Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Ennis Duplex: Investment Opportunity Title is generated by Realmo AI

    506 W Baylor Street, Ennis, TX 75119

    View on Map
    Claim this Listing
    New
    Pending
    $375,000

    MULTI_FAMILY - Ennis, TX

    Lot size:
    0.23 Acres
    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 12:06 pm

    Property Features for 506 W Baylor Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1
    Parking
    2
    Parking features
    Garage
    Interior features
    EatInKitchen, HighSpeedInternet, Pantry, CableTv, NaturalWoodwork
    Appliances
    Dishwasher, ElectricCooktop, ElectricOven, ElectricWaterHeater, Disposal, Microwave
    Standard status
    Pending
    APN
    158478
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Description
    LOT 3; PT 4 BLK 205 O T ENNIS .199 AC
    Tax Annual Amount
    7933

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating), Natural Gas
    Cooling system
    Central Air, Electric, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1905
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Hardwood, Tile
    Building materials
    WoodSiding
    Roof type
    Composition

    We can help!

    Listing Contact
    Lydia Metcalfe

    Listing agent Lydia Metcalfe License #0759425

    Listing office Realty Of America, LLC CYPRESS, TX

    Listing date Jun 1, 2026

    MLS# 21269662 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

    • Income‑producing duplex at 506 W Baylor Street in Ennis with two separate units
    • Downstairs unit: 1 bed, 1 bath, full kitchen, and in‑unit laundry with private entrance and private backyard
    • Upstairs unit: 2 beds plus a third‑floor bonus space, full kitchen, and in‑unit laundry with private entrance and private backyard
    • Each unit includes dedicated garage parking; wood siding exterior and composition roof
    • Leases in place through June 2026 (downstairs) and May 2027 (upstairs) with tenants paying on time
    • Utilities and services: public water and public sewer; central air and electric plus natural gas heating

    Overview

    Located in Ennis, Texas, this income-producing duplex at 506 W Baylor Street presents an investment opportunity. The property features two units, each with a private entrance, private backyard space, and dedicated garage parking. The downstairs unit includes 1 bedroom, 1 bathroom, a full kitchen, and in-unit laundry. The upstairs unit offers 2 bedrooms, a full kitchen, in-unit laundry, and a third-floor bonus space suitable for a third bedroom, office, or extra storage. The lot size is 0.234 acres. Current lease terms extend through June 2026 for the downstairs unit and May 2027 for the upstairs unit. The property is located near downtown Ennis shopping, dining, and local amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Ennis
    County
    Ellis
    State
    Texas
    Longitude
    -96.632607
    Latitude
    32.327559

    Nearby Similar for Sale

    • $375,000
      2,540 SF

      Ennis Commercial Property Near Buccees

      Commercial property with high visibility, suitable for various business uses.
      700 South Interstate Highway 45, Ennis, TX 75119
      View Details
    • $1,500,000
      9,876 SF

      Gated Retail, Office and Storage Facility

      A secure, gated property combining a large storefront, private offices, and multiple storage buildings with dedicated RV/boat space.
      4820 W State Highway 34, Ennis, TX 75119
      View Details
    • $375,000

      High-Visibility Shop Warehouse with Office

      Well-built shop warehouse with office and two bay doors, positioned for strong visibility near Buc-ee’s off I-45.
      700 S Interstate Highway 45, Ennis, TX 75119
      View Details
    • $550,000

      Turnkey Tire Shop and Service Building

      Operating automotive service business with inventory and equipment, plus customer parking and prominent street frontage.
      1601 N Kaufman Street, Ennis, TX 75119
      View Details
    • $349,900

      Flex Warehouse with Office Space

      Dock-high flex building with office and warehouse space, plus outdoor storage potential on a highly visible commercial site.
      103 Creechville Road, Ennis, TX 75119
      View Details
    • $1,800,000

      Bowling Alley and Entertainment Facility

      Multi-use entertainment building with a 23-lane bowling setup, bar, and commercial kitchen, offering flexible repurposing options.
      2303 W Ennis Avenue, Ennis, TX 75119
      View Details
    • $225,000

      Live-Work Property with Meeting Space

      A 1945 home configured for both business use and hosting, with private offices, meeting space, and a full kitchen.
      607 W Brown Street, Ennis, TX 75119
      View Details
    • $380,000

      Turnkey Food Truck Bar Venue

      A completed-in-2022 food truck bar concept with 10 truck spots, full-service bar, and weekend-ready seating.
      115 Main Street, Ennis, TX 75119
      View Details
    • $263,500

      Historic Downtown Retail and Office

      Versatile commercial space in Ennis’ Historic District, adaptable for offices, retail, or boutique concepts.
      215 Main Street SW, Ennis, TX 75119
      View Details
    • $250,000

      Turnkey Duplex Investment

      Fully occupied, recently remodeled duplex with two one-bedroom units and built-in laundry in each for stable rental income.
      205 E Bremond Street, Ennis, TX 75119
      View Details
    • $250,000

      Turnkey Duplex Income Property

      Fully occupied, recently remodeled duplex with two leased one-bedroom units built for stable, low-maintenance income.
      203 E Bremond Street, Ennis, TX 75119
      View Details
    • $1,999,995
      5,150 SF

      Spacious Mediterranean Estate on Acreage

      7-bedroom estate on 24 acres near I-45 in Ennis, TX.
      241 Gentry Road, Ennis, TX 75119
      View Details

    FAQs

    What type of property is this?
    Duplex - Income-producing duplex with long-term tenants near downtown Ennis.
    Where is this duplex located?
    The property is located at 506 W Baylor Street Ennis, 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: Income‑producing duplex at 506 W Baylor Street in Ennis with two separate units; Downstairs unit: 1 bed, 1 bath, full kitchen, and in‑unit laundry with private entrance and private backyard; Upstairs unit: 2 beds plus a third‑floor bonus space, full kitchen, and in‑unit laundry with private entrance and private backyard
    (281) 861-6199
    We can help!
    Listing Contact
    Lydia Metcalfe
    Real Estate License ID: 0759425
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    506 W Baylor Street, Ennis, TX 75119
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!