Updated Duplex with Flexible Unit
For Sale
$399,999
2971 Loving Avenue, Fort Worth, TX 76106
Vacant two-unit property with central air, refreshed interiors, and kitchen appliances in both living spaces.
Property Size2,256 SF
Price / SF$177.30
Days on Market174
Property Features for 2971 Loving Avenue
General Information
Standard status
Active
Size
2,256 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Full Duplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
Central Air
Central
Carpet, Ceramic Tile, Luxury Vinyl Plank
Dishwasher, Disposal, Electric Range
Decorative Lighting, Open Floorplan
No
Composition
One
1
Slab
Public Records
2
Brick
Building Details
Year Built
2004
Buildings
1
Listing Agency:
Real Sense Real Estate
(817) 524-5790
Listed By:
Ariel Del Fierro · License #0692386
(817) 524-5790
Source:
Compass
Added: Mar 11
Changed: Aug 30
Last Checked: Aug 31 at 1:01AM
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 Real Sense Real Estate
Investment Insights
Based on property information with market context.
Located at 2971 Loving Avenue in Fort Worth, this duplex was built in 2004 and recently updated. The property contains 2,256 square feet and offers a three-bedroom, two-bathroom unit alongside a two-bedroom, one-bathroom unit. Both residences are currently vacant, allowing a new owner to determine leasing arrangements and tenant placement.
Interior features include central air, open floorplans, decorative lighting, carpet, ceramic tile, and luxury vinyl plank flooring. Kitchens are equipped with dishwashers, disposals, and electric ranges. Exterior construction details include brick, a slab foundation, and a composition element. The property is positioned for buyers seeking a duplex with a defined unit mix and recently refreshed living areas.
Interior features include central air, open floorplans, decorative lighting, carpet, ceramic tile, and luxury vinyl plank flooring. Kitchens are equipped with dishwashers, disposals, and electric ranges. Exterior construction details include brick, a slab foundation, and a composition element. The property is positioned for buyers seeking a duplex with a defined unit mix and recently refreshed living areas.
Key Highlights
- 2,256‑square‑foot duplex built in 2004
- Unit mix includes 3 bedrooms and 2 full bathrooms plus 2 bedrooms and 1 bathroom
- Both units are currently vacant
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
$34,305
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%
$686,100
$686.1K
Cap Rate 7%
$490,071
$490.1K
Cap Rate 9%
$381,167
$381.2K
Market Conditions
NOI Build-Up for 2,256 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
$69.8K $30.96/SF
− Vacancy
−$7.5K −$3.31/SF
EGI
$62.4K $27.65/SF
− OpEx
−$28.1K −$12.44/SF
NOI
$34.3K $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%
$686,100
Cap Rate 7%
$490,071
Cap Rate 9%
$381,167
Alternative Uses
Best Use
Multifamily LT 5
$564.3K
$493.7K – $658.3K
NOI $39,498 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$490.1K
$428.8K – $571.8K
NOI $34,305 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$819.5K
$717.1K – $956.1K
NOI $57,366 @ 7.0% cap · market cap 14.34%
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
358
Businesses Nearby
Explore this area
Business Placement
Demographics for 76106, TX
36,521
Population
11,543
Households
3.2
Avg Household Size
30
Median Age
6%
College-Educated
54%
High-School Grad
14.5 sq mi
ZIP Area
2,519
Density / Sq Mi
$53,486
Median Household Income
$31,419
Median Earnings
$1,179
Median Rent
$167,600
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 - Vacant two-unit property with central air, refreshed interiors, and kitchen appliances in both living spaces.
Where is this duplex located?
The property is located at 2971 Loving Avenue Fort Worth, TX.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: 2,256‑square‑foot duplex built in 2004; Unit mix includes 3 bedrooms and 2 full bathrooms plus 2 bedrooms and 1 bathroom; Both units are currently vacant
