Updated Duplex with Storage
For Sale
$364,000
515 Gibbins Court Unit 515517, Arlington, TX 76011
Two-unit residential property with refreshed interiors, backyard fencing, and a covered outdoor area.
Property Size1,918 SF
Price / SF$189.78
Days on Market229
Property Features for 515 Gibbins Court Unit 515517
General Information
Standard status
Active
Size
1,918 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Amenities
Ceiling Fan(s), Central Air, Electric
Central, Electric
No
Laminate
Dishwasher, Electric Range, Electric Water Heater, Refrigerator
Window Coverings
2
Eat-in Kitchen
Wood Burning
Composition
One
Wood
Covered Patio/Porch, Storage
1
Slab
Assessor
Brick
Front Porch, Rear Porch
Building Details
Year Built
1981
Buildings
1
Listing Agency:
RE/MAX Associates of Arlington
(817) 276-5149
Listed By:
Steve Young · License #0410216
(817) 276-5149
Source:
Compass
Added: Jan 16
Changed: Aug 31
Last Checked: Aug 30 at 7:28AM
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 contains 1,918 square feet across two units and was built in 1981. Both residences have been updated, with central air, ceiling fans, laminate flooring, eat-in kitchens, dishwashers, electric ranges, and wood-burning fireplaces. Unit 515 includes a storage shed, while the property also features front and rear porches, a covered patio, and replaced backyard fencing.
The property is positioned on a cul-de-sac at 515 Gibbins Court in Arlington, Texas, south of I-30 and near North Arlington events and attractions. Unit 517 is leased through 10-31-2026, and Unit 515 is leased through 1-31-2027. The refrigerator in Unit 517 belongs to its tenant; the refrigerator in Unit 515 remains with the unit. Owner financing is available as an option.
The property is positioned on a cul-de-sac at 515 Gibbins Court in Arlington, Texas, south of I-30 and near North Arlington events and attractions. Unit 517 is leased through 10-31-2026, and Unit 515 is leased through 1-31-2027. The refrigerator in Unit 517 belongs to its tenant; the refrigerator in Unit 515 remains with the unit. Owner financing is available as an option.
Key Highlights
- 1,918‑square‑foot duplex built in 1981
- Both units have been updated
- Leases extend through 10‑31‑2026 and 1‑31‑2027
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
5.18%
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 5.18%
Second Best
Apartment 5plus
$212.3K
$185.7K – $247.6K
NOI $14,858 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$565.5K
$494.9K – $659.8K
NOI $39,588 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 residential property with refreshed interiors, backyard fencing, and a covered outdoor area.
Where is this duplex located?
The property is located at 515 Gibbins Court Unit 515517 Arlington, TX.
What is the asking price?
The asking price for this property is $364,000.
What are key features of this property?
This property features: 1,918‑square‑foot duplex built in 1981; Both units have been updated; Leases extend through 10‑31‑2026 and 1‑31‑2027
