Two-Unit Duplex with Adjacent
For Sale
$340,000
Pending
2606 Pearl Avenue, Fort Worth, TX 76164
Two residential units offer matching layouts with central air, kitchens, dining areas, and washer and dryer hookups.
Property Size1,666 SF
Lot Size0.23 Acres
Days on Market268
Property Features for 2606 Pearl Avenue
General Information
Standard status
Pending
Size
1,666 SF
Total Parking Spaces
2
Lot size
0.23 Acres
Property subtype
Multi-Family / Full Duplex
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
requires some TLC
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,400
Amenities
washer and dryer hookups
Central Air
Electric
Ceramic Tile
Gas Range
Other
No
Composition
One
1
Slab
See Remarks
2
Frame, See Remarks
Building Details
Year Built
1985
Buildings
1
Listing Agency:
Keller Williams Brazos West
Listed By:
Rosemar Colon · License #0844541
(682) 847-5350
Source:
Compass
Added: Dec 9, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:58PM
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 Brazos West
Investment Insights
Based on property information with market context.
The property is a 1,666-square-foot duplex built in 1985, with two residential units. Each unit includes two bedrooms, one bathroom, a living room, kitchen, small dining area, and washer and dryer hookups. Interior features include central air, ceramic tile, and gas ranges. The property is being sold as-is, with no repairs planned by the seller.
The sale includes the adjacent lot at 2608A Pearl Ave, bringing the combined lot size to approximately 10,000 sqft. Both units are currently occupied and are expected to be vacant before closing. The property is located at 2606 Pearl Avenue in Fort Worth, Texas.
The sale includes the adjacent lot at 2608A Pearl Ave, bringing the combined lot size to approximately 10,000 sqft. Both units are currently occupied and are expected to be vacant before closing. The property is located at 2606 Pearl Avenue in Fort Worth, Texas.
Key Highlights
- Two‑unit duplex with 1,666 SF of building area
- Each unit has 2 bedrooms and 1 bathroom
- Both units include living rooms, kitchens, dining areas, and washer and dryer hookups
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
$29,168
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
8.58%
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%
$583,360
$583.4K
Cap Rate 7%
$416,686
$416.7K
Cap Rate 9%
$324,089
$324.1K
Market Conditions
NOI Build-Up for 1,666 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
$46.4K $27.84/SF
− Vacancy
−$4.7K −$2.83/SF
EGI
$41.7K $25.01/SF
− OpEx
−$12.5K −$7.50/SF
NOI
$29.2K $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%
$583,360
Cap Rate 7%
$416,686
Cap Rate 9%
$324,089
Alternative Uses
Best Use
Multifamily LT 5
$416.7K
$364.6K – $486.1K
NOI $29,168 @ 7.0% cap · market cap 8.58%
Second Best
Apartment 5plus
$361.9K
$316.7K – $422.2K
NOI $25,333 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$605.2K
$529.5K – $706.1K
NOI $42,363 @ 7.0% cap · market cap 12.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
440
Businesses Nearby
Explore this area
Business Placement
Demographics for 76164, TX
15,602
Population
4,866
Households
3.2
Avg Household Size
34
Median Age
5%
College-Educated
52%
High-School Grad
3.9 sq mi
ZIP Area
4,001
Density / Sq Mi
$51,618
Median Household Income
$30,640
Median Earnings
$1,117
Median Rent
$140,200
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?
Duplex - Two residential units offer matching layouts with central air, kitchens, dining areas, and washer and dryer hookups.
Where is this duplex located?
The property is located at 2606 Pearl Avenue Fort Worth, TX.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,666 SF of building area; Each unit has 2 bedrooms and 1 bathroom; Both units include living rooms, kitchens, dining areas, and washer and dryer hookups
