Building Details

Year Built 2025

Buildings 1

Listing Agency: TX Lake & Land Real Estate Show Phone

Listed By: Fritz Realty Group Show Phone

Source: Fritzrealtygroup

Added: Jul 13 Changed: Oct 13 Last Checked: Oct 12 at 6:53PM

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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 TX Lake & Land Real Estate

Investment Insights

Based on property information with market context.

Completed in 2025, this duplex contains two fully tenant-occupied residences, each measuring 1,655 SF. Both units feature an open kitchen, granite countertops, custom tile backsplash, abundant natural light, interior storage, and a walk-in laundry room with custom cabinetry. The bedrooms are positioned upstairs and include walk-in closets, additional storage closets, and two full bathrooms with tiled showers. Each residence also has a downstairs half bath.

Exterior improvements include a privacy-fenced backyard and a broad concrete driveway divided for separate unit parking. The property is located at 406 E Bonham Street in Tom Bean, within walking distance of a community playground park and the elementary school with parent assistance. Executed tenant leases are in place for both units and must be honored upon sale. Showings require advance coordination and approval from each tenant.

Key Highlights

• Two‑unit duplex completed in 2025
• Each residence measures 1,655 SF and includes 3 bedrooms and 2.5 bathrooms
• Both units are fully tenant occupied with executed leases in place

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,381

Cap Rate

5.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$507,620 $507.6K

Cap Rate 7%

$362,586 $362.6K

Cap Rate 9%

$282,011 $282.0K

Market Conditions

NOI Build-Up for 3,311 SF

Gross rent

$40.9K $12.36/SF

− Vacancy

−$4.7K −$1.41/SF

EGI

$36.3K $10.95/SF

− OpEx

−$10.9K −$3.29/SF

NOI

$25.4K $7.67/SF

Area

Grayson County, TX

Vacancy

11.40%

Lease Rate

$12.36 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$507,620

Cap Rate 7%

$362,586

Cap Rate 9%

$282,011

Alternative Uses

Best Use

Multifamily LT 5

$362.6K

$317.3K – $423.0K (±1% cap)

NOI $25,381 @ 7.0% cap · market cap 5.18%

Second Best

Apartment 5plus

$321.4K

$281.2K – $375.0K (±1% cap)

NOI $22,499 @ 7.0% cap · market cap 4.59%

Theoretical Best

Hotel Hospitality

$1.70M

$1.49M – $1.98M (±1% cap)

NOI $118,898 @ 7.0% cap · market cap 24.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Building Supply Plumbing Service Auto Repair Shop Storage Facility Bakery Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

73

Businesses Nearby

Explore this area Business Placement

Demographics for 75491, TX

5,148

Population

2,353

Households

2.2

Avg Household Size

43

Median Age

26%

College-Educated

91%

High-School Grad

98.6 sq mi

ZIP Area

52

Density / Sq Mi

$71,774

Median Household Income

$48,813

Median Earnings

$881

Median Rent

$239,700

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Two fully leased units offer spacious interiors, private outdoor areas, and dedicated parking.

Where is this duplex located?

The property is located at 406 E Bonham Street Tom Bean, TX.

What is the asking price?

The asking price for this property is $490,000.

What are key features of this property?

This property features: Two‑unit duplex completed in 2025; Each residence measures 1,655 SF and includes 3 bedrooms and 2.5 bathrooms; Both units are fully tenant occupied with executed leases in place