Brick Duplex with Two Separate
For Sale
$389,900
Pending
424 Casie Court, Denton, TX 76207
Two fully separate 3-bedroom, 2-bath duplex units with fenced backyards and single-car garages.
Property Size1,996 SF
Days on Market48
Property Features for 424 Casie Court
General Information
Standard status
Pending
Size
1,996 SF
Total Parking Spaces
2
Property subtype
Duplex
Occupancy
50%
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Amenities
white kitchen cabinetry
plank-style flooring
ceiling fans
wood-burning fireplace
sliding glass door
private fenced patio area
Building Details
Year Built
1997
Tenancy
Multi
Listing Agency:
Stag Residential
(940) 400-7824
Listed By:
Jeff Withers · License #0644917
(940) 391-2028
Source:
Lonestarluxuryrealty
Added: Jul 20
Changed: Aug 8
Last Checked: Jul 24 at 1:10PM
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 Stag Residential
Investment Insights
Based on property information with market context.
A brick duplex offering two fully separate 3-bedroom, 2-bath units under one roof. Each side provides about 998 square feet, a single-car garage, and a private fenced backyard for separation between tenants or households. Interiors include white kitchen cabinetry and plank-style flooring through the main living areas, with ceiling fans in every room. One unit features a wood-burning fireplace as a living room focal point and a sliding glass door to a private, fenced patio area.
Set on a quiet cul-de-sac on Denton’s north side, the property is minutes from UNT, TWU, and UNT Discovery Park. The lot backs to a mature tree line and open green space, creating a privacy buffer unusual for in-town addresses.
One side is currently leased and producing income, while the other sits vacant and ready for a new owner. This setup may suit an owner-occupant who wants to live in one unit while the other helps cover the mortgage, or an investor looking to add both doors to a portfolio at the same time.
Set on a quiet cul-de-sac on Denton’s north side, the property is minutes from UNT, TWU, and UNT Discovery Park. The lot backs to a mature tree line and open green space, creating a privacy buffer unusual for in-town addresses.
One side is currently leased and producing income, while the other sits vacant and ready for a new owner. This setup may suit an owner-occupant who wants to live in one unit while the other helps cover the mortgage, or an investor looking to add both doors to a portfolio at the same time.
Key Highlights
- Brick duplex built in 1997 with two fully separate 3‑bedroom, 2‑bath units under one roof
- Each unit offers 998 SF, plus a single‑car garage and its own fenced backyard for separation between tenants
- One side is currently leased and producing income; the other unit is vacant and ready for a new owner
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
$34,619
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
8.88%
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%
$692,380
$692.4K
Cap Rate 7%
$494,557
$494.6K
Cap Rate 9%
$384,656
$384.7K
Market Conditions
NOI Build-Up for 1,996 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
$55.6K $27.84/SF
− Vacancy
−$6.1K −$3.06/SF
EGI
$49.5K $24.78/SF
− OpEx
−$14.8K −$7.43/SF
NOI
$34.6K $17.34/SF
Area
Denton, TX
Vacancy
11.00%
Lease Rate
$27.84 /SF/Yr
Expense Ratio
30.00%
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%
$692,380
Cap Rate 7%
$494,557
Cap Rate 9%
$384,656
Alternative Uses
Best Use
Multifamily LT 5
$494.6K
$432.7K – $577.0K
NOI $34,619 @ 7.0% cap · market cap 8.88%
Second Best
Apartment 5plus
$433.6K
$379.4K – $505.9K
NOI $30,351 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$623.6K
$545.7K – $727.6K
NOI $43,653 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
Explore this area
Business Placement
Demographics for 76207, TX
16,097
Population
7,657
Households
2.1
Avg Household Size
41
Median Age
45%
College-Educated
93%
High-School Grad
40.3 sq mi
ZIP Area
399
Density / Sq Mi
$91,026
Median Household Income
$41,830
Median Earnings
$1,654
Median Rent
$361,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two fully separate 3-bedroom, 2-bath duplex units with fenced backyards and single-car garages.
Where is this duplex located?
The property is located at 424 Casie Court Denton, TX.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Brick duplex built in 1997 with two fully separate 3‑bedroom, 2‑bath units under one roof; Each unit offers 998 SF, plus a single‑car garage and its own fenced backyard for separation between tenants; One side is currently leased and producing income; the other unit is vacant and ready for a new owner
