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    Leased Duplex in Grand Heritage Title is generated by Realmo AI

    357 And 359 Orbit Drive, Lavon, TX 75166

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    For Sale
    $479,900

    Duplex - Lavon, TX

    Type:Duplex
    Property size:
    2,536 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $189/SF
    Added:
    May 11, 2026
    Days on Market:
    2
    Last Refresh:
    May 12 at 3:06 pm

    Property Features for 357 And 359 Orbit Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    4
    Parking features
    Driveway, Garage
    Interior features
    Eat-in Kitchen, Pantry, Tile Counters
    Exterior features
    Fence
    Fencing
    Fenced
    Appliances
    Dishwasher, Range, Washer
    Standard status
    Active
    APN
    R959100B019B1
    Size
    2,536 SF
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Expense value
    1152
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Ceiling Fan(s), Electric

    Building Details

    Year built
    2013
    Floors in Building
    1
    Flooring type
    Carpet, Tile
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Erion Shehaj

    Listing agent Erion Shehaj License #0516948

    Listing office Signature Real Estate 13910 Champions Forest Dr #103, Houston, TX

    Listing date May 11, 2026

    MLS# 21266519 Listing URL

    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.

    HighLights

    • Fully leased duplex in the desirable Grand Heritage Subdivision offering immediate rental income.
    • Opportunity to occupy one unit (357 Orbit) upon lease expiration (June 30) while renting the other.
    • Each unit features 3 bedrooms, 2 full bathrooms, and 1,268 sqft of living space.
    • Desirable amenities including a tandem front‑entry garage, wood‑look tile, upgraded fixtures, and a large utility room.
    • Community amenities include a clubhouse, large pool, splash pad, fitness center, business center, jogging paths, and playgrounds.
    • Oversized fenced backyard, sprinkler system, and covered porches for each unit.

    Overview

    This is a fully leased duplex located at 357-359 Orbit Drive in Lavon, Texas. Situated in the Grand Heritage Subdivision, this one-story duplex is suitable for investment or for an owner to occupy one unit while leasing the other. The property has a history of rental occupancy. Each of the two units offers 1,268 square feet of living space and is currently leased at $1,695. Each unit features 3 bedrooms and 2 full bathrooms, with wood-look tile, upgraded fixtures, tile kitchen countertops and backsplash, a tandem front-entry garage, decorative lighting, and a separate utility room. The units also include an oversized fenced backyard, sprinkler system, and covered porches. The property is situated on a 0.123-acre lot. Residents have access to community amenities such as a clubhouse, a large community pool, a splash pad, a fitness center, a business center, jogging paths, and playgrounds. The community is located close to Lavonia Park with access to Lake Lavon. The lease for unit 357 expires on June 30.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Nail Salon Gym & Fitness Center Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lavon
    County
    Collin
    State
    Texas
    Longitude
    -96.459394
    Latitude
    33.016523

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    FAQs

    What type of property is this?
    Duplex - Fully leased duplex in Lavon's Grand Heritage Subdivision.
    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 $479,900.
    What are key features of this property?
    This property features: Fully leased duplex in the desirable Grand Heritage Subdivision offering immediate rental income.; Opportunity to occupy one unit (357 Orbit) upon lease expiration (June 30) while renting the other.; Each unit features 3 bedrooms, 2 full bathrooms, and 1,268 sqft of living space.
    (713) 952-3200
    We can help!
    Listing Contact
    Erion Shehaj
    Real Estate License ID: 0516948
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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