Updated Full
For Sale
$599,900
603 Woodhaven Place, Richardson, TX 75081
Two-unit residential property with refreshed interiors, open living areas, and fenced rear yards.
Property Size3,440 SF
Days on Market14
Property Features for 603 Woodhaven Place
General Information
Standard status
Active
Size
3,440 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,665
Building Details
Building Size
3,440 SF
Year Built
1973
Buildings
1
Listing Agency:
Creekview Realty
(512) 444-8778
Listed By:
John Prell · License #0493630
Source:
Nilesrealtygroup
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 25 at 11:28AM
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 Creekview Realty
Investment Insights
Based on property information with market context.
This full duplex, built in 1973, features updated interiors, an open layout, high ceilings, and spacious living areas. Each residence includes a large primary suite with double walk-in closets and built-in storage, along with double closets in the other bedrooms. Fenced back yards provide private outdoor space, while parking is available at both the front and rear of the property.
The property is positioned on a quiet cul-de-sac in Richardson, with shopping and restaurants nearby. The DART Station is approximately 1.5 miles away, adding a transit connection to the surrounding residential setting.
The property is positioned on a quiet cul-de-sac in Richardson, with shopping and restaurants nearby. The DART Station is approximately 1.5 miles away, adding a transit connection to the surrounding residential setting.
Key Highlights
- Full duplex with updated interiors and open layouts
- Large primary suites with double walk‑in closets and built‑in storage
- Double closets in the other bedrooms
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
$33,299
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
5.55%
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%
$665,980
$666.0K
Cap Rate 7%
$475,700
$475.7K
Cap Rate 9%
$369,989
$370.0K
Market Conditions
NOI Build-Up for 3,440 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
$52.8K $15.36/SF
− Vacancy
−$5.3K −$1.53/SF
EGI
$47.6K $13.83/SF
− OpEx
−$14.3K −$4.15/SF
NOI
$33.3K $9.68/SF
Area
Richardson, TX
Vacancy
9.97%
Lease Rate
$15.36 /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%
$665,980
Cap Rate 7%
$475,700
Cap Rate 9%
$369,989
Alternative Uses
Best Use
Multifamily LT 5
$475.7K
$416.2K – $555.0K
NOI $33,299 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$426.7K
$373.4K – $497.9K
NOI $29,871 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$1.04M
$913.9K – $1.22M
NOI $73,115 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 75081, TX
37,766
Population
14,662
Households
2.6
Avg Household Size
37
Median Age
45%
College-Educated
90%
High-School Grad
9.0 sq mi
ZIP Area
4,196
Density / Sq Mi
$90,953
Median Household Income
$50,026
Median Earnings
$1,765
Median Rent
$340,600
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, open living areas, and fenced rear yards.
Where is this duplex located?
The property is located at 603 Woodhaven Place Richardson, TX.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Full duplex with updated interiors and open layouts; Large primary suites with double walk‑in closets and built‑in storage; Double closets in the other bedrooms
