Building Details

Year Built 1988

Listing Agency: Ritchey Real Estate Group

Listed By: SARAH RITCHEY 903-819-6739 Show Phone

Source: Granburyhomefinder

Added: Oct 4 Changed: Oct 11 Last Checked: Oct 12 at 8:38PM

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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 Ritchey Real Estate Group

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,365

Cap Rate

3.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$287,300 $287.3K

Cap Rate 7%

$205,214 $205.2K

Cap Rate 9%

$159,611 $159.6K

Market Conditions

NOI Build-Up for 1,874 SF

Gross rent

$23.2K $12.36/SF

− Vacancy

−$2.6K −$1.41/SF

EGI

$20.5K $10.95/SF

− OpEx

−$6.2K −$3.29/SF

NOI

$14.4K $7.67/SF

Area

Grayson County, TX

Vacancy

11.40%

Lease Rate

$12.36 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$287,300

Cap Rate 7%

$205,214

Cap Rate 9%

$159,611

Alternative Uses

Best Use

Multifamily LT 5

$205.2K

$179.6K – $239.4K (±1% cap)

NOI $14,365 @ 7.0% cap · market cap 3.59%

Second Best

Apartment 5plus

$181.9K

$159.2K – $212.3K (±1% cap)

NOI $12,735 @ 7.0% cap · market cap 3.18%

Theoretical Best

Hotel Hospitality

$961.4K

$841.2K – $1.12M (±1% cap)

NOI $67,295 @ 7.0% cap · market cap 16.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Auto Repair Shop HVAC Service Big Box & Wholesale Store Real Estate Agency Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

117

Businesses Nearby

Explore this area Business Placement

Demographics for 76233, TX

3,719

Population

1,433

Households

2.6

Avg Household Size

39

Median Age

25%

College-Educated

94%

High-School Grad

60.3 sq mi

ZIP Area

62

Density / Sq Mi

$65,701

Median Household Income

$45,186

Median Earnings

$1,070

Median Rent

$228,400

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

Where is this duplex located?

The property is located at 206 & 208 202 Pecan St Collinsville, TX.

What is the asking price?

The asking price for this property is $400,000.