Duplex with Split-Bedroom
For Sale
$489,900
364 Armstrong Lane, Lavon, TX 75166
Two units offer open-concept living, private outdoor space, and community amenities near Lake Lavon.
Property Size2,532 SF
Price / SF$193.48
Days on Market209
Property Features for 364 Armstrong Lane
General Information
Standard status
Active
Size
2,532 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Full Duplex
Occupancy
50%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
pool
splash park
playground
lake
clubhouse
Ceiling Fan(s), Central Air, Electric
Central, Electric
No
Carpet, Ceramic Tile
Dishwasher, Disposal, Electric Oven, Electric Range, Electric Water Heater, Microwave
Decorative Lighting, High Speed Internet Available, Open Floorplan, Pantry, Walk-In Closet(s)
Composition
One
Back Yard
1
Slab
Assessor
2
Brick
Building Details
Year Built
2010
Buildings
1
Listing Agency:
Real Broker, LLC
(509) 551-4884
Listed By:
K.C. McKeown · License #0690463
(509) 551-4884
Source:
Compass
Added: Feb 5
Changed: Aug 31
Last Checked: Aug 30 at 4:02AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This full duplex contains 2,532 square feet and was built in 2010. Each unit includes 3 bedrooms, 2 full bathrooms, an open-concept living and dining arrangement, and a split-bedroom floor plan. Kitchens include a dishwasher, disposal, electric range, oven, water heater, and microwave. Additional features include walk-in closets, pantry storage, dedicated laundry areas, attached garages, private fenced backyards, and covered patios. Central air and electric service support everyday operations.
The property is currently 50% occupied, with one unit available for lease or owner occupancy. Residents have access to an HOA community pool with splash park, playground, lake, and clubhouse. The duplex is located in Lavon near Lake Lavon, with access to Wylie, Rockwall, Hwy 78, and President George Bush Turnpike.
The property is currently 50% occupied, with one unit available for lease or owner occupancy. Residents have access to an HOA community pool with splash park, playground, lake, and clubhouse. The duplex is located in Lavon near Lake Lavon, with access to Wylie, Rockwall, Hwy 78, and President George Bush Turnpike.
Key Highlights
- Full duplex totaling 2,532 square feet, built in 2010
- Each unit has 3 bedrooms and 2 full bathrooms
- Currently 50% occupied with one unit available
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
$44,521
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
9.09%
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%
$890,420
$890.4K
Cap Rate 7%
$636,014
$636.0K
Cap Rate 9%
$494,678
$494.7K
Market Conditions
NOI Build-Up for 2,532 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
$70.8K $27.96/SF
− Vacancy
−$7.2K −$2.84/SF
EGI
$63.6K $25.12/SF
− OpEx
−$19.1K −$7.54/SF
NOI
$44.5K $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%
$890,420
Cap Rate 7%
$636,014
Cap Rate 9%
$494,678
Alternative Uses
Best Use
Multifamily LT 5
$636.0K
$556.5K – $742.0K
NOI $44,521 @ 7.0% cap · market cap 9.09%
Second Best
Apartment 5plus
$550.0K
$481.3K – $641.7K
NOI $38,502 @ 7.0% cap · market cap 7.86%
Theoretical Best
Industrial
$2.52M
$2.20M – $2.94M
NOI $176,117 @ 7.0% cap · market cap 35.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
91
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 units offer open-concept living, private outdoor space, and community amenities near Lake Lavon.
Where is this duplex located?
The property is located at 364 Armstrong Lane Lavon, TX.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Full duplex totaling 2,532 square feet, built in 2010; Each unit has 3 bedrooms and 2 full bathrooms; Currently 50% occupied with one unit available
