Updated Duplex with Garage
For Sale
$650,000
2508 Hulen Street, Fort Worth, TX 76107
Renovated main residence pairs historic character with a detached unit and covered outdoor space.
Property Size2,106 SF
Price / SF$308.64
Days on Market194
Property Features for 2508 Hulen Street
General Information
Standard status
Active
Size
2,106 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Multiple Single Units
Amenities
Central Air
Central
No
Hardwood, Tile
Dishwasher, Disposal, Gas Cooktop, Water Filter
2106.0
Window Coverings
1
Built-in Features, Kitchen Island, Open Floorplan
Brick, Gas
Yes
Composition, Shingle
Two
Back Yard, High Fence, Wood
Covered Patio/Porch, Rain Gutters, Private Yard
2
Pillar/Post/Pier
Public Records
Frame, Siding, Wood
Front Porch
Building Details
Year Built
1935
Buildings
2
Listing Agency:
Austin Marketing + Development
Listed By:
Alex Bartram · License #0615893
(713) 304-7474
Source:
Compass
Added: Feb 20
Changed: Aug 31
Last Checked: Aug 29 at 9:14PM
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 Austin Marketing + Development
Investment Insights
Based on property information with market context.
This 2,106-square-foot duplex combines a restored Craftsman main residence with a detached garage apartment. The front home includes 2 bedrooms and 2 bathrooms, hardwood and tile flooring, an open floor plan, kitchen island, central air, and a covered front porch. A wraparound porch, original architectural details, and a mature pecan tree retain the property's traditional character.
Both structures were improved in 2022 with a new roof, interior and exterior paint, leveled foundation, updated flooring and countertops, new appliances, and substantial electrical and plumbing work. The plumbing scope included full pipe replacement to the street. The detached apartment is furnished and leased through July 2026, while the front residence is vacant. Additional features include a fenced backyard, private yard, rain gutters, and two covered outdoor areas.
Both structures were improved in 2022 with a new roof, interior and exterior paint, leveled foundation, updated flooring and countertops, new appliances, and substantial electrical and plumbing work. The plumbing scope included full pipe replacement to the street. The detached apartment is furnished and leased through July 2026, while the front residence is vacant. Additional features include a fenced backyard, private yard, rain gutters, and two covered outdoor areas.
Key Highlights
- 2,106‑square‑foot duplex with a 2‑bedroom, 2‑bathroom main residence
- Detached, fully furnished garage apartment leased through July 2026
- Both structures restored in 2022 with new roof, paint, flooring, counters, and appliances
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
$36,872
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
5.67%
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%
$737,440
$737.4K
Cap Rate 7%
$526,743
$526.7K
Cap Rate 9%
$409,689
$409.7K
Market Conditions
NOI Build-Up for 2,106 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
$58.6K $27.84/SF
− Vacancy
−$6.0K −$2.83/SF
EGI
$52.7K $25.01/SF
− OpEx
−$15.8K −$7.50/SF
NOI
$36.9K $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%
$737,440
Cap Rate 7%
$526,743
Cap Rate 9%
$409,689
Alternative Uses
Best Use
Multifamily LT 5
$526.7K
$460.9K – $614.5K
NOI $36,872 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$457.5K
$400.3K – $533.7K
NOI $32,024 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$765.0K
$669.4K – $892.5K
NOI $53,551 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
886
Businesses Nearby
Explore this area
Business Placement
Demographics for 76107, TX
31,591
Population
17,957
Households
1.8
Avg Household Size
37
Median Age
55%
College-Educated
91%
High-School Grad
10.7 sq mi
ZIP Area
2,952
Density / Sq Mi
$79,473
Median Household Income
$54,461
Median Earnings
$1,501
Median Rent
$431,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Renovated main residence pairs historic character with a detached unit and covered outdoor space.
Where is this duplex located?
The property is located at 2508 Hulen Street Fort Worth, 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: 2,106‑square‑foot duplex with a 2‑bedroom, 2‑bathroom main residence; Detached, fully furnished garage apartment leased through July 2026; Both structures restored in 2022 with new roof, paint, flooring, counters, and appliances
