Duplex with Tandem Front-Entry
For Sale
$465,500
Pending
357 and 359 Orbit Drive, Lavon, TX 75166
MULTI_FAMILY - Lavon, TX
Property Size2,536 SF
Lot Size0.12 Acres
Days on Market27
Property Features for 357 and 359 Orbit Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 4, Bedroom 1
Parking
4
Parking features
Garage, Driveway
Interior features
EatInKitchen, Pantry, TileCounters
Appliances
Dishwasher, ElectricRange
Subdivision
Grand Heritage - West C
Elementary school
Nesmith
Middle school
Community Trails
High school
Community
Elementary school district
Community ISD
Middle school district
Community ISD
High school district
Community ISD
Directions
Follow State Hwy 205 NTX-205 N. Turn Left onto Endeavor Blvd. Turn Left onto Armstrong Ln. Follow Armstrong Ln and it becomes Orbit Dr. Duplex will be on the Left side.
Standard status
Pending
APN
R959100B019B1
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
GRAND HERITAGE - WEST C (CLA), BLK B, LOTS 19A 19B
Tax Annual Amount
4504
HOA Fee
$1,152 Annually
Legal Description
GRAND HERITAGE - WEST C (CLA), BLK B, LOTS 19A 19B
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Ceiling Fan(s), Electric
Water source
Public
Amenities
clubhouse
large community pool
splash pad
fitness center
business center
jogging paths
playgrounds
oversized fenced backyard
covered porches
decorative lighting
separate utility room
Building Details
Year built
2013
Floors in Building
1
Number of units
2
Flooring type
Tile, Carpet
Building materials
Brick
Roof type
Shingle
Listing Agency:
Signature Real Estate
(713) 952-3200
Listed By:
Erion Shehaj · License #0516948
(713) 952-3200
Added: Jul 17
Changed: Aug 4
Last Checked: Aug 12 at 9:06AM
MLS# 21266519
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 offers two separate units in a brick structure built in 2013. Each unit features a spacious floor plan with 3 bedrooms and 2 full bathrooms, including wood-look tile flooring, upgraded fixtures, and a kitchen with tile countertops and backsplash. Interior amenities include an eat-in kitchen, pantry, and a separate utility room large enough for a full-size washer and dryer. Exterior and practical features include a tandem front-entry garage, decorative lighting, sprinkler system, and covered porches.
The oversized fenced backyard is shared in concept across the units and supports outdoor use. Public utilities include public water and public sewer, with electric heating and electric cooling. The home has a shingle roof and parking via garage and driveway.
Unit 357’s lease expires on June 30, and the property is noted as 50% leased, with both units supported by a rental occupancy history. The community amenities include a clubhouse, large community pool, splash pad, fitness center, business center, jogging paths, and playgrounds, with community access near Lavon-related recreation through Lake Lavon.
Each unit provides an estimated 1,268 square feet of living space, supporting flexible living arrangements where one side can be owner-occupied while the other is rented.
The oversized fenced backyard is shared in concept across the units and supports outdoor use. Public utilities include public water and public sewer, with electric heating and electric cooling. The home has a shingle roof and parking via garage and driveway.
Unit 357’s lease expires on June 30, and the property is noted as 50% leased, with both units supported by a rental occupancy history. The community amenities include a clubhouse, large community pool, splash pad, fitness center, business center, jogging paths, and playgrounds, with community access near Lavon-related recreation through Lake Lavon.
Each unit provides an estimated 1,268 square feet of living space, supporting flexible living arrangements where one side can be owner-occupied while the other is rented.
Key Highlights
- Two‑unit duplex built in 2013 with brick construction
- Each unit offers 3 bedrooms and 2 full bathrooms plus separate utility room
- Unit 357 lease expires on June 30; property is noted as 50% 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
$38,562
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
8.28%
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%
$771,240
$771.2K
Cap Rate 7%
$550,886
$550.9K
Cap Rate 9%
$428,467
$428.5K
Market Conditions
NOI Build-Up for 2,536 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
$78.5K $30.96/SF
− Vacancy
−$8.4K −$3.31/SF
EGI
$70.1K $27.65/SF
− OpEx
−$31.6K −$12.44/SF
NOI
$38.6K $15.21/SF
Area
Collin County, 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 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%
$771,240
Cap Rate 7%
$550,886
Cap Rate 9%
$428,467
Alternative Uses
Best Use
Multifamily LT 5
$637.0K
$557.4K – $743.2K
NOI $44,592 @ 7.0% cap · market cap 9.58%
Second Best
Apartment 5plus
$550.9K
$482.0K – $642.7K
NOI $38,562 @ 7.0% cap · market cap 8.28%
Theoretical Best
Industrial
$2.52M
$2.20M – $2.94M
NOI $176,395 @ 7.0% cap · market cap 37.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
50%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two units, each with 3 bedrooms and 2 full bathrooms, oversized fenced backyard, and a unit lease expiring June 30.
Where is this duplex located?
The property is located at 357 and 359 Orbit Drive Lavon, TX.
What is the asking price?
The asking price for this property is $465,500.
What are key features of this property?
This property features: Two‑unit duplex built in 2013 with brick construction; Each unit offers 3 bedrooms and 2 full bathrooms plus separate utility room; Unit 357 lease expires on June 30; property is noted as 50% leased
