Fully Occupied Duplex Income
For Sale
$549,900
1804 Bristol Cove, Plano, TX 75074
3-bedroom, 2-bath duplex with one unit leased and the other unit vacant and ready for immediate occupancy.
Property Size2,908 SF
Price / SF$189.10
Days on Market98
Property Features for 1804 Bristol Cove
General Information
Standard status
Active
Size
2,908 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1973
Listing Agency:
Real Broker, LLC
Listed By:
K.C. McKeown · License #0690463
(509) 551-4884
Source:
1plusrealty
Added: Jul 21
Changed: Oct 25
Last Checked: Oct 7 at 3:53PM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This fully occupied duplex offers two matching 3-bedroom, 2-bath units with functional layouts designed for straightforward rental use. One unit is currently leased, while the other unit is vacant and ready to lease.
For 1804, the property includes a 2022 replacement HVAC system with ductwork, along with 2024 updates such as a new dishwasher, doors, trim, baseboards, and downstairs flooring, plus a water heater replacement in 2025. For 1806, improvements include a water heater replacement in 2024, a new HVAC system in 2021, and a full remodel completed in 2021.
With one unit set for the lease expiration at the end of July, the buyer has flexibility to renew tenants, adjust rents, or potentially occupy one side while continuing to generate income from the other unit.
For 1804, the property includes a 2022 replacement HVAC system with ductwork, along with 2024 updates such as a new dishwasher, doors, trim, baseboards, and downstairs flooring, plus a water heater replacement in 2025. For 1806, improvements include a water heater replacement in 2024, a new HVAC system in 2021, and a full remodel completed in 2021.
With one unit set for the lease expiration at the end of July, the buyer has flexibility to renew tenants, adjust rents, or potentially occupy one side while continuing to generate income from the other unit.
Key Highlights
- Fully occupied 3‑bedroom, 2‑bath duplex in Plano with one unit leased and the other unit vacant and ready to lease
- Unit 1804 leased for $2,050/month; lease on the occupied unit expires at the end of July
- Recent updates on 1804: new HVAC and ductwork (2022), dishwasher/doors/trim/baseboards and downstairs flooring (2024), water heater (2025)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,883
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$937,660
$937.7K
Cap Rate 7%
$669,757
$669.8K
Cap Rate 9%
$520,922
$520.9K
Market Conditions
NOI Build-Up for 2,908 SF
Gross rent
$75.0K $25.80/SF
− Vacancy
−$8.1K −$2.77/SF
EGI
$67.0K $23.03/SF
− OpEx
−$20.1K −$6.91/SF
NOI
$46.9K $16.12/SF
Area
Plano, TX
Vacancy
10.73%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$937,660
Cap Rate 7%
$669,757
Cap Rate 9%
$520,922
Alternative Uses
Best Use
Multifamily LT 5
$669.8K
$586.0K – $781.4K
NOI $46,883 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$615.3K
$538.4K – $717.9K
NOI $43,071 @ 7.0% cap · market cap 7.83%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
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Business Placement
Demographics for 75074, TX
53,003
Population
19,362
Households
2.7
Avg Household Size
35
Median Age
42%
College-Educated
85%
High-School Grad
16.0 sq mi
ZIP Area
3,313
Density / Sq Mi
$84,185
Median Household Income
$42,523
Median Earnings
$1,678
Median Rent
$347,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - 3-bedroom, 2-bath duplex with one unit leased and the other unit vacant and ready for immediate occupancy.
Where is this duplex located?
The property is located at 1804 Bristol Cove Plano, TX.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Fully occupied 3‑bedroom, 2‑bath duplex in Plano with one unit leased and the other unit vacant and ready to lease; Unit 1804 leased for $2,050/month; lease on the occupied unit expires at the end of July; Recent updates on 1804: new HVAC and ductwork (2022), dishwasher/doors/trim/baseboards and downstairs flooring (2024), water heater (2025)
