Vacant Two-Unit
For Sale
$298,000
307 Depot Street, Whitesboro, TX 76273
ResidentialIncome, Whitesboro, TX
Property Size1,986 SF
Lot Size0.29 Acres
Price / SF$150.05
Days on Market59
Property Features for 307 Depot Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 2
Parking
8
Parking features
Driveway
Interior features
Pantry, NaturalWoodwork
Exterior features
PrivateYard, RainGutters, Storage
Fencing
Fenced
Appliances
Dishwasher, ElectricOven, Disposal
Subdivision
Mcfalls Add
Lot features
Back Yard, Lawn, Many Trees
Elementary school
Whitesboro
Middle school
Whitesboro
High school
Whitesboro
Elementary school district
Whitesboro ISD
Middle school district
Whitesboro ISD
High school district
Whitesboro ISD
Directions
From the US-82 and US-377 interchange on the north edge of Whitesboro, head south on US-377 (Union Ave) turn left (E Main St, go two blocks to E St, turn right (south) on E St and cross the railroad tracks, then turn left (east) on Depot St. 305 and 307 Depot are on the right.
Standard status
Active
APN
170251
Lot size
0.29 Acres
Taxes and HOA fees
Tax Description
MCFALLS ADDN, BLOCK 13, LOT PT 1,2,3, & PT OF
Tax Annual Amount
4400
Legal Description
MCFALLS ADDN, BLOCK 13, LOT PT 1,2,3, & PT OF
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2000
Floors in Building
1
Number of units
2
Flooring type
Tile, Wood
Building materials
Brick
Roof type
Shingle, Composition
Additional Structures
Storage
Listing Agency:
Deal Smith Realty LLC
Listed By:
Derek Smith
(512) 784-1945
Added: Jul 17
Changed: Sep 12
Last Checked: Sep 13 at 11:06PM
MLS# 21300313
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit duplex at 305 and 307 Depot Street offers separate entrances, full kitchens, and individual living areas. The 307 side contains three bedrooms and one full bathroom, while the 305 side includes two bedrooms and one full bathroom. Both units are vacant. The property was built in 2000 on a 0.29-acre lot and features brick construction, tile and wood flooring, central heating and cooling, a dishwasher, electric oven, disposal, pantry, natural woodwork, storage, rain gutters, a fenced yard, and driveway parking. Public sewer serves the property.
The duplex sits one block from Main Street in downtown Whitesboro, with local shops and cafés within walking distance. US-82 and US-377 are nearby, and the property is located in Grayson County within ZIP code 76273.
The duplex sits one block from Main Street in downtown Whitesboro, with local shops and cafés within walking distance. US-82 and US-377 are nearby, and the property is located in Grayson County within ZIP code 76273.
Key Highlights
- Two‑unit duplex with addresses at 305 and 307 Depot Street
- 307 side has 3 bedrooms and 1 bath; 305 side has 2 bedrooms and 1 bath
- Built in 2000 on a 0.29‑acre lot
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
$15,224
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
5.11%
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%
$304,480
$304.5K
Cap Rate 7%
$217,486
$217.5K
Cap Rate 9%
$169,156
$169.2K
Market Conditions
NOI Build-Up for 1,986 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
$24.5K $12.36/SF
− Vacancy
−$2.8K −$1.41/SF
EGI
$21.7K $10.95/SF
− OpEx
−$6.5K −$3.29/SF
NOI
$15.2K $7.67/SF
Area
Grayson County, TX
Vacancy
11.40%
Lease Rate
$12.36 /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%
$304,480
Cap Rate 7%
$217,486
Cap Rate 9%
$169,156
Alternative Uses
Best Use
Multifamily LT 5
$217.5K
$190.3K – $253.7K
NOI $15,224 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$192.8K
$168.7K – $224.9K
NOI $13,496 @ 7.0% cap · market cap 4.53%
Theoretical Best
Hotel Hospitality
$1.02M
$891.5K – $1.19M
NOI $71,317 @ 7.0% cap · market cap 23.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Explore this area
Business Placement
Demographics for 76273, TX
9,857
Population
4,182
Households
2.4
Avg Household Size
43
Median Age
20%
College-Educated
92%
High-School Grad
206.9 sq mi
ZIP Area
48
Density / Sq Mi
$80,244
Median Household Income
$41,441
Median Earnings
$1,171
Median Rent
$234,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Brick construction with separate entrances, kitchens, and living areas on each side.
Where is this duplex located?
The property is located at 307 Depot Street Whitesboro, TX.
What is the asking price?
The asking price for this property is $298,000.
What are key features of this property?
This property features: Two‑unit duplex with addresses at 305 and 307 Depot Street; 307 side has 3 bedrooms and 1 bath; 305 side has 2 bedrooms and 1 bath; Built in 2000 on a 0.29‑acre lot
