Updated Four-Unit
New
For Sale
$775,000
5033 Winder Court, North Richland Hills, TX 76180
Four-unit property with garage parking, private driveways, select fenced yards, and multiple documented improvements.
Property Size5,828 SF
Days on Market2
Property Features for 5033 Winder Court
General Information
Standard status
Active
Size
5,828 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$14,074
Building Details
Building Size
5,828 SF
Year Built
1984
Listing Agency:
Orchard Brokerage
Listed By:
Denise Abrams · License #0613383
(844) 515-9880
Source:
Soldbywes
Added: Sep 13
Last Checked: Sep 13 at 9:20AM
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 Orchard Brokerage
Investment Insights
Based on property information with market context.
Built in 1984, this four-unit quadplex includes garage parking and an individual driveway for each unit. Interior features include fireplaces, ceiling fans, double sinks, tubs, and generous living areas. Select units also offer fully fenced backyards.
The property has received improvements at both the unit and building levels. Replacement windows were installed in January 2018, while interior work completed within the last eight years includes new kitchens, partial bathroom remodels, updated flooring, and popcorn ceiling removal. Railings were updated to meet insurance code. The roof is within its half-life and underwent major repairs after a 2022 hailstorm. The sewer line was replaced last month.
The property has received improvements at both the unit and building levels. Replacement windows were installed in January 2018, while interior work completed within the last eight years includes new kitchens, partial bathroom remodels, updated flooring, and popcorn ceiling removal. Railings were updated to meet insurance code. The roof is within its half-life and underwent major repairs after a 2022 hailstorm. The sewer line was replaced last month.
Key Highlights
- Four‑unit quadplex built in 1984
- Garage parking and an individual driveway for each unit
- Select units include fully fenced backyards
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
$43,902
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
5.66%
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%
$878,040
$878.0K
Cap Rate 7%
$627,171
$627.2K
Cap Rate 9%
$487,800
$487.8K
Market Conditions
NOI Build-Up for 5,828 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
$70.6K $12.12/SF
− Vacancy
−$7.9K −$1.36/SF
EGI
$62.7K $10.76/SF
− OpEx
−$18.8K −$3.23/SF
NOI
$43.9K $7.53/SF
Area
Tarrant 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 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%
$878,040
Cap Rate 7%
$627,171
Cap Rate 9%
$487,800
Alternative Uses
Best Use
Multifamily LT 5
$627.2K
$548.8K – $731.7K
NOI $43,902 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$545.2K
$477.1K – $636.1K
NOI $38,167 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,509 @ 7.0% cap · market cap 18.52%
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
553
Businesses Nearby
Explore this area
Business Placement
Demographics for 76180, TX
37,087
Population
16,138
Households
2.3
Avg Household Size
37
Median Age
33%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
3,988
Density / Sq Mi
$78,688
Median Household Income
$42,984
Median Earnings
$1,553
Median Rent
$286,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with garage parking, private driveways, select fenced yards, and multiple documented improvements.
Where is this quadplex located?
The property is located at 5033 Winder Court North Richland Hills, TX.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1984; Garage parking and an individual driveway for each unit; Select units include fully fenced backyards
