Historic Multifamily Property with
1425 Lone Star Rd Celina, TX 75009
New
For Sale
$1,440,000
Restored 1894 Queen Anne home plus four tenant-occupied rental cottages on a private corner lot.
Property Size3,280 SF
Lot Size2.44 Acres
Price / SF$439.02
Days on Market7
Property Features for 1425 Lone Star Rd
General Information
Standard status
Active
Size
3,280 SF
Lot size
2.44 Acres
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Tina Leigh Realty
(469) 441-3115
Listed By:
Virginia Simms
Source:
1plusrealty
Added: Jul 24
Changed: Jul 26
Last Checked: Jul 29 at 9:00AM
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 Tina Leigh Realty
Investment Insights
Based on property information with market context.
A restored 1894 John Elias & Ida May Herrington House designated as a Texas Historic Landmark anchors this Queen Anne Victorian property, offering original hardwood floors, soaring ceilings, intricate millwork, stained glass, transom windows, pocket doors, and multiple fireplaces. Updated kitchens and baths bring modern convenience, with a primary suite that includes a cedar-lined walk-in closet. The home also includes multiple living and entertaining spaces, including a library and formal dining room, along with wraparound porches and a shaded flagstone courtyard under mature oak trees.
The grounds include four tenant-occupied rental cottages: two mirror-image one-bedroom cottages (A and B), an efficiency cottage (C), and a two-bedroom cottage (D), each updated and accessing shared outdoor spaces maintained for residents. Additional features on the property include mature trees and manicured landscaping, a gazebo, windmill, shared fire pit, pump house, storage building, chicken coop, and a covered pavilion. A detached three-car garage and a 20’ x 30’ workshop with electricity and a built-in woodworking bench add practical space for projects or storage.
The grounds include four tenant-occupied rental cottages: two mirror-image one-bedroom cottages (A and B), an efficiency cottage (C), and a two-bedroom cottage (D), each updated and accessing shared outdoor spaces maintained for residents. Additional features on the property include mature trees and manicured landscaping, a gazebo, windmill, shared fire pit, pump house, storage building, chicken coop, and a covered pavilion. A detached three-car garage and a 20’ x 30’ workshop with electricity and a built-in woodworking bench add practical space for projects or storage.
Key Highlights
- Restored 1894 Queen Anne Victorian designated as a Texas Historic Landmark (Year Built: 1900)
- 2.44‑acre private corner lot with mature trees, manicured landscaping, gazebo, windmill, shared fire pit, pump house, and chicken coop
- Original features include hardwood floors, soaring ceilings, intricate millwork, stained glass, transom windows, pocket doors, and multiple fireplaces
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $101.5k | $30.96 |
| − Vacancy | −$10.9k | −$3.31 |
| EGI | $90.7k | $27.65 |
| − OpEx | −$40.8k | −$12.44 |
| NOI | $49.9k | $15.21 |
3,280 SF · lease $30.96/SF/yr · vacancy 10.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$712.5K
$623.5K – $831.3K
NOI $49,876 @ 7.0% cap · market cap 3.46%
Second Best
Hotel Hospitality
$293.8K
$257.1K – $342.8K
NOI $20,566 @ 7.0% cap · market cap 1.43%
Theoretical Best
Industrial
$3.26M
$2.85M – $3.80M
NOI $228,145 @ 7.0% cap · market cap 15.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Restored 1894 Queen Anne home plus four tenant-occupied rental cottages on a private corner lot.
Where is this apartment building located?
The property is located at 1425 Lone Star Rd Celina, TX.
What is the asking price?
The asking price for this property is $1,440,000.
What are key features of this property?
This property features: Restored 1894 Queen Anne Victorian designated as a Texas Historic Landmark (Year Built: 1900); 2.44‑acre private corner lot with mature trees, manicured landscaping, gazebo, windmill, shared fire pit, pump house, and chicken coop; Original features include hardwood floors, soaring ceilings, intricate millwork, stained glass, transom windows, pocket doors, and multiple fireplaces
