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

    506 West Baylor Street, Ennis, TX 75119

    View on Map
    Claim this Listing
    For Sale
    $375,000

    Income-producing duplex with long-term tenants near downtown Ennis.

    Type:Multi-Family / Full Duplex
    Property size:
    2,080 SF
    Price / SF:
    $180/SF
    Added:
    May 14, 2026
    Days on Market:
    17
    Last Refresh:
    May 15 at 10:08 pm

    Property Features for 506 West Baylor Street

    General Information

    Standard status
    Active
    Size
    2,080 SF
    Property subtype
    Multi-Family / Full Duplex

    Building Details

    Year Built
    1905

    We can help!

    Listing Contact
    Lydia Metcalfe

    Listing agent Lydia Metcalfe License #0759425

    Listing office Realty Of America, LLC

    Listing date May 14, 2026

    Source Compass

    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 Realty Of America, LLC

    HighLights

    • Income‑producing duplex with long‑term tenants in place
    • Leases extend through June 2026 and May 2027, ensuring consistent cash flow
    • Each unit has a private entrance, private backyard, and dedicated garage parking
    • Upstairs unit features 2 bedrooms plus a third‑floor bonus space
    • Both units include a full kitchen and in‑unit laundry
    • Conveniently located near downtown Ennis shopping, dining, and local amenities

    Overview

    Located in Ennis, this income-producing duplex at 506 W Baylor Street presents an investment opportunity. The property features two units with private entrances, private backyard spaces, 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 property is currently leased with terms extending 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. The property size is 2080 square feet.
    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
    -96.632614
    Latitude
    32.3275647

    Nearby Similar for Sale

    • $375,000
      2,540 SF

      Ennis Shop and Workshop Warehouse

      Commercial property near I-45 and Buc-ee's travel center.
      700 S Interstate Highway 45, Ennis, TX 75119
      View Details
    • $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
    • $349,900

      Ennis Commercial Site on Creechville

      0.8-acre commercial site with visibility and accessibility.
      103 Creechville Road, Ennis, TX 75119
      View Details
    • $380,000

      Turnkey Food Truck Bar Space

      Food truck bar space in historic downtown Ennis, Texas.
      115 Main Street, Ennis, TX 75119
      View Details
    • $770,000
      3,709 SF

      Ennis Home with Acreage

      Spacious home on 11.958 acres near Ennis, Texas.
      839 Walker Creek Road, Ennis, TX 75119
      View Details
    • $1,999,995
      5,150 SF

      Ennis Estate on Ag-Exempt Acres

      Spacious Mediterranean-style estate on 24.05 acres in Ennis, TX.
      241 Gentry Road, Ennis, TX 75119
      View Details
    • $550,000

      Ennis Tire Shop Opportunity

      Established tire shop with high visibility in growing Ennis.
      1601 N Kaufman Street, Ennis, TX 75119
      View Details
    • $3,500,000
      3,912 SF

      Luxury Ranch Retreat on Acreage

      Exceptional ranch on 68+ acres with lakes and amenities.
      501 Alsdorf Road, Ennis, TX 75119
      View Details
    • $1,890,000
      2,720 SF

      Ennis Farm/Ranch with Stocked Lake

      102+ acre property with a spacious home and stocked lake.
      751 Sullivan Road, Ennis, TX 75119
      View Details
    • $399,000

      Modern Duplex in Ennis, TX

      Income-producing duplex built in 2021, convenient location, currently leased.
      709 W Madison Street, Ennis, TX 75119
      View Details
    • $263,500

      Historic Downtown Retail Space

      Versatile commercial space in Ennis's historic district.
      215 Main Street SW, Ennis, TX 75119
      View Details
    • $1,800,000

      Bowling Alley on Ennis Avenue

      Commercial building with bowling alley, bar, and kitchen for sale.
      2303 W Ennis Avenue, 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 West 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 with long‑term tenants in place; Leases extend through June 2026 and May 2027, ensuring consistent cash flow; Each unit has a private entrance, private backyard, and dedicated garage parking
    (469) 995-0358
    We can help!
    Listing Contact
    Lydia Metcalfe
    Real Estate License ID: 0759425
    Learn More
    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 West 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!