Updated Duplex with Shared
For Sale
$345,000
2961 Marys Lane, Fort Worth, TX 76116
Two-unit property with renovated interiors, gated outdoor areas, covered patios, and recent driveway and carport improvements.
Property Size1,841 SF
Price / SF$187.40
Days on Market145
Property Features for 2961 Marys Lane
General Information
Standard status
Active
Size
1,841 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Additional Details
Multifamily Units
2
Amenities
shared outdoor space
gated yard
carport
Ceiling Fan(s), Central Air, Electric
Central, Natural Gas
Carpet, Ceramic Tile, Wood
Dishwasher, Disposal, Electric Range
Cable TV Available, High Speed Internet Available
No
Composition
One
Back Yard, Chain Link
Covered Patio/Porch, Rain Gutters, Private Yard
1
Other
Assessor
2
Brick
Building Details
Year Built
1959
Buildings
1
Listing Agency:
Keller Williams Rockwall
(214) 641-6434
Listed By:
Rod Holland · License #0361507
(214) 641-6434
Source:
Compass
Added: Apr 7
Changed: Aug 29
Last Checked: Aug 29 at 7:38PM
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 Rockwall
Investment Insights
Based on property information with market context.
This duplex contains two separate residences measuring 761 square feet and 1,040 square feet. The smaller unit received improvements in 2019, including refreshed kitchen and bath finishes, refinished flooring, revised laundry space, a rear bedroom door, and a covered patio. Updates to the larger unit were completed in 2021 and include bathroom tile and toilet replacements, new carpet, repainted cabinetry, a revised backsplash, laminate counters, and a bar seating area.
Both units connect to a gated shared yard with designated seating areas. The property also includes central air, ceiling fans, dishwasher and disposal equipment, electric ranges, ceramic tile, wood and carpet flooring, covered patio or porch areas, rain gutters, a chain-link fence, and a brick exterior. A new driveway was poured and the carport was painted in 2025. Built in 1959, the duplex is located at 2961 Marys Lane in Fort Worth, Texas 76116.
Both units connect to a gated shared yard with designated seating areas. The property also includes central air, ceiling fans, dishwasher and disposal equipment, electric ranges, ceramic tile, wood and carpet flooring, covered patio or porch areas, rain gutters, a chain-link fence, and a brick exterior. A new driveway was poured and the carport was painted in 2025. Built in 1959, the duplex is located at 2961 Marys Lane in Fort Worth, Texas 76116.
Key Highlights
- Two‑unit duplex with 761‑square‑foot and 1,040‑square‑foot residences
- 2019 updates to the smaller unit include kitchen, bath, flooring, laundry area, rear bedroom door, and covered patio
- 2021 improvements to the larger unit include bathroom finishes, carpet, kitchen cabinetry, backsplash, counters, and bar seating
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
$27,994
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
8.11%
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%
$559,880
$559.9K
Cap Rate 7%
$399,914
$399.9K
Cap Rate 9%
$311,044
$311.0K
Market Conditions
NOI Build-Up for 1,841 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
$57.0K $30.96/SF
− Vacancy
−$6.1K −$3.31/SF
EGI
$50.9K $27.65/SF
− OpEx
−$22.9K −$12.44/SF
NOI
$28.0K $15.21/SF
Area
Fort Worth, 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 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%
$559,880
Cap Rate 7%
$399,914
Cap Rate 9%
$311,044
Alternative Uses
Best Use
Multifamily LT 5
$460.5K
$402.9K – $537.2K
NOI $32,232 @ 7.0% cap · market cap 9.34%
Second Best
Apartment 5plus
$399.9K
$349.9K – $466.6K
NOI $27,994 @ 7.0% cap · market cap 8.11%
Theoretical Best
Office A
$668.8K
$585.2K – $780.2K
NOI $46,813 @ 7.0% cap · market cap 13.57%
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
1,199
Businesses Nearby
Explore this area
Business Placement
Demographics for 76116, TX
51,639
Population
25,808
Households
2
Avg Household Size
35
Median Age
33%
College-Educated
88%
High-School Grad
12.3 sq mi
ZIP Area
4,198
Density / Sq Mi
$54,738
Median Household Income
$39,040
Median Earnings
$1,205
Median Rent
$286,500
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-unit property with renovated interiors, gated outdoor areas, covered patios, and recent driveway and carport improvements.
Where is this duplex located?
The property is located at 2961 Marys Lane Fort Worth, TX.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two‑unit duplex with 761‑square‑foot and 1,040‑square‑foot residences; 2019 updates to the smaller unit include kitchen, bath, flooring, laundry area, rear bedroom door, and covered patio; 2021 improvements to the larger unit include bathroom finishes, carpet, kitchen cabinetry, backsplash, counters, and bar seating
