Updated Duplex with Six
New
For Sale
$390,000
3425 and 3427 Republic Drive, Forest Hill, TX 76140
ResidentialIncome, Forest Hill, TX
Property Size2,600 SF
Lot Size0.09 Acres
Price / SF$150
Days on Market5
Property Features for 3425 and 3427 Republic Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 4, Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 6, Bedroom 4
Parking
4
Parking features
Assigned
Interior features
HighSpeedInternet, OpenFloorplan, Pantry, CableTv, WalkInClosets
Fencing
Fenced
Fireplace
1
Appliances
ElectricRange, Microwave, Refrigerator
Subdivision
Heritage Heights Add
Elementary school
Ray
Middle school
Dan Powell,Everman
High school
Everman
Elementary school district
Everman ISD
Middle school district
Everman ISD
High school district
Everman ISD
Directions
I20 to Forest Hill Drive, right on Forest Hill to Republic, right on Republic
Standard status
Active
APN
04768132
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
HERITAGE HEIGHTS ADDITION BLK
Legal Description
HERITAGE HEIGHTS ADDITION BLK
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Ceiling Fan(s), Electric, Central Air
Water source
Public
Building Details
Year built
1986
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Brick
Roof type
Shingle
Listing Agency:
Great Real Estate, Inc.
(214) 532-4009
Listed By:
Maria Madigan · License #0592131
(214) 245-2007
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 14 at 10:06AM
MLS# 21383328
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 duplex encompasses approximately 2,600 square feet of living area across two units on a 9,264-square-foot lot. Each residence provides three bedrooms, two full bathrooms, a living room, dining space beside the kitchen, pantry storage, linen cabinetry, and washer-dryer connections. Primary suites include private bathrooms and backyard access. Interior features include tile flooring, brick construction, central electric heating and cooling, ceiling fans, and fireplaces.
The property includes both 3425 and 3427 Republic Drive in Forest Hill and offers access to I-20 and I-35. A concrete rear drive provides parking for four vehicles, while public water and sewer serve the property. Built in 1986, the duplex is fenced and is being sold as-is. The right-side unit is vacant for showings; access to the left-side unit is restricted until an accepted contract.
The property includes both 3425 and 3427 Republic Drive in Forest Hill and offers access to I-20 and I-35. A concrete rear drive provides parking for four vehicles, while public water and sewer serve the property. Built in 1986, the duplex is fenced and is being sold as-is. The right-side unit is vacant for showings; access to the left-side unit is restricted until an accepted contract.
Key Highlights
- Approximately 2,600 SF of total living space
- 9,264 SF lot, or 0.09 acres
- Two units with 3 bedrooms and 2 bathrooms each
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
$19,586
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
5.02%
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%
$391,720
$391.7K
Cap Rate 7%
$279,800
$279.8K
Cap Rate 9%
$217,622
$217.6K
Market Conditions
NOI Build-Up for 2,600 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
$31.5K $12.12/SF
− Vacancy
−$3.5K −$1.36/SF
EGI
$28.0K $10.76/SF
− OpEx
−$8.4K −$3.23/SF
NOI
$19.6K $7.53/SF
Area
Tarrant County, TX
Vacancy
11.21%
Lease Rate
$12.12 /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%
$391,720
Cap Rate 7%
$279,800
Cap Rate 9%
$217,622
Alternative Uses
Best Use
Multifamily LT 5
$279.8K
$244.8K – $326.4K
NOI $19,586 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$243.2K
$212.8K – $283.8K
NOI $17,027 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$914.6K
$800.3K – $1.07M
NOI $64,022 @ 7.0% cap · market cap 16.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Explore this area
Business Placement
Demographics for 76140, TX
32,623
Population
10,705
Households
3
Avg Household Size
32
Median Age
18%
College-Educated
79%
High-School Grad
27.3 sq mi
ZIP Area
1,195
Density / Sq Mi
$73,215
Median Household Income
$37,780
Median Earnings
$1,590
Median Rent
$207,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer private baths, kitchen-adjacent dining areas, and washer-dryer connections.
Where is this duplex located?
The property is located at 3425 and 3427 Republic Drive Forest Hill, TX.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Approximately 2,600 SF of total living space; 9,264 SF lot, or 0.09 acres; Two units with 3 bedrooms and 2 bathrooms each
