Updated Triplex with Garage
New
For Sale
$550,000
2100 Ashland Avenue, Fort Worth, TX 76107
Three distinct living units include renovated kitchens and baths, a tenant-occupied middle unit, and a furnished month-to-month apartment.
Property Size2,569 SF
Days on Market5
Property Features for 2100 Ashland Avenue
General Information
Standard status
Active
Size
2,569 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,288
Building Details
Building Size
2,569 SF
Year Built
1922
Listing Agency:
Smith-Wallace Properties, LLC
Listed By:
Terry Smith
(817) 763-9700
Source:
Nilesrealtygroup
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 14 at 9:06AM
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 Smith-Wallace Properties, LLC
Investment Insights
Based on property information with market context.
This 1922 triplex comprises three distinct living spaces. The front unit has a downstairs primary bedroom, two upper-level bedrooms, one upstairs bath, and a kitchen renovated with new cabinetry, appliances, and granite countertops in 2023. Both of its bathrooms have been improved. The middle unit is occupied by a long-term tenant and includes two split bedrooms, an updated bathroom, breakfast space, and a formal dining room. A garage apartment provides a large bedroom, living room, kitchen, and updated bathroom; it is furnished and leased month to month. The furnishings and stackable washer and dryer may remain.
Property improvements include rear sewer line replacement in 2013, roof replacement across all units in 2016, foundation work in 2016, insulation added throughout in 2019, and water line replacement in 2022. Many windows were replaced from 2016–2018. Individual utility meters are installed for each unit and can be read by the owner. A new compressor was installed in the middle unit in 2026.
Property improvements include rear sewer line replacement in 2013, roof replacement across all units in 2016, foundation work in 2016, insulation added throughout in 2019, and water line replacement in 2022. Many windows were replaced from 2016–2018. Individual utility meters are installed for each unit and can be read by the owner. A new compressor was installed in the middle unit in 2026.
Key Highlights
- Three‑unit configuration with front residence, tenant‑occupied middle unit, and garage apartment
- Front unit kitchen renovated in 2023 with new cabinets, appliances, and granite countertops
- Garage apartment is furnished and leased month to month; furnishings and stackable washer and dryer may remain
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
$44,978
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
8.18%
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%
$899,560
$899.6K
Cap Rate 7%
$642,543
$642.5K
Cap Rate 9%
$499,756
$499.8K
Market Conditions
NOI Build-Up for 2,569 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
$71.5K $27.84/SF
− Vacancy
−$7.3K −$2.83/SF
EGI
$64.3K $25.01/SF
− OpEx
−$19.3K −$7.50/SF
NOI
$45.0K $17.51/SF
Area
Fort Worth, TX
Vacancy
10.16%
Lease Rate
$27.84 /SF/Yr
Expense Ratio
30.00%
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%
$899,560
Cap Rate 7%
$642,543
Cap Rate 9%
$499,756
Alternative Uses
Best Use
Multifamily LT 5
$642.5K
$562.2K – $749.6K
NOI $44,978 @ 7.0% cap · market cap 8.18%
Second Best
Apartment 5plus
$558.1K
$488.3K – $651.1K
NOI $39,064 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$933.2K
$816.6K – $1.09M
NOI $65,325 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
746
Businesses Nearby
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Business Placement
Demographics for 76107, TX
31,591
Population
17,957
Households
1.8
Avg Household Size
37
Median Age
55%
College-Educated
91%
High-School Grad
10.7 sq mi
ZIP Area
2,952
Density / Sq Mi
$79,473
Median Household Income
$54,461
Median Earnings
$1,501
Median Rent
$431,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three distinct living units include renovated kitchens and baths, a tenant-occupied middle unit, and a furnished month-to-month apartment.
Where is this triplex located?
The property is located at 2100 Ashland Avenue Fort Worth, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Three‑unit configuration with front residence, tenant‑occupied middle unit, and garage apartment; Front unit kitchen renovated in 2023 with new cabinets, appliances, and granite countertops; Garage apartment is furnished and leased month to month; furnishings and stackable washer and dryer may remain
