Turnkey Duplex with Updated
1500 Blackwell Drive Irving, TX 75061
1500 Blackwell Drive, Irving, TX, 75061
$449,000
For Sale
$449,000
Turnkey duplex with two 2-bedroom, 1.5-bath units featuring updated interiors and recently upgraded flooring.
Property Size2,070 SF
Price / SF$216.91
Days on Market258
Property Features for 1500 Blackwell Drive
General Information
- Standard status
- Active
- Size
- 2,070 SF
- Property subtype
- Multi-Family / Full Duplex
Building Details
- Year Built
- 1979
Listing agency
Walzel Properties - Corporate Office
(817) 800-9254
Listed by
Ali Alibhai · License #0509870
(817) 800-9254
Source
Compass
Added: Nov 6, 2025 Updated: Jul 22 at 11:15AM Checked: Jul 22 at 11:15AM
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 Walzel Properties - Corporate Office
Investment Insights
Based on property information with market context.
This turnkey duplex offers two residential units, each with 2 bedrooms and 1.5 bathrooms. The property features updated interiors, and recently upgraded flooring, designed to support low-maintenance operation. The duplex is currently tenant-occupied, with one unit stated as tenant-ready and the other leased.
The property is located at 1500 Blackwell Drive in Irving, Texas, in Irving Heights. The listing notes there is no HOA, which can help reduce ongoing community-related expenses.
As presented, Unit 1500 is described as tenant-ready, while Unit 1502 is leased, providing a mix of near-term occupancy flexibility and ongoing rental income within the same duplex structure.
The property is located at 1500 Blackwell Drive in Irving, Texas, in Irving Heights. The listing notes there is no HOA, which can help reduce ongoing community-related expenses.
As presented, Unit 1500 is described as tenant-ready, while Unit 1502 is leased, providing a mix of near-term occupancy flexibility and ongoing rental income within the same duplex structure.
Key Highlights
- 2‑unit duplex with two 2‑bedroom, 1.5‑bath units
- Updated interiors and recently upgraded flooring
- Tenant‑occupied property generating current rental income
Local Financial Insights For Multifamily LT 5
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 | $57.9k | $27.96 |
| − Vacancy | −$5.9k | −$2.84 |
| EGI | $52.0k | $25.12 |
| − OpEx | −$15.6k | −$7.54 |
| NOI | $36.4k | $17.58 |
2,070 SF · lease $27.96/SF/yr · vacancy 10.16% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$520.0K
$455.0K – $606.6K
NOI $36,398 @ 7.0% cap · market cap 8.11%
Second Best
Apartment 5plus
$449.7K
$393.5K – $524.6K
NOI $31,476 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$530.9K
$464.5K – $619.4K
NOI $37,161 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Turnkey duplex with two 2-bedroom, 1.5-bath units featuring updated interiors and recently upgraded flooring.
Where is this duplex located?
The property is located at 1500 Blackwell Drive 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‑unit duplex with two 2‑bedroom, 1.5‑bath units; Updated interiors and recently upgraded flooring; Tenant‑occupied property generating current rental income
