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    Modern Triplex with Individual HVAC Title is generated by Realmo AI

    412 W Franklin Street, Alvord, TX 76225

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    For Sale
    $590,000

    MULTI_FAMILY - Alvord, TX

    Property size:
    3,672 SF
    Lot size:
    0.22 Acres
    Price / SF:
    $160/SF
    Added:
    Jun 6, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 6 at 1:06 pm

    Property Features for 412 W Franklin Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    9
    Bathrooms
    6
    Rooms
    Bedroom 5, Bedroom 3, Bedroom 1, Bedroom 9, Bedroom 4, Bathroom 4, Bathroom 5, Bathroom 1, Bathroom 2, Bathroom 6, Bedroom 2, Bedroom 6, Bedroom 7, Bedroom 8, Bathroom 3
    Parking
    8
    Interior features
    HighSpeedInternet
    Appliances
    Dishwasher, ElectricRange, Disposal
    Standard status
    Active
    APN
    768308
    Lot size
    0.22 Acres

    Taxes and HOA fees

    Tax Description
    LOT PT 5 BLK 15 ORIGINAL ALVORD
    Tax Annual Amount
    7949

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    2019
    Floors in Building
    1
    Number of units
    3
    Flooring type
    Wood
    Building materials
    Brick, WoodSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Thomas Gibson

    Listing agent Thomas Gibson

    Listing office CENTURY 21 Judge Fite Co.- Decatur Dallas, TX

    Listing date Jun 6, 2026

    MLS# 21293554 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.

    HighLights

    • Triplex built in 2019 with brick and wood siding exterior and a metal roof
    • Each unit features approx. 1,224 SF with 3 bedrooms and 2 full bathrooms
    • Central electric HVAC and central air in each unit for individual tenant climate control
    • Electric range, dishwasher, and disposal included in each unit
    • Public water and public sewer service
    • High‑speed internet available; electric washer and dryer connections plus additional storage

    Overview

    Built in 2019, this triplex at 412 W Franklin Street in Alvord, Texas features three residential units in a modern construction design. Each unit is laid out with three bedrooms and two full bathrooms, along with a spacious living area and a kitchen nook for dining. Kitchens include electric range appliances, and each home offers electric washer and dryer connections to support convenient in-home laundry setups. For tenant comfort and maintenance practicality, every unit is equipped with its own HVAC system. The exterior includes a durable metal roof, and the property also provides additional storage space for residents.

    The property sits on approximately 0.223 acres in Alvord, Wise County. As a newer multifamily asset, it may appeal to buyers looking to reduce deferred-maintenance exposure typically associated with older properties.

    For tenants, the combination of individual HVAC and functional in-unit laundry connections can help support day-to-day comfort and convenience. For investors, the unit mix, appliance package, and separate systems across all three homes offer a straightforward configuration for managing residential income housing within a triplex format.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Spa & Massage Center Building Supply Auto Repair Shop Big Box & Wholesale Store Hotel & Motel Auto Parts Store Department Store Food Market Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Alvord
    County
    Wise
    State
    Texas
    Longitude
    -97.69922
    Latitude
    33.360607

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    FAQs

    What type of property is this?
    Triplex - Built in 2019, this triplex provides three bedrooms, two baths, and in-unit HVAC for tenant-controlled comfort.
    Where is this triplex located?
    The property is located at 412 W Franklin Street Alvord, TX.
    What is the asking price?
    The asking price for this property is $590,000.
    What are key features of this property?
    This property features: Triplex built in 2019 with brick and wood siding exterior and a metal roof; Each unit features approx. 1,224 SF with 3 bedrooms and 2 full bathrooms; Central electric HVAC and central air in each unit for individual tenant climate control
    (214) 920-9611
    We can help!
    Listing Contact
    Thomas Gibson
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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.

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