Duplex with Four Garage
New
For Sale
$619,000
2118 Trellis Place, Richardson, TX 75281
Two occupied units with recent mechanical, foundation, and plumbing improvements near Richardson schools and daily amenities.
Property Size3,296 SF
Days on Market7
Property Features for 2118 Trellis Place
General Information
Standard status
Active
Size
3,296 SF
Total Parking Spaces
4
Property subtype
Duplex
Occupancy
100%
Additional Details
Gross Income
$52,200
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,497
Building Details
Building Size
3,296 SF
Year Built
1974
Buildings
1
Tenancy
Multi
Listing Agency:
Berkshire HathawayHS PenFed TX
Listed By:
Phuong Nguyen
(214) 257-1111
Source:
Nilesrealtygroup
Added: Aug 29
Last Checked: Sep 1 at 11:55PM
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 Berkshire HathawayHS PenFed TX
Investment Insights
Based on property information with market context.
Built in 1974, this duplex contains 6 bedrooms, 4 bathrooms, and 4 garage spaces across two residential units. Both units are currently rented. Unit 2118 has granite countertops, stainless steel appliances, and remodeled bathrooms, while Unit 2120 retains its existing finishes. New HVAC systems were installed in 2026, and completed foundation and plumbing repairs add to the property’s recent improvement history.
The property is located in Richardson, TX, within Richardson schools and near shopping, dining, and everyday amenities. Its two-unit configuration, occupied status, garage capacity, and completed capital work provide a clear residential income-property profile.
The property is located in Richardson, TX, within Richardson schools and near shopping, dining, and everyday amenities. Its two-unit configuration, occupied status, garage capacity, and completed capital work provide a clear residential income-property profile.
Key Highlights
- Duplex configuration with 6 bedrooms and 4 bathrooms
- 4 garage spaces across the property
- Both units are currently rented
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
$31,905
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
5.15%
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%
$638,100
$638.1K
Cap Rate 7%
$455,786
$455.8K
Cap Rate 9%
$354,500
$354.5K
Market Conditions
NOI Build-Up for 3,296 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
$50.6K $15.36/SF
− Vacancy
−$5.0K −$1.53/SF
EGI
$45.6K $13.83/SF
− OpEx
−$13.7K −$4.15/SF
NOI
$31.9K $9.68/SF
Area
Richardson, TX
Vacancy
9.97%
Lease Rate
$15.36 /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%
$638,100
Cap Rate 7%
$455,786
Cap Rate 9%
$354,500
Alternative Uses
Best Use
Multifamily LT 5
$455.8K
$398.8K – $531.8K
NOI $31,905 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$408.9K
$357.8K – $477.0K
NOI $28,620 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$1.00M
$875.7K – $1.17M
NOI $70,055 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Explore this area
Business Placement
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 - Two occupied units with recent mechanical, foundation, and plumbing improvements near Richardson schools and daily amenities.
Where is this duplex located?
The property is located at 2118 Trellis Place Richardson, TX.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Duplex configuration with 6 bedrooms and 4 bathrooms; 4 garage spaces across the property; Both units are currently rented
