Brick Duplex with Fenced
For Sale
$389,900
Pending
424 Casie Court, Denton, TX 76207
ResidentialIncome, Denton, TX
Property Size1,996 SF
Lot Size0.08 Acres
Days on Market50
Property Features for 424 Casie Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 5
Parking
2
Parking features
Driveway
Interior features
HighSpeedInternet, OpenFloorplan, CableTv
Fireplace
1
Appliances
Dishwasher
Subdivision
Snider Add Sec 1
Elementary school
Evers Park
Middle school
Calhoun
High school
Denton
Elementary school district
Denton ISD
Middle school district
Denton ISD
High school district
Denton ISD
Directions
From I35E take the Ft Worth Drive exit, head North follow onto Carroll Blvd then Right on University, Left on Locust, Right on Windsor, Left on Beth St, Left on Casie Ct.
Standard status
Pending
APN
R195977
Size
1,996 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
SNIDER ADDN SEC 1 BLK 1 LOT 1AR
Tax Annual Amount
3439
Legal Description
SNIDER ADDN SEC 1 BLK 1 LOT 1AR
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1997
Floors in Building
1
Number of units
2
Flooring type
Carpet
Building materials
Brick
Roof type
Composition
Listing Agency:
Stag Residential
(940) 400-7824
Listed By:
Jeff Withers · License #0644917
(940) 391-2028
Added: Jul 18
Changed: Sep 4
Last Checked: Sep 5 at 8:06PM
MLS# 21316013
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.
Investment Insights
Based on property information with market context.
Built in 1997, this brick duplex contains 1,996 square feet arranged as two fully separate 998-square-foot residences. Each unit offers three bedrooms, two bathrooms, a single-car garage, and a fenced backyard. Interior details include white kitchen cabinetry, plank-style flooring in the main living areas, ceiling fans throughout, central heating and central air, and a dishwasher. One side also includes a wood-burning fireplace and a sliding door leading to a private fenced patio.
The property is located on Casie Court in north Denton, near the University of North Texas, Texas Woman’s University, and UNT Discovery Park. The lot adjoins a mature tree line and open green space. One unit is leased and producing income, while the other is vacant, creating a two-unit ownership configuration with separate living spaces and outdoor areas.
The property is located on Casie Court in north Denton, near the University of North Texas, Texas Woman’s University, and UNT Discovery Park. The lot adjoins a mature tree line and open green space. One unit is leased and producing income, while the other is vacant, creating a two-unit ownership configuration with separate living spaces and outdoor areas.
Key Highlights
- 1,996 square feet across two separate 998‑square‑foot units
- Each side includes 3 bedrooms, 2 bathrooms, and a single‑car garage
- One unit is leased and producing income; the second unit is vacant
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
Single-tenant
Tenancy
Yes
Paved road access
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 separate residences offer three-bedroom layouts, private outdoor areas, and one occupied side with the second available for use.
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: 1,996 square feet across two separate 998‑square‑foot units; Each side includes 3 bedrooms, 2 bathrooms, and a single‑car garage; One unit is leased and producing income; the second unit is vacant
