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    Updated Duplex Investment Opportunity Title is generated by Realmo AI

    515 Gibbins Court, Arlington, TX 76011

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    For Sale
    $359,900

    MULTI_FAMILY - Arlington, TX

    Lot size:
    0.14 Acres
    Added:
    Apr 14, 2026
    Days on Market:
    54
    Last Refresh:
    Jun 6 at 9:06 pm

    Property Features for 515 Gibbins Court

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 4, Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 1
    Parking
    4
    Parking features
    Assigned, Driveway
    Patio and Porch features
    Porch
    Interior features
    EatInKitchen
    Exterior features
    Storage
    Fireplace
    1
    Appliances
    Dishwasher, ElectricRange, ElectricWaterHeater, Refrigerator
    Standard status
    Active
    APN
    04618319
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Description
    GEMINI NORTH ADDITION BLOCK 1 LOT 4
    Tax Annual Amount
    5726

    Utilities

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

    Building Details

    Year built
    1981
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Laminate
    Building materials
    Brick
    Roof type
    Composition
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Steve Young
    Steve Young

    Listing agent Steve Young License #0410216

    Listing office RE/MAX Associates of Arlington Arlington, TX

    Listing date Apr 14, 2026

    MLS# 21154384 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

    • Two‑unit property built in 1981 with brick exterior, composition roof, and central electric HVAC
    • Both units include updated interiors with an eat‑in kitchen; appliances include dishwasher, electric range, electric water heater, and refrigerator (per unit 517/tenant)
    • Four bedrooms and multiple bathrooms across the units, with laminate flooring and cooling including central air and ceiling fans
    • Fireplace in the home, plus a porch and storage available (including a storage shed for unit 515)
    • Parking includes assigned spaces and a driveway
    • Tenant leases in place: unit 517 lease until 10‑31‑2026; unit 515 lease until 1‑31‑2027

    Overview

    This duplex investment includes two separate units on a small residential lot, with recent updates to both sides. Backyards have fencing that has been replaced, helping improve day-to-day tenant usability. Unit 515 includes a nice-sized storage shed for additional on-site storage, while Unit 517 has a tenant-provided refrigerator per the lease terms.

    The property is located on a cul-de-sac street in Arlington, positioned just south of I-30. Current leasing provides continuity of income, with Unit 517 leased through 10-31-2026 and Unit 515 leased through 1-31-2027. The leases should appeal to investors seeking a manageable timeline for future turnover and rent adjustments.

    With both units recently refreshed, this property is well-suited for buyers looking for a turn-key residential income asset with defined lease expirations. The staggered end dates can help an operator plan for renovations and re-leasing when the time comes, and the owner financing option may broaden the pool of qualified buyers.
    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 Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Arlington
    County
    Tarrant
    State
    Texas
    Longitude
    -97.112326
    Latitude
    32.756036

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    FAQs

    What type of property is this?
    Duplex - Two recently updated units with staggered leases offer an owner-occupied or investor-friendly income profile.
    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 property built in 1981 with brick exterior, composition roof, and central electric HVAC; Both units include updated interiors with an eat‑in kitchen; appliances include dishwasher, electric range, electric water heater, and refrigerator (per unit 517/tenant); Four bedrooms and multiple bathrooms across the units, with laminate flooring and cooling including central air and ceiling fans
    (817) 276-5170
    We can help!
    Listing Contact
    Steve Young
    Steve Young
    Real Estate License ID: 0410216
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    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.

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