2019 Triplex with Three-Bed
For Sale
$550,000
412 W Franklin St, Alvord, TX 76225
Modern 2019-built triplex with three-bedroom, two-bath units, individual HVAC, and electric washer/dryer connections.
Property Size3,395 SF
Price / SF$162
Days on Market149
Property Features for 412 W Franklin St
General Information
Standard status
Active
Size
3,395 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
individual HVAC systems
electric washer and dryer connections
storage space
Building Details
Year Built
2019
Tenancy
Multi
Listing Agency:
CENTURY 21 Judge Fite Co.- Decatur
Listed By:
Thomas Gibson 8178850871 · License #0496389
(817) 885-0871
Source:
Dfwareahousehunt
Added: Jun 4
Changed: Oct 26
Last Checked: Oct 28 at 8:55AM
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 CENTURY 21 Judge Fite Co.- Decatur
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Investment Insights
Based on property information with market context.
Built in 2019, this triplex includes three residential units. Each unit is designed with three bedrooms and two full bathrooms, plus spacious living areas and separate kitchen nooks for dining. Units come equipped with electric range appliances, electric washer and dryer connections, individual HVAC systems, and additional storage space. A durable metal roof supports the property’s exterior.
Located at 412 West Franklin Street in Alvord, Texas, the property offers a newer-construction configuration for buyers seeking a residential income asset in a small-town setting with access to North Texas employment and growth corridors.
Located at 412 West Franklin Street in Alvord, Texas, the property offers a newer-construction configuration for buyers seeking a residential income asset in a small-town setting with access to North Texas employment and growth corridors.
Key Highlights
- 2019‑built triplex in Alvord, TX
- Each unit features approx. 1,224 SF with 3 bedrooms and 2 full bathrooms
- Individual HVAC systems for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,574
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$511,480
$511.5K
Cap Rate 7%
$365,343
$365.3K
Cap Rate 9%
$284,156
$284.2K
Market Conditions
NOI Build-Up for 3,395 SF
Gross rent
$41.1K $12.12/SF
− Vacancy
−$4.6K −$1.36/SF
EGI
$36.5K $10.76/SF
− OpEx
−$11.0K −$3.23/SF
NOI
$25.6K $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%
$511,480
Cap Rate 7%
$365,343
Cap Rate 9%
$284,156
Alternative Uses
Best Use
Multifamily LT 5
$365.3K
$319.7K – $426.2K
NOI $25,574 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$317.6K
$277.9K – $370.6K
NOI $22,233 @ 7.0% cap · market cap 4.04%
Theoretical Best
Hotel Hospitality
$2.56M
$2.24M – $2.98M
NOI $179,001 @ 7.0% cap · market cap 32.55%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
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Business Placement
Demographics for 76225, TX
3,789
Population
1,460
Households
2.6
Avg Household Size
39
Median Age
25%
College-Educated
93%
High-School Grad
105.4 sq mi
ZIP Area
36
Density / Sq Mi
$71,625
Median Household Income
$50,044
Median Earnings
$951
Median Rent
$281,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Modern 2019-built triplex with three-bedroom, two-bath units, individual HVAC, and electric washer/dryer connections.
Where is this triplex located?
The property is located at 412 W Franklin St Alvord, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2019‑built triplex in Alvord, TX; Each unit features approx. 1,224 SF with 3 bedrooms and 2 full bathrooms; Individual HVAC systems for each unit
