Turn-Key Duplex with Attached
3124 Cherry Lane Fort Worth, TX 76116
3124 Cherry Lane, Fort Worth, TX, 76116
$400,000
For Sale
$400,000
MULTI_FAMILY - Fort Worth, TX
Property Size2,236 SF
Lot Size0.18 Acres
Price / SF$178.89
Days on Market9
Property Features for 3124 Cherry Lane
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 6, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 4
- Parking
- 2
- Parking features
- Garage
- Patio and Porch features
- Patio
- Interior features
- GraniteCounters, OpenFloorplan
- Appliances
- Dishwasher, ElectricRange, ElectricWaterHeater, Refrigerator
- Standard status
- Active
- APN
- 41493060
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Description
- BROADMOOR ADDITION-FORT WORTH BLOCK 16 LOT 8
- Tax Annual Amount
- 7069
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Ceiling Fan(s), Electric
- Water source
- Public
Building Details
- Year built
- 2007
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Vinyl, Tile
- Building materials
- Brick
- Roof type
- Composition
Listing agency
Turn Key Real Estate Mgmt LLC
(877) 727-4767
Listed by
Scott Richardson · License #0568809
(877) 727-4767
Added: Jul 15 Updated: Jul 17 at 1:45PM Checked: Jul 23 at 5:06AM
MLS# 21329758
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 turn-key duplex was built in 2007 and offers two spacious 3-bedroom, 2-bath units. Each unit includes an attached garage and a privacy-fenced yard. The interior features updated luxury vinyl plank flooring throughout the living areas of both units, with tile in the bathrooms and kitchens.
The property is located at 3124-3126 Cherry Lane in Fort Worth, Texas (76116) in Tarrant County. Electricity and water are separately metered, with resident responsibility for utilities.
Unit details include 3124 Cherry Lane with a lease expiring in March 2027, and 3126 Cherry Lane listed as vacant for showings and currently available to lease. Notable improvements include a new roof installed in 2023.
The property is located at 3124-3126 Cherry Lane in Fort Worth, Texas (76116) in Tarrant County. Electricity and water are separately metered, with resident responsibility for utilities.
Unit details include 3124 Cherry Lane with a lease expiring in March 2027, and 3126 Cherry Lane listed as vacant for showings and currently available to lease. Notable improvements include a new roof installed in 2023.
Key Highlights
- Built in 2007 brick duplex with two 3 bed, 2 bath units and attached garages
- 2,236 total SF building with open floorplan, granite counters, and vinyl/tile flooring
- Central air with electric heating and ceiling fans; includes dishwasher, electric range, and refrigerator
Local Financial Insights For Apartment 5plus
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 | $69.2k | $30.96 |
| − Vacancy | −$7.4k | −$3.31 |
| EGI | $61.8k | $27.65 |
| − OpEx | −$27.8k | −$12.44 |
| NOI | $34.0k | $15.21 |
2,236 SF · lease $30.96/SF/yr · vacancy 10.70% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$559.3K
$489.4K – $652.5K
NOI $39,148 @ 7.0% cap · market cap 9.79%
Second Best
Apartment 5plus
$485.7K
$425.0K – $566.7K
NOI $34,001 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$812.2K
$710.7K – $947.6K
NOI $56,857 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - 2007-built duplex includes two 3 bed, 2 bath units, each with an attached garage and privacy-fenced yard.
Where is this duplex located?
The property is located at 3124 Cherry Lane Fort Worth, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Built in 2007 brick duplex with two 3 bed, 2 bath units and attached garages; 2,236 total SF building with open floorplan, granite counters, and vinyl/tile flooring; Central air with electric heating and ceiling fans; includes dishwasher, electric range, and refrigerator
