Quadplex With Private
For Sale
$700,000
2230 Washington Avenue, Fort Worth, TX 76110
Four residential units feature two-bedroom layouts, individual outdoor space, and dedicated parking.
Property Size2,744 SF
Price / SF$255.10
Days on Market183
Property Features for 2230 Washington Avenue
General Information
Standard status
Active
Size
2,744 SF
Total Parking Spaces
6
Property subtype
Multi-Family / Fourplex
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Parking per Unit
2
Amenities
private backyard
Central Air
Electric
Ceramic Tile, Vinyl
Dishwasher, Electric Range
2744.0
Cable TV Available, Granite Counters, High Speed Internet Available
No
Composition
One
1
Slab
Assessor
4
Brick
Building Details
Year Built
1983
Buildings
2
Listing Agency:
League Real Estate
Listed By:
Matt Lewis · License #0502746
(972) 849-9889
Source:
Compass
Added: Mar 4
Changed: Aug 31
Last Checked: Aug 30 at 5:02AM
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 League Real Estate
Investment Insights
Based on property information with market context.
This Fort Worth quadplex comprises two matching duplex buildings offered together, with four total units and 2,744 square feet of property size. Each residence includes two bedrooms, one bathroom, a private backyard, and two parking spaces. Interior features include central air, ceramic tile and vinyl flooring, granite counters, a dishwasher, and an electric range. The property was built in 1983 and has been recently updated.
Located at 2230 Washington Avenue in the Fairmount area, the property sits within one mile of the hospital district, TCU, and downtown Fort Worth. Cable TV and high-speed internet are available, and the buildings have brick exteriors with composition roofing and slab foundations.
Located at 2230 Washington Avenue in the Fairmount area, the property sits within one mile of the hospital district, TCU, and downtown Fort Worth. Cable TV and high-speed internet are available, and the buildings have brick exteriors with composition roofing and slab foundations.
Key Highlights
- Two matching duplexes offered together as a four‑unit property
- 2,744 square feet of property size
- Each unit offers 2 bedrooms and 1 bathroom
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
$48,042
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
6.86%
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%
$960,840
$960.8K
Cap Rate 7%
$686,314
$686.3K
Cap Rate 9%
$533,800
$533.8K
Market Conditions
NOI Build-Up for 2,744 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
$76.4K $27.84/SF
− Vacancy
−$7.8K −$2.83/SF
EGI
$68.6K $25.01/SF
− OpEx
−$20.6K −$7.50/SF
NOI
$48.0K $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%
$960,840
Cap Rate 7%
$686,314
Cap Rate 9%
$533,800
Alternative Uses
Best Use
Multifamily LT 5
$686.3K
$600.5K – $800.7K
NOI $48,042 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$596.1K
$521.6K – $695.4K
NOI $41,725 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$996.8K
$872.2K – $1.16M
NOI $69,774 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,940
Businesses Nearby
Explore this area
Business Placement
Demographics for 76110, TX
29,858
Population
12,497
Households
2.4
Avg Household Size
33
Median Age
29%
College-Educated
68%
High-School Grad
5.7 sq mi
ZIP Area
5,238
Density / Sq Mi
$68,435
Median Household Income
$36,262
Median Earnings
$1,255
Median Rent
$239,200
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?
Quadplex - Four residential units feature two-bedroom layouts, individual outdoor space, and dedicated parking.
Where is this quadplex located?
The property is located at 2230 Washington Avenue Fort Worth, TX.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Two matching duplexes offered together as a four‑unit property; 2,744 square feet of property size; Each unit offers 2 bedrooms and 1 bathroom
