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Pending
515 Gibbins Court, Arlington, TX 76011
Two-unit duplex with recent updates, including backyard fencing replacement and a tenant storage shed in one unit.
Property Size1,918 SF
Days on Market65
Property Features for 515 Gibbins Court
General Information
Standard status
Pending
Size
1,918 SF
Property subtype
Multifamily
Occupancy
100%
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1981
Tenancy
Multi
Listing Agency:
RE/MAX Associates of Arlington
Listed By:
STEVE YOUNG · License #0410216SA
Source:
Crexi
Added: Jun 4
Changed: Jul 10
Last Checked: Jul 24 at 4:44PM
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 RE/MAX Associates of Arlington
Investment Insights
Based on property information with market context.
This duplex includes two separate units, 515 and 517, with recent updates in both homes. The seller notes replacement of fencing in the backyards, and 515 includes a nice-sized storage shed available for tenant use. Additional fixture details are limited to the refrigerator in unit 517, which belongs to the tenant, while the appliance status for 515 remains with the unit.
The property is located on a cul-de-sac street, just south of I-30, in Arlington, TX 76011. Based on the current leasing arrangement, the units provide in-place occupancy with a defined lease timeline for each unit.
For buyers seeking residential income property, this duplex offers straightforward tenant tenure, with unit 517 leased through 10-31-2026 and unit 515 leased through 1-31-2027. Owner financing is an option to consider, and the current leases may appeal to investors looking for an established rental schedule rather than immediate turnover. Please note that tenant-owned items, such as the refrigerator in unit 517, remain with the occupant at lease end.
The property is located on a cul-de-sac street, just south of I-30, in Arlington, TX 76011. Based on the current leasing arrangement, the units provide in-place occupancy with a defined lease timeline for each unit.
For buyers seeking residential income property, this duplex offers straightforward tenant tenure, with unit 517 leased through 10-31-2026 and unit 515 leased through 1-31-2027. Owner financing is an option to consider, and the current leases may appeal to investors looking for an established rental schedule rather than immediate turnover. Please note that tenant-owned items, such as the refrigerator in unit 517, remain with the occupant at lease end.
Key Highlights
- Two‑unit duplex built in 1981, with both units recently updated
- Backyard fencing replacement completed as part of the recent updates
- 515 includes a tenant storage shed for additional storage
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
$18,847
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
5.24%
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%
$376,940
$376.9K
Cap Rate 7%
$269,243
$269.2K
Cap Rate 9%
$209,411
$209.4K
Market Conditions
NOI Build-Up for 1,918 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
$29.2K $15.24/SF
− Vacancy
−$2.3K −$1.20/SF
EGI
$26.9K $14.04/SF
− OpEx
−$8.1K −$4.21/SF
NOI
$18.8K $9.83/SF
Area
Arlington, TX
Vacancy
7.89%
Lease Rate
$15.24 /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%
$376,940
Cap Rate 7%
$269,243
Cap Rate 9%
$209,411
Alternative Uses
Best Use
Multifamily LT 5
$269.2K
$235.6K – $314.1K
NOI $18,847 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$212.3K
$185.7K – $247.6K
NOI $14,858 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$565.5K
$494.9K – $659.8K
NOI $39,588 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,509
Businesses Nearby
Explore this area
Business Placement
Demographics for 76011, TX
23,158
Population
11,991
Households
1.9
Avg Household Size
32
Median Age
27%
College-Educated
83%
High-School Grad
8.1 sq mi
ZIP Area
2,859
Density / Sq Mi
$51,910
Median Household Income
$36,580
Median Earnings
$1,266
Median Rent
$218,400
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-unit duplex with recent updates, including backyard fencing replacement and a tenant storage shed in one unit.
Where is this duplex located?
The property is located at 515 Gibbins Court Arlington, TX.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1981, with both units recently updated; Backyard fencing replacement completed as part of the recent updates; 515 includes a tenant storage shed for additional storage
