Modern Leased Duplex Income
For Sale
$529,000
3200 South Cherry Lane, Fort Worth, TX 76116
Built in 2017, this duplex has two leased 3-bedroom, 2-bath units with separately metered utilities.
Property Size2,188 SF
Price / SF$241.77
Days on Market172
Property Features for 3200 South Cherry Lane
General Information
Standard status
Active
Size
2,188 SF
Total Parking Spaces
6
Property subtype
Multi-Family / Full Duplex
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
Central Air, Electric
Central, Electric
Luxury Vinyl Plank
Disposal, Electric Cooktop, Electric Oven, Electric Range, Electric Water Heater, Microwave, Refrigerator
Built-in Features, Cable TV Available, Open Floorplan, Pantry, Tile Counters, Walk-In Closet(s)
No
Asphalt, Shingle
One
1
Brick/Mortar, Combination, Concrete Perimeter, Pillar/Post/Pier, Slab
Public Records
2
Brick, Concrete, Plaster, Rock/Stone, Wood
Building Details
Year Built
2017
Buildings
1
Tenancy
Multi
Listing Agency:
VisaLand Realty
(817) 296-4228
Listed By:
Gokul Humagain · License #0747511
(817) 296-4228
Source:
Compass
Added: Feb 21
Changed: Aug 8
Last Checked: Jul 23 at 3:11AM
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 VisaLand Realty
Investment Insights
Based on property information with market context.
This modern duplex was constructed in 2017 and is designed for straightforward day-to-day management. Each unit offers a spacious 3-bedroom, 2-bath floor plan totaling approximately 1,094 square feet, and both units are currently leased for $1,650 per month. The property is described as very well maintained, with long-term clients and a newly renewed lease.
The duplex is located near Joint Reserve Base and Camp Bowie, and is less than nine miles from downtown Fort Worth, according to the provided remarks. The property also has no HOA. All utilities are separately metered and paid by the residents, which supports low-friction operation.
With both sides leased and separately metered utilities in place, the configuration is set up to support rental income from two residential units under one ownership.
The duplex is located near Joint Reserve Base and Camp Bowie, and is less than nine miles from downtown Fort Worth, according to the provided remarks. The property also has no HOA. All utilities are separately metered and paid by the residents, which supports low-friction operation.
With both sides leased and separately metered utilities in place, the configuration is set up to support rental income from two residential units under one ownership.
Key Highlights
- 2017‑built duplex with 2 units; each unit offers a 3‑bedroom, 2‑bath open floorplan.
- Approx. 1,094 SF per unit (public records) with luxury vinyl plank flooring and tile counters.
- Both units are currently leased for $1,650/month with utilities separately metered.
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
$38,308
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
7.24%
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%
$766,160
$766.2K
Cap Rate 7%
$547,257
$547.3K
Cap Rate 9%
$425,644
$425.6K
Market Conditions
NOI Build-Up for 2,188 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
$60.9K $27.84/SF
− Vacancy
−$6.2K −$2.83/SF
EGI
$54.7K $25.01/SF
− OpEx
−$16.4K −$7.50/SF
NOI
$38.3K $17.51/SF
Area
Fort Worth, TX
Vacancy
10.16%
Lease Rate
$27.84 /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%
$766,160
Cap Rate 7%
$547,257
Cap Rate 9%
$425,644
Alternative Uses
Best Use
Multifamily LT 5
$547.3K
$478.9K – $638.5K
NOI $38,308 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$475.3K
$415.9K – $554.5K
NOI $33,271 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$794.8K
$695.5K – $927.3K
NOI $55,636 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
829
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Built in 2017, this duplex has two leased 3-bedroom, 2-bath units with separately metered utilities.
Where is this duplex located?
The property is located at 3200 South Cherry Lane Fort Worth, TX.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: 2017‑built duplex with 2 units; each unit offers a 3‑bedroom, 2‑bath open floorplan.; Approx. 1,094 SF per unit (public records) with luxury vinyl plank flooring and tile counters.; Both units are currently leased for $1,650/month with utilities separately metered.
