Springtown Duplex: Income-Producing
For Sale
$494,990
228 Saint Charles Dr, Springtown, TX 76082
Well-maintained duplex with modern finishes in rapidly growing Springtown.
Property Size2,592 SF
Days on Market193
Property Features for 228 Saint Charles Dr
General Information
Standard status
Active
Size
2,592 SF
Property subtype
Investment
Lease Term
12 months
Taxes and HOA fees
Annual Taxes
$10,995
Building Details
Building Size
2,592 SF
Year Built
2022
Stories
1
Units
2
Listing Agency:
Keller Williams Realty 455-0100
Listed By:
Vasha Chevalier · License #0588462
(832) 689-4873
Source:
Elliman
Added: Apr 24
Changed: Nov 2
Last Checked: Nov 1 at 6:06AM
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 Keller Williams Realty 455-0100
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Investment Insights
Based on property information with market context.
This well-maintained duplex in Springtown presents a turnkey opportunity for investors or buyers seeking an income-producing property. The property features two identical units, each with 3 bedrooms and 2 bathrooms. One unit is currently leased, providing immediate cash flow. Both units feature modern finishes, including wood-look tile flooring, granite countertops, stainless steel appliances, and a large kitchen island. Natural light fills the space. The primary suite is designed for privacy and includes a dual vanity and a large walk-in closet. Outdoor living is enhanced by a sprawling covered patio and a large backyard. Each unit also includes a spacious in-home laundry room, a 1-car garage, and an extended driveway with two additional parking spaces. The property is located in a car-dependent area with a walk score of 4, but is somewhat bikeable with a bike score of 16. The property can be owner-occupied, with the other unit leased, or added to an investment portfolio.
Key Highlights
- Turnkey duplex in rapidly growing Springtown, offering immediate income potential.
- Two identical 3‑bedroom, 2‑bathroom units with modern finishes.
- One unit is already leased, providing immediate cash flow.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,414
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$788,280
$788.3K
Cap Rate 7%
$563,057
$563.1K
Cap Rate 9%
$437,933
$437.9K
Market Conditions
NOI Build-Up for 2,592 SF
Gross rent
$80.2K $30.96/SF
− Vacancy
−$8.6K −$3.31/SF
EGI
$71.7K $27.65/SF
− OpEx
−$32.2K −$12.44/SF
NOI
$39.4K $15.21/SF
Area
Parker County, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$788,280
Cap Rate 7%
$563,057
Cap Rate 9%
$437,933
Alternative Uses
Best Use
Multifamily LT 5
$651.1K
$569.7K – $759.6K
NOI $45,576 @ 7.0% cap · market cap 9.21%
Second Best
Apartment 5plus
$563.1K
$492.7K – $656.9K
NOI $39,414 @ 7.0% cap · market cap 7.96%
Theoretical Best
Industrial
$2.58M
$2.25M – $3.00M
NOI $180,290 @ 7.0% cap · market cap 36.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
315
Businesses Nearby
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Business Placement
Demographics for 76082, TX
21,514
Population
8,576
Households
2.5
Avg Household Size
40
Median Age
16%
College-Educated
87%
High-School Grad
102.8 sq mi
ZIP Area
209
Density / Sq Mi
$93,553
Median Household Income
$49,323
Median Earnings
$1,275
Median Rent
$277,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with modern finishes in rapidly growing Springtown.
Where is this duplex located?
The property is located at 228 Saint Charles Dr Springtown, TX.
What is the asking price?
The asking price for this property is $494,990.
What are key features of this property?
This property features: Turnkey duplex in rapidly growing Springtown, offering immediate income potential.; Two identical 3‑bedroom, 2‑bathroom units with modern finishes.; One unit is already leased, providing immediate cash flow.
