Three-Unit Townhome
For Sale
$1,245,000
506 508 510 W West Oak St, Weatherford, TX 76086
Fully occupied residential income property with attached garages and private fenced yards.
Property Size4,809 SF
Price / SF$258.89
Days on Market178
Property Features for 506 508 510 W West Oak St
General Information
Standard status
Active
Size
4,809 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
3 x 2BR/2BA
Multifamily Units
3
Parking per Unit
2
Amenities
private fenced back yard
porch
laundry room
Building Details
Year Built
2023
Buildings
3
Listing Agency:
The Platinum Group RE, LLC
(817) 341-6156
Listed By:
Phillip Sanders (817) 360-6203
Source:
Dfwareahousehunt
Added: Mar 4
Changed: Aug 29
Last Checked: Aug 26 at 8:19AM
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 The Platinum Group RE, LLC
Investment Insights
Based on property information with market context.
This three-unit residential property consists of townhomes built in 2023, with 4,809 SF of total property size. Each residence includes two bedrooms, two bathrooms, an attached two-car garage, a laundry room, a mud bench, and closet storage. Interior features include 10-foot ceilings, granite kitchen countertops, stainless steel appliances, custom cabinetry, a pantry, and an island with pendant lighting. Each unit also has a private fenced backyard and porch.
The property is located at 506, 508, and 510 W West Oak St in Weatherford’s historical district. Downtown Weatherford Historical Square shops, restaurants, and bars are within walking distance, as is a grocery store. All three units have remained 100% occupied since new, and each occupant has expressed a desire to continue leasing.
The property is located at 506, 508, and 510 W West Oak St in Weatherford’s historical district. Downtown Weatherford Historical Square shops, restaurants, and bars are within walking distance, as is a grocery store. All three units have remained 100% occupied since new, and each occupant has expressed a desire to continue leasing.
Key Highlights
- Three townhomes, each with 2 bedrooms and 2 baths
- 4,809 SF property built in 2023
- 100% occupied since new; occupants have expressed a desire to continue their leases
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
$84,559
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
6.79%
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%
$1,691,180
$1.7M
Cap Rate 7%
$1,207,986
$1.2M
Cap Rate 9%
$939,544
$939.5K
Market Conditions
NOI Build-Up for 4,809 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
$134.5K $27.96/SF
− Vacancy
−$13.7K −$2.84/SF
EGI
$120.8K $25.12/SF
− OpEx
−$36.2K −$7.54/SF
NOI
$84.6K $17.58/SF
Area
Parker County, TX
Vacancy
10.16%
Lease Rate
$27.96 /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%
$1,691,180
Cap Rate 7%
$1,207,986
Cap Rate 9%
$939,544
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,559 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$1.04M
$914.1K – $1.22M
NOI $73,126 @ 7.0% cap · market cap 5.87%
Theoretical Best
Industrial
$4.78M
$4.18M – $5.57M
NOI $334,496 @ 7.0% cap · market cap 26.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,130
Businesses Nearby
Explore this area
Business Placement
Demographics for 76086, TX
21,429
Population
9,689
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
13.8 sq mi
ZIP Area
1,553
Density / Sq Mi
$61,415
Median Household Income
$38,347
Median Earnings
$1,389
Median Rent
$235,100
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?
Triplex - Fully occupied residential income property with attached garages and private fenced yards.
Where is this triplex located?
The property is located at 506 508 510 W West Oak St Weatherford, TX.
What is the asking price?
The asking price for this property is $1,245,000.
What are key features of this property?
This property features: Three townhomes, each with 2 bedrooms and 2 baths; 4,809 SF property built in 2023; 100% occupied since new; occupants have expressed a desire to continue their leases
