Renovated Duplex with Covered
For Sale
$550,000
Pending
1409 W Allen Avenue, Fort Worth, TX 76110
ResidentialIncome, Fort Worth, TX
Property Size2,072 SF
Lot Size0.05 Acres
Days on Market55
Property Features for 1409 W Allen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 6, Bedroom 4
Parking features
On Street, Garage
Interior features
Chandelier, DecorativeDesignerLightingFixtures, HighSpeedInternet, KitchenIsland
Appliances
Dishwasher, Disposal, Microwave
Subdivision
Fairmount Add
Elementary school
Clayton Li
Middle school
Mclean
High school
Paschal
Elementary school district
Fort Worth ISD
Middle school district
Fort Worth ISD
High school district
Fort Worth ISD
Directions
From Magnolia Avenue, south on 6th Avenue, then east on W Allen Avenue. Property sits on W Allen between 6th Avenue and Fairmount Avenue. GPS recommended
Standard status
Pending
APN
00912840
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
FAIRMOUNT ADDITION BLOCK 8 LOT 1 E40'1-2 BLK
Tax Annual Amount
3958
Legal Description
FAIRMOUNT ADDITION BLOCK 8 LOT 1 E40'1-2 BLK
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Electric
Water source
Public
Amenities
covered porches
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Tile, Wood
Building materials
WoodSiding
Roof type
Composition
Listing Agency:
6th Ave Homes
(817) 631-9803
Listed By:
Jamey Ice · License #0684550
(817) 239-1896
Added: Jul 16
Changed: Sep 4
Last Checked: Sep 8 at 6:06PM
MLS# 21280934
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1920 duplex contains two independent residences beneath one roof, each measuring approximately 1,036 square feet. Both units include a private entrance, full kitchen, living room, and bedrooms, with six bedrooms and three baths across 2,072 total square feet. Wood floors, shiplap surfaces, built-ins, decorative lighting, and gas ranges retain the property's original character, while the double-level covered porches span the front of the home. The property also includes individual electric meters, a garage, on-street parking, public water, and public sewer.
A designer renovation was completed in 2018, followed by exterior paint and siding updates in 2022 and water-heater replacement in 2024. The duplex is located two blocks from Magnolia Avenue in Historic Fairmount, near restaurants, coffee shops, and bars. TCU, the Cultural District museums, the Near Southside medical district, and the Stockyards are minutes away. Fort Worth ISD schools include Lily B. Clayton Elementary, McLean Middle, and Paschal High.
A designer renovation was completed in 2018, followed by exterior paint and siding updates in 2022 and water-heater replacement in 2024. The duplex is located two blocks from Magnolia Avenue in Historic Fairmount, near restaurants, coffee shops, and bars. TCU, the Cultural District museums, the Near Southside medical district, and the Stockyards are minutes away. Fort Worth ISD schools include Lily B. Clayton Elementary, McLean Middle, and Paschal High.
Key Highlights
- Two self‑contained duplex units, each approximately 1,036 square feet
- 2,072 total square feet with six bedrooms and three baths
- Double‑stacked covered porches span the full width of the house
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
$36,277
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
6.60%
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%
$725,540
$725.5K
Cap Rate 7%
$518,243
$518.2K
Cap Rate 9%
$403,078
$403.1K
Market Conditions
NOI Build-Up for 2,072 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
$57.7K $27.84/SF
− Vacancy
−$5.9K −$2.83/SF
EGI
$51.8K $25.01/SF
− OpEx
−$15.5K −$7.50/SF
NOI
$36.3K $17.51/SF
Area
Fort Worth, TX
Vacancy
10.16%
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%
$725,540
Cap Rate 7%
$518,243
Cap Rate 9%
$403,078
Alternative Uses
Best Use
Multifamily LT 5
$518.2K
$453.5K – $604.6K
NOI $36,277 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$450.1K
$393.8K – $525.1K
NOI $31,507 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$752.7K
$658.6K – $878.1K
NOI $52,687 @ 7.0% cap · market cap 9.58%
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
2,807
Businesses Nearby
Explore this area
Business Placement
Demographics for 76110, TX
29,858
Population
12,497
Households
2.4
Avg Household Size
33
Median Age
29%
College-Educated
68%
High-School Grad
5.7 sq mi
ZIP Area
5,238
Density / Sq Mi
$68,435
Median Household Income
$36,262
Median Earnings
$1,255
Median Rent
$239,200
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 self-contained residences feature private entries, full kitchens, living areas, and bedrooms.
Where is this duplex located?
The property is located at 1409 W Allen Avenue Fort Worth, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two self‑contained duplex units, each approximately 1,036 square feet; 2,072 total square feet with six bedrooms and three baths; Double‑stacked covered porches span the full width of the house
