New Construction
New
For Sale
$450,000
401 E Mulberry Street, Decatur, TX 76234
Each residence features three bedrooms, 2.5 bathrooms, and a two-car garage.
Property Size3,236 SF
Price / SF$139.06
Days on Market2
Property Features for 401 E Mulberry Street
General Information
Standard status
Active
Size
3,236 SF
Total Parking Spaces
4
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
2
Amenities
Eat-In Kitchen
Granite Counters
High Speed Internet Available
Open Floorplan
Vaulted Ceiling(S)
Walk-In Closet(S)
Building Details
Building Size
3,236 SF
Year Built
2026
Buildings
1
Stories
2
Units
2
Listing Agency:
Moving Texas Realty
(888) 433-9722
Listed By:
Ryan Owen
(469) 223-9024
Source:
Joeatkinsrealty
Added: Oct 31
Last Checked: Oct 31 at 3:13AM
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 Moving Texas Realty
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Investment Insights
Based on property information with market context.
This new-construction duplex comprises two residences, each with three bedrooms, 2.5 bathrooms, and a two-car garage. The 3,236-square-foot property is scheduled for completion in August 2026. Interior features include nine-foot ceilings, plank flooring on the lower level, upgraded carpet and padding upstairs, and recessed lighting.
Both kitchens have tall cabinets, stainless steel appliances, and quartz countertops. Quartz countertops are also specified for the bathrooms, along with walk-in showers and dual sinks in the primary bathrooms.
Both kitchens have tall cabinets, stainless steel appliances, and quartz countertops. Quartz countertops are also specified for the bathrooms, along with walk-in showers and dual sinks in the primary bathrooms.
Key Highlights
- Two‑unit duplex with 3,236 square feet
- Each side has 3 bedrooms, 2.5 bathrooms, and a 2‑car garage
- New construction scheduled for completion in August 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,377
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$487,540
$487.5K
Cap Rate 7%
$348,243
$348.2K
Cap Rate 9%
$270,856
$270.9K
Market Conditions
NOI Build-Up for 3,236 SF
Gross rent
$39.2K $12.12/SF
− Vacancy
−$4.4K −$1.36/SF
EGI
$34.8K $10.76/SF
− OpEx
−$10.4K −$3.23/SF
NOI
$24.4K $7.53/SF
Area
Wise County, TX
Vacancy
11.21%
Lease Rate
$12.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$487,540
Cap Rate 7%
$348,243
Cap Rate 9%
$270,856
Alternative Uses
Best Use
Multifamily LT 5
$348.2K
$304.7K – $406.3K
NOI $24,377 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$302.7K
$264.9K – $353.2K
NOI $21,192 @ 7.0% cap · market cap 4.71%
Theoretical Best
Hotel Hospitality
$2.44M
$2.13M – $2.84M
NOI $170,618 @ 7.0% cap · market cap 37.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
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Business Placement
Demographics for 76234, TX
18,755
Population
8,047
Households
2.3
Avg Household Size
40
Median Age
22%
College-Educated
89%
High-School Grad
314.0 sq mi
ZIP Area
60
Density / Sq Mi
$88,083
Median Household Income
$45,137
Median Earnings
$1,358
Median Rent
$304,300
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 - Each residence features three bedrooms, 2.5 bathrooms, and a two-car garage.
Where is this duplex located?
The property is located at 401 E Mulberry Street Decatur, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,236 square feet; Each side has 3 bedrooms, 2.5 bathrooms, and a 2‑car garage; New construction scheduled for completion in August 2026
