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Building Details

Year Built 1982

Tenancy Multi

Listing Agency: United Real Estate DFW

Listed By: Monica Anderson · License #0328380 Show Phone

Source: Thecamigroup

Added: Aug 15 Changed: Oct 7 Last Checked: Oct 7 at 5:30PM

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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 United Real Estate DFW

Investment Insights

Based on property information with market context.

This duplex at 3321 and 3323 Fallmeadow Street contains 2,096 SF across two units and was built in 1982. Both residences received fresh paint in 2025 and include a refrigerator, covered patio, large primary bedroom, walk-in closet, and ceiling fan. Recent improvements include new toilets in both units in 2024, laminate flooring in 3321 in 2024, and unit-specific HVAC and water-heater updates. Unit 3321 has a new water heater from 2024 and a new air conditioner from 2024, while 3323 received a new air conditioner in 2025. A washer and dryer are included with 3323. Both units are leased, with the property positioned across from a park.

Key Highlights

• Duplex totaling 2,096 SF at 3321 & 3323 Fallmeadow Street
• Across from a park
• Both units freshly painted in 2025

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,872

Cap Rate

8.50%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$637,440 $637.4K

Cap Rate 7%

$455,314 $455.3K

Cap Rate 9%

$354,133 $354.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,096 SF

Gross rent

$64.9K $30.96/SF

− Vacancy

−$6.9K −$3.31/SF

EGI

$57.9K $27.65/SF

− OpEx

−$26.1K −$12.44/SF

NOI

$31.9K $15.21/SF

Area

Denton, TX

Vacancy

10.70%

Lease Rate

$30.96 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$637,440

Cap Rate 7%

$455,314

Cap Rate 9%

$354,133

Alternative Uses

Best Use

Multifamily LT 5

$519.3K

$454.4K – $605.9K (±1% cap)

NOI $36,354 @ 7.0% cap · market cap 9.69%

Second Best

Apartment 5plus

$455.3K

$398.4K – $531.2K (±1% cap)

NOI $31,872 @ 7.0% cap · market cap 8.50%

Theoretical Best

Office A

$654.9K

$573.0K – $764.0K (±1% cap)

NOI $45,840 @ 7.0% cap · market cap 12.22%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Restaurant Law Firm Real Estate Agency Hair Salon Dental Office Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

145

Businesses Nearby

Explore this area Business Placement

Demographics for 76207, TX

16,097

Population

7,657

Households

2.1

Avg Household Size

41

Median Age

45%

College-Educated

93%

High-School Grad

40.3 sq mi

ZIP Area

399

Density / Sq Mi

$91,026

Median Household Income

$41,830

Median Earnings

$1,654

Median Rent

$361,400

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two leased units feature refreshed interiors, covered patios, and select recent mechanical updates.

Where is this duplex located?

The property is located at 3321 Fallmeadow Street 3321 & 3323 Denton, TX.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Duplex totaling 2,096 SF at 3321 & 3323 Fallmeadow Street; Across from a park; Both units freshly painted in 2025