Leased Duplex with Fenced
For Sale
$459,000
357-359 Orbit Drive, Lavon, TX 75166
Two three-bedroom residences offer private utility rooms, tandem garages, covered porches, and access to community recreation amenities.
Property Size1,268 SF
Price / SF$361.99
Days on Market152
Property Features for 357-359 Orbit Drive
General Information
Standard status
Active
Size
1,268 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,695
Amenities
decorative lighting
private utility room
covered porches
oversized fenced backyard
clubhouse
pool
splash park
fitness center
business center
jogging paths
playgrounds
Ceiling Fan(s), Electric
Electric
Carpet, Tile
Dishwasher, Electric Range
Eat-in Kitchen, Pantry, Tile Counters
No
Shingle
One
Back Yard, Wood
1
Slab
Public Records
2
Brick, Siding
Building Details
Year Built
2013
Buildings
1
Tenancy
Multi
Listing Agency:
Signature Real Estate
(713) 952-3200
Listed By:
Erion Shehaj · License #0516948
(713) 952-3200
Source:
Compass
Added: Apr 1
Changed: Aug 29
Last Checked: Aug 29 at 7:26PM
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 Signature Real Estate
Investment Insights
Based on property information with market context.
Built in 2013, this duplex contains two leased residences, each with 1,268 square feet, three bedrooms, and two full bathrooms. Both homes include an eat-in kitchen with pantry and tile counters, electric appliances, carpet and tile flooring, decorative lighting, ceiling fans, and a private utility room sized for a full-size washer and dryer. Each unit also has a tandem front-entry garage, covered porch, sprinkler system, and an oversized fenced backyard.
The property is located in Grand Heritage Subdivision at 357-359 Orbit Drive in Lavon, Texas. Residents have access to a clubhouse, swimming pool, splash park, fitness center, business center, jogging paths, and playgrounds. Current leasing applies to both units.
The property is located in Grand Heritage Subdivision at 357-359 Orbit Drive in Lavon, Texas. Residents have access to a clubhouse, swimming pool, splash park, fitness center, business center, jogging paths, and playgrounds. Current leasing applies to both units.
Key Highlights
- Two‑unit duplex with each residence measuring 1,268 sqft
- Each unit includes 3 bedrooms and 2 full bathrooms
- Both residences are currently leased
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
$22,296
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
4.86%
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%
$445,920
$445.9K
Cap Rate 7%
$318,514
$318.5K
Cap Rate 9%
$247,733
$247.7K
Market Conditions
NOI Build-Up for 1,268 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
$35.5K $27.96/SF
− Vacancy
−$3.6K −$2.84/SF
EGI
$31.9K $25.12/SF
− OpEx
−$9.6K −$7.54/SF
NOI
$22.3K $17.58/SF
Area
Collin County, TX
Vacancy
10.16%
Lease Rate
$27.96 /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%
$445,920
Cap Rate 7%
$318,514
Cap Rate 9%
$247,733
Alternative Uses
Best Use
Multifamily LT 5
$318.5K
$278.7K – $371.6K
NOI $22,296 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$275.4K
$241.0K – $321.4K
NOI $19,281 @ 7.0% cap · market cap 4.20%
Theoretical Best
Industrial
$1.26M
$1.10M – $1.47M
NOI $88,197 @ 7.0% cap · market cap 19.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Explore this area
Business Placement
Demographics for 75166, TX
5,457
Population
2,186
Households
2.5
Avg Household Size
35
Median Age
36%
College-Educated
96%
High-School Grad
12.9 sq mi
ZIP Area
423
Density / Sq Mi
$129,130
Median Household Income
$60,916
Median Earnings
$1,780
Median Rent
$385,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences offer private utility rooms, tandem garages, covered porches, and access to community recreation amenities.
Where is this duplex located?
The property is located at 357-359 Orbit Drive Lavon, TX.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Two‑unit duplex with each residence measuring 1,268 sqft; Each unit includes 3 bedrooms and 2 full bathrooms; Both residences are currently leased
