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    New Construction Duplex Income Property Title is generated by Realmo AI

    3111 Karen Street, Fort Worth, TX 76116

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    Claim this Listing
    New
    For Sale
    $660,000

    MULTI_FAMILY - Fort Worth, TX

    Property size:
    3,232 SF
    Lot size:
    0.43 Acres
    Price / SF:
    $204/SF
    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 2:06 pm

    Property Features for 3111 Karen Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Bedrooms
    6
    Bathrooms
    6
    Rooms
    Bedroom 5, Bedroom 4, Bathroom 4, Bedroom 3, Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 2, Bedroom 1, Bathroom 6, Bathroom 5
    Parking
    2
    Parking features
    Driveway
    Interior features
    DecorativeDesignerLightingFixtures, DoubleVanity, KitchenIsland, OpenFloorplan, WalkInClosets
    Appliances
    Dishwasher, Microwave
    Standard status
    Active
    APN
    43189442
    Size
    3,232 SF
    Lot size
    0.43 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2026
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    Brick
    Roof type
    Shingle

    We can help!

    Listing Contact
    Daisy Gonzalez

    Listing agent Daisy Gonzalez License #0793282

    Listing office Compass RE Texas , LLC Dallas, TX

    Listing date Jun 5, 2026

    MLS# 21291796 Listing URL

    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.

    HighLights

    • New construction duplex with two fully detached units, each designed to provide the feel of a single‑family layout
    • Each unit offers 1,616 SF with 3 bedrooms, 2.5 bathrooms, and a 2‑car garage
    • Open‑concept floor plan with modern kitchen, kitchen island, and abundant cabinetry
    • Upstairs bedroom layout includes a primary suite with private ensuite plus two secondary bedrooms sharing a full bathroom
    • Oversized lot with expansive backyard space for outdoor living
    • Central heating and central A/C; public water and public sewer; shingle roof; brick construction

    Overview

    This newly constructed duplex offers two fully detached units designed to feel like single-family homes. Each unit includes an open-concept layout with a main living area flowing into a dining area and modern kitchen. The kitchen features a large center island and abundant cabinetry, and there is a powder bath downstairs for guests. All bedrooms are located upstairs, including a spacious primary suite with a private ensuite bathroom, plus two additional bedrooms that share a full bathroom. Each unit also includes a two-car garage.

    The property is situated on an oversized lot with expansive backyard space, providing outdoor living room that is not typical for many duplex configurations. It is located in Fort Worth, with access to major highways and local amenities, and is described as approximately 15 minutes from Downtown Fort Worth.

    As a residential income property, the duplex configuration supports separate, self-contained living for occupants while maintaining the operational simplicity of a single asset. The combination of detached homes, garage parking, and three-bedroom layouts per unit should appeal to renters seeking more space and privacy, while offering an owner the ability to manage two units within one ownership structure.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $90.0k $27.84
    − Vacancy −$9.1k −$2.83
    EGI $80.8k $25.01
    − OpEx −$24.3k −$7.50
    NOI $56.6k $17.51
    3,232 SF · lease $27.84/SF/yr · vacancy 10.16% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $808.4K
    $707.3K – $943.1K (±1% cap)
    NOI $56,586 @ 7.0% cap · market cap 8.57%
    Second Best
    Apartment 5plus
    $702.1K
    $614.3K – $819.1K (±1% cap)
    NOI $49,146 @ 7.0% cap · market cap 7.45%
    Theoretical Best
    Office A
    $1.17M
    $1.03M – $1.37M (±1% cap)
    NOI $82,183 @ 7.0% cap · market cap 12.45%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Worth
    County
    Tarrant
    State
    Texas
    Longitude
    -97.45174
    Latitude
    32.727681

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    FAQs

    What type of property is this?
    Duplex - Two fully detached units each with three bedrooms, two-and-a-half baths, and a two-car garage.
    Where is this duplex located?
    The property is located at 3111 Karen Street Fort Worth, TX.
    What is the asking price?
    The asking price for this property is $660,000.
    What are key features of this property?
    This property features: New construction duplex with two fully detached units, each designed to provide the feel of a single‑family layout; Each unit offers 1,616 SF with 3 bedrooms, 2.5 bathrooms, and a 2‑car garage; Open‑concept floor plan with modern kitchen, kitchen island, and abundant cabinetry
    (214) 814-8100
    We can help!
    Listing Contact
    Daisy Gonzalez
    Real Estate License ID: 0793282
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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