One-Story Duplex with Tandem
For Sale
$479,900
359 Orbit Drive, Lavon, TX 75166
Fully leased two-unit property with updated interiors, fenced yards, and access to extensive community amenities.
Property Size2,536 SF
Price / SF$189.24
Days on Market113
Property Features for 359 Orbit Drive
General Information
Standard status
Active
Size
2,536 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Amenities
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
Listing Agency:
Signature Real Estate
(713) 952-3200
Listed By:
Erion Shehaj · License #0516948
(713) 952-3200
Source:
Compass
Added: May 11
Changed: Aug 30
Last Checked: Aug 30 at 11:57PM
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.
This one-story duplex contains two residences totaling 2,536 square feet, with 1,268 square feet in each unit. Both layouts include three bedrooms, two full bathrooms, wood-look tile, upgraded fixtures, tile kitchen counters and backsplash, an eat-in kitchen, pantry, and a separate utility room sized for a full-size washer and dryer. Each side also has a tandem front-entry garage, covered porch, sprinkler system, and oversized fenced backyard.
Both units are currently leased, and the lease for unit 357 ends June 30. The property is located in Grand Heritage West at 357-359 Orbit Drive in Lavon. Residents have access to a clubhouse, community pool, splash pad, fitness center, business center, jogging paths, and playgrounds. Lavonia Park and Lake Lavon are nearby.
Both units are currently leased, and the lease for unit 357 ends June 30. The property is located in Grand Heritage West at 357-359 Orbit Drive in Lavon. Residents have access to a clubhouse, community pool, splash pad, fitness center, business center, jogging paths, and playgrounds. Lavonia Park and Lake Lavon are nearby.
Key Highlights
- 2,536 SF duplex with two 1,268 SF units
- Each unit offers 3 bedrooms and 2 full bathrooms
- Both units currently leased; unit 357 lease expires June 30
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
8.04%
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 9.29%
Second Best
Apartment 5plus
$550.9K
$482.0K – $642.7K
NOI $38,562 @ 7.0% cap · market cap 8.04%
Theoretical Best
Industrial
$2.52M
$2.20M – $2.94M
NOI $176,395 @ 7.0% cap · market cap 36.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Fully leased two-unit property with updated interiors, fenced yards, and access to extensive community amenities.
Where is this duplex located?
The property is located at 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: 2,536 SF duplex with two 1,268 SF units; Each unit offers 3 bedrooms and 2 full bathrooms; Both units currently leased; unit 357 lease expires June 30
