Updated Duplex with Two-Car
For Sale
$650,000
2134 Trellis Pl, Richardson, TX 75081
Remodeled two-unit property with private fenced yards, fireplaces, vaulted ceilings, and garage parking for each residence.
Property Size3,222 SF
Price / SF$201.74
Days on Market40
Property Features for 2134 Trellis Pl
General Information
Standard status
Active
Size
3,222 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
wood fenced yards
brick fireplaces
vaulted ceilings
Building Details
Year Built
1974
Buildings
1
Listing Agency:
NewGen Properties LLC
(817) 909-6600
Listed By:
Susan Wilson, Kate Wilson Wilson
Source:
Christenberrygroup
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 29 at 11:36AM
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 NewGen Properties LLC
Investment Insights
Based on property information with market context.
This duplex contains 3,222 square feet across two residences, with a 1.5-story layout and two-car garage serving each side. Both units include wood-fenced yards, brick fireplaces, and vaulted ceilings. The property was remodeled a couple of years ago, and unit 2136 has a new AC system.
Built in 1974, the property is located at 2134 Trellis Pl in Richardson, Texas. It is within FEMA flood zone X, identified in the source information as representing minimal flood risk.
Built in 1974, the property is located at 2134 Trellis Pl in Richardson, Texas. It is within FEMA flood zone X, identified in the source information as representing minimal flood risk.
Key Highlights
- 3,222‑square‑foot duplex with two residential units
- Two‑car garage for each side
- Wood‑fenced yard serving both units
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
$31,189
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
4.80%
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%
$623,780
$623.8K
Cap Rate 7%
$445,557
$445.6K
Cap Rate 9%
$346,544
$346.5K
Market Conditions
NOI Build-Up for 3,222 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
$49.5K $15.36/SF
− Vacancy
−$4.9K −$1.53/SF
EGI
$44.6K $13.83/SF
− OpEx
−$13.4K −$4.15/SF
NOI
$31.2K $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%
$623,780
Cap Rate 7%
$445,557
Cap Rate 9%
$346,544
Alternative Uses
Best Use
Multifamily LT 5
$445.6K
$389.9K – $519.8K
NOI $31,189 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$399.7K
$349.7K – $466.3K
NOI $27,978 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$978.3K
$856.0K – $1.14M
NOI $68,482 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Explore this area
Business Placement
Demographics for 75081, TX
37,766
Population
14,662
Households
2.6
Avg Household Size
37
Median Age
45%
College-Educated
90%
High-School Grad
9.0 sq mi
ZIP Area
4,196
Density / Sq Mi
$90,953
Median Household Income
$50,026
Median Earnings
$1,765
Median Rent
$340,600
Median Home Value
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 - Remodeled two-unit property with private fenced yards, fireplaces, vaulted ceilings, and garage parking for each residence.
Where is this duplex located?
The property is located at 2134 Trellis Pl Richardson, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,222‑square‑foot duplex with two residential units; Two‑car garage for each side; Wood‑fenced yard serving both units
