Building Details

Year Built 1979

Listing Agency: Walzel Properties

Listed By: Ali Alibhai · License #0509870 Show Phone

Source: Christenberrygroup

Added: Jul 24 Changed: Oct 13 Last Checked: Oct 7 at 1:26PM

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Investment Insights

Based on property information with market context.

This 2,070-square-foot duplex, built in 1979, contains two residential units with matching layouts of 2 bedrooms and 1.5 bathrooms. Interior improvements include updated finishes and recently installed flooring. The property is located at 1500 Blackwell Dr in Irving, Texas, within Irving Heights, and carries no HOA requirement.

Unit 1500 is tenant-ready, allowing the next owner to determine its leasing or occupancy strategy. Unit 1502 is leased and currently contributes rental income. Together, the unit configuration and recent interior work provide a straightforward residential income property with one occupied unit and one available for placement or repositioning.

Key Highlights

• 2,070‑square‑foot duplex built in 1979
• Two units, each with 2 bedrooms and 1.5 bathrooms
• Updated interiors with new flooring

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,398

Cap Rate

8.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$727,960 $728.0K

Cap Rate 7%

$519,971 $520.0K

Cap Rate 9%

$404,422 $404.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,070 SF

Gross rent

$57.9K $27.96/SF

− Vacancy

−$5.9K −$2.84/SF

EGI

$52.0K $25.12/SF

− OpEx

−$15.6K −$7.54/SF

NOI

$36.4K $17.58/SF

Area

Irving, TX

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 Rate 5%

$727,960

Cap Rate 7%

$519,971

Cap Rate 9%

$404,422

Alternative Uses

Best Use

Multifamily LT 5

$520.0K

$455.0K – $606.6K (±1% cap)

NOI $36,398 @ 7.0% cap · market cap 8.11%

Second Best

Apartment 5plus

$449.7K

$393.5K – $524.6K (±1% cap)

NOI $31,476 @ 7.0% cap · market cap 7.01%

Theoretical Best

Office A

$530.9K

$464.5K – $619.4K (±1% cap)

NOI $37,161 @ 7.0% cap · market cap 8.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Dental Office Real Estate Agency Pharmacy Parking Lot & Garage Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

350

Businesses Nearby

Explore this area Business Placement

Demographics for 75061, TX

55,828

Population

20,187

Households

2.8

Avg Household Size

33

Median Age

17%

College-Educated

66%

High-School Grad

11.6 sq mi

ZIP Area

4,813

Density / Sq Mi

$61,260

Median Household Income

$33,388

Median Earnings

$1,292

Median Rent

$228,400

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-bedroom units combine refreshed interiors with flexible occupancy and no HOA obligations.

Where is this duplex located?

The property is located at 1500 Blackwell Dr Irving, TX.

What is the asking price?

The asking price for this property is $449,000.

What are key features of this property?

This property features: 2,070‑square‑foot duplex built in 1979; Two units, each with 2 bedrooms and 1.5 bathrooms; Updated interiors with new flooring