4-Unit Multifamily
1501 W Morphy Street, Fort Worth, TX 76104
For Sale
New
$800,000
All four residences are occupied, with a mix of two- and three-bedroom layouts.
Property Size4,552 SF
Days on Market2
Property Features for 1501 W Morphy Street
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
League Real Estate
Listed By:
Ross Utley · License TX #0657253
(817) 368-7887
Source:
Baerealty
Added: Nov 8
Last Checked: Nov 8 at 6:35AM
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 League Real Estate
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Investment Insights
Based on property information with market context.
Built in 1926, this four-unit residential property contains three two-bedroom, one-bathroom residences and one three-bedroom, one-bathroom residence. All units are occupied. The roof was replaced in 2014, followed by plumbing, HVAC, and electrical work in 2016.
The property is one block from Magnolia Avenue in Fort Worth’s Fairmount neighborhood. Restaurants and entertainment venues listed nearby include Salsa Limon, Maggie’s R&R, and Melt Ice Cream. The Medical District and Near Southside are also identified in the surrounding area.
The property is one block from Magnolia Avenue in Fort Worth’s Fairmount neighborhood. Restaurants and entertainment venues listed nearby include Salsa Limon, Maggie’s R&R, and Melt Ice Cream. The Medical District and Near Southside are also identified in the surrounding area.
Key Highlights
- 100% occupancy
- Four residences: three 2‑bedroom, 1‑bathroom units and one 3‑bedroom, 1‑bathroom unit
- Roof replaced in 2014
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,218
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,384,360
$1.4M
Cap Rate 7%
$988,829
$988.8K
Cap Rate 9%
$769,089
$769.1K
Market Conditions
NOI Build-Up for 4,552 SF
Gross rent
$140.9K $30.96/SF
− Vacancy
−$15.1K −$3.31/SF
EGI
$125.9K $27.65/SF
− OpEx
−$56.6K −$12.44/SF
NOI
$69.2K $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 Rate 5%
$1,384,360
Cap Rate 7%
$988,829
Cap Rate 9%
$769,089
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$996.2K – $1.33M
NOI $79,697 @ 7.0% cap · market cap 9.96%
Second Best
Apartment 5plus
$988.8K
$865.2K – $1.15M
NOI $69,218 @ 7.0% cap · market cap 8.65%
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,748 @ 7.0% cap · market cap 14.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
5,370
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
$145,000
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Fort Worth, TX
Properties on Market for Quadplexes in Fort Worth
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are occupied, with a mix of two- and three-bedroom layouts.
Where is this quadplex located?
The property is located at 1501 W Morphy Street Fort Worth, TX.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 100% occupancy; Four residences: three 2‑bedroom, 1‑bathroom units and one 3‑bedroom, 1‑bathroom unit; Roof replaced in 2014
