Modern Duplex with Fenced
For Sale
$489,000
1425 Evans Avenue, Fort Worth, TX 76104
2022-built duplex with two re-leased units, stainless kitchen packages, loft space, and fenced backyards with gated access.
Property Size2,680 SF
Days on Market55
Property Features for 1425 Evans Avenue
General Information
Standard status
Active
Size
2,680 SF
Total Parking Spaces
4
Property subtype
Duplex
Occupancy
100%
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,553
Amenities
fenced backyard
covered patio
electric gate entrance
full-sized laundry room
walk-in closet
granite countertops
stainless steel appliances
Building Details
Building Size
2,680 SF
Year Built
2022
Stories
2
Tenancy
Multi
Listing Agency:
Allie Beth Allman & Assoc.
Listed By:
Bonnie Fischer · License #0806829
(214) 521-7355
Source:
Nilesrealtygroup
Added: Jul 27
Changed: Sep 6
Last Checked: Sep 18 at 11:31AM
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 Allie Beth Allman & Assoc.
Investment Insights
Based on property information with market context.
Built in 2022, this duplex features two bright, open units with stylish kitchens including stainless steel appliances, granite countertops, a pantry, and a subway tile backsplash. Each unit offers a main level half bath, a full-sized laundry room, and clear sightlines between the kitchen, dining, and living areas. Upstairs, both units include a flexible loft area, two bedrooms, and two full bathrooms. The primary suite includes a walk-in closet and an en-suite bath with a granite vanity and a stand-up shower.
Both units were recently vacated and have been re-leased, with one lease beginning October 1 for an 18-month term and the other starting October 13 for a 12-month term. Outdoor space includes a fenced backyard with electric gate entrance, a covered patio, and two dedicated parking spaces per unit. The property is located just minutes from Downtown and near Magnolia Avenue, South Main Street, the Hospital District, TCU, and Dickies Arena, with proximity to Historic Southside.
Both units were recently vacated and have been re-leased, with one lease beginning October 1 for an 18-month term and the other starting October 13 for a 12-month term. Outdoor space includes a fenced backyard with electric gate entrance, a covered patio, and two dedicated parking spaces per unit. The property is located just minutes from Downtown and near Magnolia Avenue, South Main Street, the Hospital District, TCU, and Dickies Arena, with proximity to Historic Southside.
Key Highlights
- 2022‑built duplex with both units recently vacated and re‑leased for secured occupancy
- Leases secured at $1,800/month each: one starts Oct 1 with an 18‑month term; the other starts Oct 13 with a 12‑month term
- Each unit features a bright open layout with stainless steel appliances, granite countertops, pantry, and subway tile backsplash
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
$40,752
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
8.33%
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%
$815,040
$815.0K
Cap Rate 7%
$582,171
$582.2K
Cap Rate 9%
$452,800
$452.8K
Market Conditions
NOI Build-Up for 2,680 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
$83.0K $30.96/SF
− Vacancy
−$8.9K −$3.31/SF
EGI
$74.1K $27.65/SF
− OpEx
−$33.3K −$12.44/SF
NOI
$40.8K $15.21/SF
Area
Fort Worth, 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%
$815,040
Cap Rate 7%
$582,171
Cap Rate 9%
$452,800
Alternative Uses
Best Use
Multifamily LT 5
$670.3K
$586.5K – $782.0K
NOI $46,921 @ 7.0% cap · market cap 9.60%
Second Best
Apartment 5plus
$582.2K
$509.4K – $679.2K
NOI $40,752 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$973.5K
$851.8K – $1.14M
NOI $68,147 @ 7.0% cap · market cap 13.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,741
Businesses Nearby
Explore this area
Business Placement
Demographics for 76104, TX
21,571
Population
9,605
Households
2.2
Avg Household Size
32
Median Age
21%
College-Educated
74%
High-School Grad
5.9 sq mi
ZIP Area
3,656
Density / Sq Mi
$56,848
Median Household Income
$38,131
Median Earnings
$1,385
Median Rent
$145,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - 2022-built duplex with two re-leased units, stainless kitchen packages, loft space, and fenced backyards with gated access.
Where is this duplex located?
The property is located at 1425 Evans Avenue Fort Worth, TX.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 2022‑built duplex with both units recently vacated and re‑leased for secured occupancy; Leases secured at $1,800/month each: one starts Oct 1 with an 18‑month term; the other starts Oct 13 with a 12‑month term; Each unit features a bright open layout with stainless steel appliances, granite countertops, pantry, and subway tile backsplash
