Two-Unit
401-403 Cheyenne Pl, Texarkana, TX 75503
For Sale
$248,000
Residential Income, Texarkana, TX
Property Size2,176 SF
Lot Size0.20 Acres
Price / SF$113.97
Days on Market124
Property Features for 401-403 Cheyenne Pl
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Window features
Appliances
Subdivision
Directions
Standard status
Size
Lot size
Additional Details
Tenant in Place
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Better Homes & Gardens Real Estate Infinity
(903) 306-1454
Listed By:
Heather Thompson · License TX SA00057604
(903) 826-4357
Added: Jul 12
Changed: Oct 31
Last Checked: Nov 12 at 9:06AM
MLS# 204956
Copyright © 2026 Texarkana Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2005 duplex contains 2,176 square feet across two two-story residences on a 0.20-acre lot. One residence has 3 bedrooms and 1.5 bathrooms; the other has 2 bedrooms and 1.5 bathrooms. Open parking accommodates 4 vehicles. The units include dishwashers, electric ranges, and refrigerators, with central heating and air conditioning. Public water and sewer serve the property.
The property is in a cul-de-sac setting and is approximately 2 miles from Christus St. Michael Hospital and about 1 mile from grocery shopping and Target. Both residences are currently leased.
The property is in a cul-de-sac setting and is approximately 2 miles from Christus St. Michael Hospital and about 1 mile from grocery shopping and Target. Both residences are currently leased.
Key Highlights
- Two residences totaling 2,176 square feet on a 0.20‑acre lot
- One 3‑bedroom, 1.5‑bath residence and one 2‑bedroom, 1.5‑bath residence
- Both units are currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,741
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,820
$314.8K
Cap Rate 7%
$224,871
$224.9K
Cap Rate 9%
$174,900
$174.9K
Market Conditions
NOI Build-Up for 2,176 SF
Gross rent
$24.3K $11.16/SF
− Vacancy
−$1.8K −$0.83/SF
EGI
$22.5K $10.33/SF
− OpEx
−$6.7K −$3.10/SF
NOI
$15.7K $7.23/SF
Area
Bowie County, TX
Vacancy
7.40%
Lease Rate
$11.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,820
Cap Rate 7%
$224,871
Cap Rate 9%
$174,900
Alternative Uses
Best Use
Multifamily LT 5
$224.9K
$196.8K – $262.4K
NOI $15,741 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$186.0K
$162.7K – $217.0K
NOI $13,017 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$765.5K
$669.8K – $893.0K
NOI $53,582 @ 7.0% cap · market cap 21.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
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Business Placement
Demographics for 75503, TX
25,547
Population
11,464
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
95%
High-School Grad
78.5 sq mi
ZIP Area
325
Density / Sq Mi
$67,733
Median Household Income
$43,508
Median Earnings
$1,185
Median Rent
$214,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased and offer separate two-story layouts with different bedroom counts.
Where is this duplex located?
The property is located at 401-403 Cheyenne Pl Texarkana, TX.
What is the asking price?
The asking price for this property is $248,000.
What are key features of this property?
This property features: Two residences totaling 2,176 square feet on a 0.20‑acre lot; One 3‑bedroom, 1.5‑bath residence and one 2‑bedroom, 1.5‑bath residence; Both units are currently leased
