Building Details

Year Built 1979

Buildings 2

Listing Agency: One West Real Estate Co. LLC

Listed By: Angela Hornburg · License #0620365 Show Phone

Source: Aboveandbeyondrealty

Added: Aug 8 Changed: Oct 9 Last Checked: Oct 16 at 11:56AM

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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 One West Real Estate Co. LLC

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Investment Insights

Based on property information with market context.

This duplex-style property includes two separate residences on one fully fenced lot. The primary home measures 2,800 square feet and offers three bedrooms, two bathrooms, formal living and dining areas, a family room, and a kitchen with 42-inch solid wood cabinetry. Fresh interior paint updates the main residence, while two storage sheds expand the available utility space. A two-car carport serves the property.

The detached cottage contains 800 square feet with two bedrooms, one bathroom, a separate entrance, its own fenced yard, and dedicated parking. It is currently tenant occupied and independently metered from the main home. Both residences have HVAC systems less than 10 years old, and the water heaters are less than 2 years old. The well pump was replaced in September 2025. Located outside city limits at 214 County Rd 4870 in Newark, Texas, the property was built in 1979.

Key Highlights

• Two separate residences on one fully fenced lot
• 2,800‑square‑foot main home with 3 bedrooms and 2 bathrooms
• 800‑square‑foot detached cottage with 2 bedrooms and 1 bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,733

Cap Rate

5.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$434,660 $434.7K

Cap Rate 7%

$310,471 $310.5K

Cap Rate 9%

$241,478 $241.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,885 SF

Gross rent

$35.0K $12.12/SF

− Vacancy

−$3.9K −$1.36/SF

EGI

$31.0K $10.76/SF

− OpEx

−$9.3K −$3.23/SF

NOI

$21.7K $7.53/SF

Area

Wise County, TX

Vacancy

11.21%

Lease Rate

$12.12 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$434,660

Cap Rate 7%

$310,471

Cap Rate 9%

$241,478

Alternative Uses

Best Use

Multifamily LT 5

$310.5K

$271.7K – $362.2K (±1% cap)

NOI $21,733 @ 7.0% cap · market cap 5.00%

Second Best

Apartment 5plus

$269.9K

$236.2K – $314.9K (±1% cap)

NOI $18,893 @ 7.0% cap · market cap 4.34%

Theoretical Best

Hotel Hospitality

$2.17M

$1.90M – $2.54M (±1% cap)

NOI $152,112 @ 7.0% cap · market cap 34.97%

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

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Auto Parts Store HVAC Service Restaurant Hair Salon

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

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

102

Businesses Nearby

Explore this area Business Placement

Demographics for 76071, TX

4,220

Population

1,579

Households

2.7

Avg Household Size

37

Median Age

16%

College-Educated

83%

High-School Grad

8.9 sq mi

ZIP Area

474

Density / Sq Mi

$102,654

Median Household Income

$53,084

Median Earnings

$1,253

Median Rent

$286,500

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Separate residences provide flexible living arrangements with independent metering, private outdoor areas, and dedicated parking for the cottage.

Where is this duplex located?

The property is located at 214 County Rd 4870 Newark, TX.

What is the asking price?

The asking price for this property is $435,000.

What are key features of this property?

This property features: Two separate residences on one fully fenced lot; 2,800‑square‑foot main home with 3 bedrooms and 2 bathrooms; 800‑square‑foot detached cottage with 2 bedrooms and 1 bathroom