Duplex with Fenced
For Sale
$430,000
2423 Limestone Drive, Arlington, TX 76014
Two matching units offer two bedrooms, one bath, and open-plan interiors.
Property Size2,072 SF
Price / SF$207.53
Days on Market172
Property Features for 2423 Limestone Drive
General Information
Standard status
Active
Size
2,072 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
fenced backyard
outdoor storage
Ceiling Fan(s), Central Air
Central
Carpet, Ceramic Tile
Dishwasher, Electric Range
Window Coverings
Cable TV Available, Double Vanity, Vaulted Ceiling(s)
No
Composition
One
Back Yard, Wood
Covered Patio/Porch
1
Slab
Public Records
2
Brick
Front Porch
Building Details
Year Built
1983
Buildings
1
Listing Agency:
Seeto Realty
(214) 783-7960
Listed By:
Jennifer Kirk · License #0584526
(214) 783-7960
Source:
Compass
Added: Mar 15
Changed: Aug 31
Last Checked: Aug 29 at 7:44PM
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 Seeto Realty
Investment Insights
Based on property information with market context.
This 2,072-square-foot duplex contains two units, each configured with 2 bedrooms and 1 bath. Both residences feature open living areas, split-bedroom layouts, vaulted living-room ceilings, and kitchens with elevated breakfast bars. Central air, ceiling fans, window coverings, patio blinds, dishwashers, and electric ranges are included. Double-vanity bathrooms provide additional counter space, while primary bedrooms connect privately to the baths and open to the backyard through patio doors.
The property occupies a corner lot at 2423 Limestone Drive in Arlington, Texas. Each unit has access to a private patio door, and the fenced backyard includes additional outdoor storage. Covered patio and front porch areas expand the exterior layout, with off-street parking for two vehicles. The duplex was built in 1983 and has a slab foundation with brick exterior elements.
The property occupies a corner lot at 2423 Limestone Drive in Arlington, Texas. Each unit has access to a private patio door, and the fenced backyard includes additional outdoor storage. Covered patio and front porch areas expand the exterior layout, with off-street parking for two vehicles. The duplex was built in 1983 and has a slab foundation with brick exterior elements.
Key Highlights
- Two‑unit duplex with 2,072 SF of total property size
- Each unit includes 2 bedrooms and 1 bath
- Open floor plans with split bedrooms and vaulted living‑room ceilings
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
$25,331
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
5.89%
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%
$506,620
$506.6K
Cap Rate 7%
$361,871
$361.9K
Cap Rate 9%
$281,456
$281.5K
Market Conditions
NOI Build-Up for 2,072 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
$40.3K $19.44/SF
− Vacancy
−$4.1K −$1.98/SF
EGI
$36.2K $17.46/SF
− OpEx
−$10.9K −$5.24/SF
NOI
$25.3K $12.23/SF
Area
ZIP 76014
Vacancy
10.16%
Lease Rate
$19.44 /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%
$506,620
Cap Rate 7%
$361,871
Cap Rate 9%
$281,456
Alternative Uses
Best Use
Multifamily LT 5
$361.9K
$316.6K – $422.2K
NOI $25,331 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$321.0K
$280.9K – $374.5K
NOI $22,470 @ 7.0% cap · market cap 5.23%
Theoretical Best
Warehouse
$549.2K
$480.6K – $640.8K
NOI $38,445 @ 7.0% cap · market cap 8.94%
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
646
Businesses Nearby
Explore this area
Business Placement
Demographics for 76014, TX
35,954
Population
11,274
Households
3.2
Avg Household Size
32
Median Age
18%
College-Educated
76%
High-School Grad
5.7 sq mi
ZIP Area
6,308
Density / Sq Mi
$63,196
Median Household Income
$34,129
Median Earnings
$1,516
Median Rent
$217,600
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 - Two matching units offer two bedrooms, one bath, and open-plan interiors.
Where is this duplex located?
The property is located at 2423 Limestone Drive Arlington, TX.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,072 SF of total property size; Each unit includes 2 bedrooms and 1 bath; Open floor plans with split bedrooms and vaulted living‑room ceilings
