Updated Duplex with Two 3-Bedroom
New
For Sale
$390,000
3425 and 3427 Republic Drive, Forest Hill, TX 76140
Two residences offer matching three-bedroom layouts, private primary baths, laundry connections, and direct backyard access.
Property Size2,600 SF
Lot Size0.21 Acres
Price / SF$150
Days on Market2
Property Features for 3425 and 3427 Republic Drive
General Information
Standard status
Active
Size
2,600 SF
Total Parking Spaces
4
Lot size
0.21 Acres
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Furnished
No
Highway Access
Yes
Building Details
Year Built
1986
Listing Agency:
Great Real Estate, Inc.
(214) 532-4009
Listed By:
Maria Madigan · License #0592131
(682) 433-6716
Source:
Lonestarluxuryrealty
Added: Sep 13
Last Checked: Sep 14 at 6:59AM
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 Great Real Estate, Inc.
Investment Insights
Based on property information with market context.
This duplex includes approximately 2,600 SF of total living space on a 9,264 SF lot, with both 3425 and 3427 Republic Drive included in the sale. Each unit has 3 bedrooms, 2 full bathrooms, a living room, dining area adjoining the kitchen, pantry, linen storage, and full-size washer and dryer connections. Primary suites include private baths and backyard access. A concrete rear driveway provides parking for four vehicles.
The property is located in Forest Hill and falls within Everman ISD, with access to I-20 and I-35. Built in 1986, the duplex is being sold AS-IS. The right unit at 3427 Republic is vacant and available for showing; access to 3425 Republic is restricted until an accepted contract.
The property is located in Forest Hill and falls within Everman ISD, with access to I-20 and I-35. Built in 1986, the duplex is being sold AS-IS. The right unit at 3427 Republic is vacant and available for showing; access to 3425 Republic is restricted until an accepted contract.
Key Highlights
- Approximately 2,600 SF of total living space on a 9,264 SF lot
- Two units, each with 3 bedrooms and 2 full bathrooms
- Concrete back driveway with parking for four vehicles
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
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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 - Two residences offer matching three-bedroom layouts, private primary baths, laundry connections, and direct backyard access.
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 on a 9,264 SF lot; Two units, each with 3 bedrooms and 2 full bathrooms; Concrete back driveway with parking for four vehicles
