10-Duplex Multifamily
For Sale
Contact for pricing
1728 E Powell Ave, Fort Worth, TX 76104
Approved plans support a multifamily project with attached garages and phased construction.
Property Size22,272 SF
Price / SF$175.06
Days on Market161
Property Features for 1728 E Powell Ave
General Information
Standard status
Active
Size
22,272 SF
Class
B
Property subtype
Multifamily
Investment Type
Stabilized
Net Operating Income
$241,550
Building Details
Year Built
2026
Buildings
10
Stories
2
Units
20
Listing Agency:
The Peak Group
Listed By:
Steve Olson · License #TX 698316
Source:
Crexi
Added: Mar 23
Changed: Aug 29
Last Checked: Aug 29 at 10:52PM
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 The Peak Group
Investment Insights
Based on property information with market context.
This multifamily property comprises 10 duplexes with a planned 22,272 square feet of building area. Each unit is designed with two bedrooms, one bathroom, and a one-car garage. Four duplexes are under construction, while work on the remaining six is scheduled to begin as soon as possible. Plans have been approved by the City of Fort Worth, and the listed year built is 2026.
The property is positioned within a Federal Opportunity Zone, approximately 5 miles from downtown Fort Worth and Medical City. The seller is a property manager and can provide management services for an investor. The project may be sold once tenants are in place.
The property is positioned within a Federal Opportunity Zone, approximately 5 miles from downtown Fort Worth and Medical City. The seller is a property manager and can provide management services for an investor. The project may be sold once tenants are in place.
Key Highlights
- 10 duplexes totaling 22,272 square feet
- Four of 10 duplexes are under construction; the other 6 to start asap
- Each unit includes 2 beds, 1 bath, and a 1‑car garage
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
$338,668
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
8.69%
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%
$6,773,360
$6.8M
Cap Rate 7%
$4,838,114
$4.8M
Cap Rate 9%
$3,762,978
$3.8M
Market Conditions
NOI Build-Up for 22,272 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
$689.5K $30.96/SF
− Vacancy
−$73.8K −$3.31/SF
EGI
$615.8K $27.65/SF
− OpEx
−$277.1K −$12.44/SF
NOI
$338.7K $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%
$6,773,360
Cap Rate 7%
$4,838,114
Cap Rate 9%
$3,762,978
Alternative Uses
Best Use
Multifamily LT 5
$5.57M
$4.87M – $6.50M
NOI $389,939 @ 7.0% cap · market cap 10.00%
Second Best
Apartment 5plus
$4.84M
$4.23M – $5.64M
NOI $338,668 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$8.09M
$7.08M – $9.44M
NOI $566,332 @ 7.0% cap · market cap 14.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
216
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Approved plans support a multifamily project with attached garages and phased construction.
Where is this duplex located?
The property is located at 1728 E Powell Ave Fort Worth, TX.
What is the asking price?
The asking price for this property is $3,899,000.
What are key features of this property?
This property features: 10 duplexes totaling 22,272 square feet; Four of 10 duplexes are under construction; the other 6 to start asap; Each unit includes 2 beds, 1 bath, and a 1‑car garage
