Fully Updated Duplex Income
For Sale
$345,000
4000 Fair Park Boulevard, Fort Worth, TX 76115
Turnkey duplex with two 2-bedroom, 1-bath units, including modern updates and one unit leased through August 2026.
Property Size1,372 SF
Price / SF$251.46
Days on Market128
Property Features for 4000 Fair Park Boulevard
General Information
Standard status
Active
Size
1,372 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Amenities
Ceiling Fan(s), Central Air, Electric, ENERGY STAR Qualified Equipment, Heat Pump
Central, Electric, ENERGY STAR Qualified Equipment, Heat Pump
No
Vinyl
Dishwasher, Disposal, Dryer, Electric Oven, Electric Range, Electric Water Heater, Ice Maker, Microwave, Plumbed For Gas in Kitchen, Refrigerator, Washer
Cable TV Available, Eat-in Kitchen, Flat Screen Wiring, Open Floorplan, Pantry
Yes
Composition, Shingle
One
Back Yard, Fenced
1
Slab
Public Records
2
Brick
Building Details
Year Built
1984
Year Renovated
2025
Buildings
1
Listing Agency:
Country 'N' City Realty, LLC
(469) 560-5705
Listed By:
Erin Brakke · License #0735096
(469) 560-5705
Source:
Compass
Added: Apr 7
Changed: Aug 8
Last Checked: Jul 23 at 12:58AM
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 Country 'N' City Realty, LLC
Investment Insights
Based on property information with market context.
This fully updated duplex offers two separate 2-bedroom, 1-bath income units in a well-maintained layout. The property has undergone renovations completed in 2024–2025, including updated plumbing, lighting, cabinets and hardware, fixtures, quartz countertops, and brand-new tubs. Improvements also include new windows, HVAC systems, water heaters, thermostats, and electrical outlets, along with stylish flooring throughout with no carpet.
Recent exterior updates include a new roof with 50-year architectural shingles, fresh sod, and new fencing. Both sides include a refrigerator, washer, and dryer, with stainless steel appliances installed in 2025.
One unit is currently leased through August 2026, while the other unit is vacant and ready for a new tenant or owner-occupant. The property backs up to open fields in a quiet neighborhood and is located minutes from La Gran Plaza de Fort Worth, with schools and parks within walking distance.
Recent exterior updates include a new roof with 50-year architectural shingles, fresh sod, and new fencing. Both sides include a refrigerator, washer, and dryer, with stainless steel appliances installed in 2025.
One unit is currently leased through August 2026, while the other unit is vacant and ready for a new tenant or owner-occupant. The property backs up to open fields in a quiet neighborhood and is located minutes from La Gran Plaza de Fort Worth, with schools and parks within walking distance.
Key Highlights
- Duplex with 2 total units: two 2‑bedroom, 1‑bath income units totaling nearly 1,400 sq. ft.
- One unit is leased through August 2026; the other side is vacant and ready for a new tenant or owner‑occupant.
- Renovations completed in 2024–2025 with updated plumbing, lighting, cabinets/hardware/fixtures, quartz countertops, and brand‑new tubs.
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
$24,021
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
6.96%
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%
$480,420
$480.4K
Cap Rate 7%
$343,157
$343.2K
Cap Rate 9%
$266,900
$266.9K
Market Conditions
NOI Build-Up for 1,372 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
$38.2K $27.84/SF
− Vacancy
−$3.9K −$2.83/SF
EGI
$34.3K $25.01/SF
− OpEx
−$10.3K −$7.50/SF
NOI
$24.0K $17.51/SF
Area
Fort Worth, TX
Vacancy
10.16%
Lease Rate
$27.84 /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%
$480,420
Cap Rate 7%
$343,157
Cap Rate 9%
$266,900
Alternative Uses
Best Use
Multifamily LT 5
$343.2K
$300.3K – $400.4K
NOI $24,021 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$298.0K
$260.8K – $347.7K
NOI $20,863 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$498.4K
$436.1K – $581.5K
NOI $34,887 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
840
Businesses Nearby
Explore this area
Business Placement
Demographics for 76115, TX
20,956
Population
6,706
Households
3.1
Avg Household Size
29
Median Age
17%
College-Educated
53%
High-School Grad
4.6 sq mi
ZIP Area
4,556
Density / Sq Mi
$51,823
Median Household Income
$29,868
Median Earnings
$1,177
Median Rent
$132,100
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 - Turnkey duplex with two 2-bedroom, 1-bath units, including modern updates and one unit leased through August 2026.
Where is this duplex located?
The property is located at 4000 Fair Park Boulevard Fort Worth, TX.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Duplex with 2 total units: two 2‑bedroom, 1‑bath income units totaling nearly 1,400 sq. ft.; One unit is leased through August 2026; the other side is vacant and ready for a new tenant or owner‑occupant.; Renovations completed in 2024–2025 with updated plumbing, lighting, cabinets/hardware/fixtures, quartz countertops, and brand‑new tubs.
