Furnished Updated
New
For Sale
$530,000
3217 Greene Ave, Fort Worth, TX 76109
Vacant two-residence property with furnishings, refreshed systems, shared outdoor space, and convenient access to Fort Worth destinations.
Property Size1,674 SF
Price / SF$316.61
Days on Market5
Property Features for 3217 Greene Ave
General Information
Standard status
Active
Size
1,674 SF
Property subtype
Multi-Family
Additional Details
Furnished
Yes
Multifamily Units
2
Amenities
fireplace
shared backyard
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Berkshire HathawayHS PenFed TX
Listed By:
Russell Rhodes · License #0484034
(972) 996-2503
Source:
Realtexasrealty
Added: Sep 6
Last Checked: Sep 9 at 11:35PM
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 Berkshire HathawayHS PenFed TX
Investment Insights
Based on property information with market context.
This two-unit residential property combines 1,674 square feet with a furnished, vacant setup ready for a new leasing plan. The interiors feature wood flooring, crown molding, bright kitchens, and a fireplace in the primary living area. Each residence includes a refrigerator, washer, and dryer, while the shared backyard provides outdoor space and Unit 3219 has dedicated driveway parking.
Recent work includes replacement of the electrical panel, water heaters, and HVAC systems, along with PVC plumbing updates. The property is located near TCU, Colonial Country Club, the Fort Worth Zoo, downtown Fort Worth, and nearby dining and entertainment options.
Recent work includes replacement of the electrical panel, water heaters, and HVAC systems, along with PVC plumbing updates. The property is located near TCU, Colonial Country Club, the Fort Worth Zoo, downtown Fort Worth, and nearby dining and entertainment options.
Key Highlights
- Full duplex with two complete residences under one roof
- 1,674 square feet; furnished and entirely vacant
- Wood flooring, crown molding, and a fireplace
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
$29,308
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
5.53%
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%
$586,160
$586.2K
Cap Rate 7%
$418,686
$418.7K
Cap Rate 9%
$325,644
$325.6K
Market Conditions
NOI Build-Up for 1,674 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
$46.6K $27.84/SF
− Vacancy
−$4.7K −$2.83/SF
EGI
$41.9K $25.01/SF
− OpEx
−$12.6K −$7.50/SF
NOI
$29.3K $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%
$586,160
Cap Rate 7%
$418,686
Cap Rate 9%
$325,644
Alternative Uses
Best Use
Multifamily LT 5
$418.7K
$366.4K – $488.5K
NOI $29,308 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$363.6K
$318.2K – $424.3K
NOI $25,455 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$608.1K
$532.1K – $709.4K
NOI $42,566 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
926
Businesses Nearby
Explore this area
Business Placement
Demographics for 76109, TX
25,373
Population
11,573
Households
2.2
Avg Household Size
33
Median Age
72%
College-Educated
98%
High-School Grad
8.2 sq mi
ZIP Area
3,094
Density / Sq Mi
$104,301
Median Household Income
$55,265
Median Earnings
$1,700
Median Rent
$599,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-residence property with furnishings, refreshed systems, shared outdoor space, and convenient access to Fort Worth destinations.
Where is this duplex located?
The property is located at 3217 Greene Ave Fort Worth, TX.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Full duplex with two complete residences under one roof; 1,674 square feet; furnished and entirely vacant; Wood flooring, crown molding, and a fireplace
