two-bedroom floor plans across the three-building property, supporting a varied residential configuration.
The buildings are located within walking distance of Fort Worth Christian School and a short drive from Richland High School. The unit mix provides a combination of one- and two-bedroom floor plans across the three-building property, supporting a varied residential configuration.
Key Highlights
- Three quadplex buildings with 12 total units
- Each building includes two 2‑bedroom and two 1‑bedroom units
- Every unit has one full bath
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
$69,333
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
4.27%
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%
$1,386,660
$1.4M
Cap Rate 7%
$990,471
$990.5K
Cap Rate 9%
$770,367
$770.4K
Market Conditions
NOI Build-Up for 9,204 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
$111.6K $12.12/SF
− Vacancy
−$12.5K −$1.36/SF
EGI
$99.0K $10.76/SF
− OpEx
−$29.7K −$3.23/SF
NOI
$69.3K $7.53/SF
Area
Tarrant County, TX
Vacancy
11.21%
Lease Rate
$12.12 /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%
$1,386,660
Cap Rate 7%
$990,471
Cap Rate 9%
$770,367
Alternative Uses
Best Use
Multifamily LT 5
$990.5K
$866.7K – $1.16M
NOI $69,333 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$861.1K
$753.5K – $1.00M
NOI $60,276 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$3.24M
$2.83M – $3.78M
NOI $226,639 @ 7.0% cap · market cap 13.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
Explore this area
Business Placement
Demographics for 76180, TX
37,087
Population
16,138
Households
2.3
Avg Household Size
37
Median Age
33%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
3,988
Density / Sq Mi
$78,688
Median Household Income
$42,984
Median Earnings
$1,553
Median Rent
$286,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Three quadplex buildings offer varied apartment layouts with roof and carport coverings replaced in August 2024.
Where is this quadplex located?
The property is located at 7405 7409 7413 Bogart Drive North Richland Hills, TX.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: Three quadplex buildings with 12 total units; Each building includes two 2‑bedroom and two 1‑bedroom units; Every unit has one full bath
