Live-Work Property on
New
For Sale
$375,000
4170 S Fm 51, Decatur, TX 76234
A three-bedroom, two-bath residence offers a layout described as adaptable for a home-based business.
Property Size2,010 SF
Lot Size1.49 Acres
Price / SF$186.57
Days on Market1
Property Features for 4170 S Fm 51
General Information
Standard status
Active
Size
2,010 SF
Lot size
1.49 Acres
Building Details
Year Built
1980
Listing Agency:
Earthport Properties Realty, LLC
Listed By:
Heather Baker · License #0736337
(817) 829-2356
Source:
Heritance
Added: Sep 26
Last Checked: Sep 26 at 2:22PM
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 Earthport Properties Realty, LLC
Investment Insights
Based on property information with market context.
This 2,010-square-foot live-work property sits on 1.49 acres and was built in 1980. The three-bedroom, two-bath home has fresh paint, new flooring, updated kitchen countertops, a living room with a fireplace, and wood ceiling beams. It has been used as a residence, with potential for conversion to business use or operation of a home-based business.
The property fronts FM 51 outside Decatur city limits, with other businesses along this stretch of the road. Decatur is described as a short drive away.
The property fronts FM 51 outside Decatur city limits, with other businesses along this stretch of the road. Decatur is described as a short drive away.
Key Highlights
- 1.49‑acre live‑work property with a 2,010‑square‑foot building
- Three bedrooms and two bathrooms
- Fresh paint, new flooring, and updated kitchen countertops
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,621
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$672,420
$672.4K
Cap Rate 7%
$480,300
$480.3K
Cap Rate 9%
$373,567
$373.6K
Market Conditions
NOI Build-Up for 2,010 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.7K $30.72/SF
− Vacancy
−$16.9K −$8.42/SF
EGI
$44.8K $22.30/SF
− OpEx
−$11.2K −$5.58/SF
NOI
$33.6K $16.73/SF
Area
Wise County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$672,420
Cap Rate 7%
$480,300
Cap Rate 9%
$373,567
Alternative Uses
Best Use
Office B
$480.3K
$420.3K – $560.4K
NOI $33,621 @ 7.0% cap · market cap 8.97%
Second Best
Mixed Use
$290.7K
$254.4K – $339.2K
NOI $20,351 @ 7.0% cap · market cap 5.43%
Theoretical Best
Hotel Hospitality
$1.51M
$1.32M – $1.77M
NOI $105,977 @ 7.0% cap · market cap 28.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Live-work space - A three-bedroom, two-bath residence offers a layout described as adaptable for a home-based business.
Where is this live-work space located?
The property is located at 4170 S Fm 51 Decatur, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1.49‑acre live‑work property with a 2,010‑square‑foot building; Three bedrooms and two bathrooms; Fresh paint, new flooring, and updated kitchen countertops
