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    401 Shoreline Drive Lakewood Village, TX 75068

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    Claim this Listing
    New
    For Sale
    Under Contract
    $500,000

    Duplex - Lakewood Village, TX

    Type:Duplex
    Property size:
    2,452 SF
    Lot size:
    0.28 Acres
    Price / SF:
    $203/SF
    Added:
    Apr 30, 2026
    Days on Market:
    3
    Last Refresh:
    May 2 at 11:06 pm

    Property Features for 401 Shoreline Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    4
    Parking features
    Garage
    Patio and Porch features
    Patio, Porch
    Interior features
    Cable Tv Available, Decorative Lighting, High Speed Internet Available, Walk-in Closet(s)
    Exterior features
    Covered Patio/Porch
    Appliances
    Dishwasher, Range, Washer
    Standard status
    Active Under Contract
    APN
    R76698
    Size
    2,452 SF
    Lot size
    0.28 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Central, Electric (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Electric

    Building Details

    Year built
    1986
    Floors in Building
    2
    Flooring type
    Carpet, Tile, Tile - Ceramic, Vinyl
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    David Kraft
    David Kraft

    Listing agent David Kraft License #0490284

    Listing office RE/MAX Four Corners 7701 W Eldorado Parkway, McKinney, TX

    Listing date Apr 30, 2026

    MLS# 21238387 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Lakewood Village Duplex For Sale

    This duplex in Lakewood Village, TX, presents an opportunity for investors or owner-occupants. Each unit includes 3 bedrooms, 2 full baths, and a 2-car garage. The property has thoughtfully designed floor plans. Recent updates include a new roof, fresh interior paint, and foundation repairs completed in 2022 with the addition of 20 piers. Situated near Lake Lewisville and zoned to Little Elm ISD, the property provides access to shopping, dining, and a nearby community park. Both units feature split-bedroom layouts with generously sized secondary bedrooms. The private primary suites include walk-in closets, and covered front porches. Unit 401 currently rents for $1,550 per month and includes a new water heater, with a lease in place through 7.31.2027. Unit 405 currently rents for $1,750 per month, with a lease secured through 8.31.2026. The property size is 2452 square feet and the lot size is 0.2755 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Lakewood Village
    County
    Denton
    State
    Texas
    Longitude
    -96.9829
    Latitude
    33.1913

    FAQs

    What type of property is this?
    Duplex - Duplex with updated units, long-term leases, and convenient location.
    Where is this duplex located?
    The property is located at 401 Shoreline Drive Lakewood Village, TX.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Income‑producing duplex with leases in place, offering immediate returns (Unit 401: $1,550/month until 7.31.2027; Unit 405: $1,750/month until 8.31.2026).; Each unit boasts 3 bedrooms, 2 full baths, and a 2‑car garage.; Recent updates include a new roof, fresh interior paint, and foundation repairs with 20 piers completed in 2022.
    (972) 396-9100
    We can help!
    Listing Contact
    David Kraft
    David Kraft
    Real Estate License ID: 0490284
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    401 Shoreline Drive, Lakewood Village, TX 75068

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