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    Renovated Multi-Unit Investment Property Title is generated by Realmo AI

    20333 Farm Market Road 2493, Bullard, TX 75757

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    For Sale
    $820,000

    MULTI_FAMILY - Bullard, TX

    Lot size:
    1.00 Acre
    Added:
    Mar 20, 2026
    Days on Market:
    76
    Last Refresh:
    Jun 3 at 3:06 pm

    Property Features for 20333 Farm Market Road 2493

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    12
    Bathrooms
    10
    Rooms
    Bedroom 12, Bedroom 1, Bedroom 6, Bedroom 4, Bedroom 2, Bathroom 5, Bathroom 8, Bathroom 10, Bedroom 3, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 10, Bedroom 11, Bedroom 5, Bedroom 8, Bedroom 9, Bathroom 6, Bathroom 9, Bathroom 1, Bedroom 7, Bathroom 7
    Parking
    10
    Parking features
    Covered, Carport
    Interior features
    CathedralCeilings, DecorativeDesignerLightingFixtures, EatInKitchen, GraniteCounters, Pantry, CableTv
    Exterior features
    Awnings, Courtyard, Lighting, PrivateEntrance, PrivateYard, RainGutters
    Appliances
    Dishwasher, ElectricRange, ElectricWaterHeater, Microwave, Refrigerator, VentedExhaustFan
    Standard status
    Active
    APN
    1.80320.0000.00.006020
    Lot size
    1.00 Acre

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, ENERGY STAR Qualified Equipment, Electric, Ceiling Fan(s)

    Building Details

    Year built
    2021
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Vinyl, Carpet
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Lacy Turner

    Listing agent Lacy Turner

    Listing office Platinum Realty Group Tyler LLC Null Zip Code, TX

    Listing date Mar 20, 2026

    MLS# 21210175 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Multi‑family on 1 acre with 5 doors total; duplex and triplex configuration on the same property
    • Duplex: 3‑2, 1,275 SF; Unit 20337 completely renovated in May 2025 with upgraded appliances
    • Triplex: 2‑2 units totaling 1,036 SF, built in 2022
    • Kitchen features include granite counters, pantry, and an eat‑in kitchen; stainless‑style upgraded appliances plus washer & dryer in all units
    • Outdoor living includes covered front and back patios, private yard with rain gutters, and individual privacy fencing in backyards
    • New septic system noted: brand‑new septic tanks with lines; concrete parking slab with 2 spots per unit

    Overview

    This for-sale multi-unit residential property features five total doors, consisting of one duplex and one triplex configuration. The duplex includes two three-bedroom, two-bath units, each with covered tenant parking. One duplex unit was completely renovated in May 2025. The triplex offers three two-bedroom, two-bath units built in 2022, with a layout that includes granite finishes and a farmhouse sink, along with covered front and back patio space. Across all units, upgrades include appliances and in-unit washer and dryer, individual privacy fencing in the backyards, and a concrete parking slab designed for two spots per unit.

    The property sits on one acre in Bullard, Texas, and includes common areas for tenant use. Outside, the setting includes an aerobic sprinkler system in both the front and back yard. The property also has brand-new septic tanks with lines, supporting continued operational reliability for a hands-on rental buyer.

    With all units reported as 100% occupied, this is positioned for investors seeking immediate income with clear unit-by-unit improvements and solid replacement items. The combination of a recently renovated unit, newer construction within the triplex, and dedicated parking and privacy features can appeal to buyers looking to keep tenant turnover manageable while maintaining rental income performance.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Bullard
    County
    Smith
    State
    Texas
    Longitude
    -95.344644
    Latitude
    32.184378

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    FAQs

    What type of property is this?
    Duplex - Five occupied units with modern updates, private outdoor space, and covered parking provide strong everyday rental functionality.
    Where is this duplex located?
    The property is located at 20333 Farm Market Road 2493 Bullard, TX.
    What is the asking price?
    The asking price for this property is $820,000.
    What are key features of this property?
    This property features: Multi‑family on 1 acre with 5 doors total; duplex and triplex configuration on the same property; Duplex: 3‑2, 1,275 SF; Unit 20337 completely renovated in May 2025 with upgraded appliances; Triplex: 2‑2 units totaling 1,036 SF, built in 2022
    (903) 262-0054
    We can help!
    Listing Contact
    Lacy Turner
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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