Four-Unit Quadplex with Central
For Sale
$550,000
609 Race Street, Crowley, TX 76036
Each residence offers a three-bedroom, one-bath layout with dedicated utility space.
Property Size4,432 SF
Days on Market49
Property Features for 609 Race Street
General Information
Standard status
Active
Size
4,432 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 3BR/1BA
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$11,142
Building Details
Building Size
4,432 SF
Year Built
1998
Listing Agency:
Aspire Investments LLC
Listed By:
Sherry Patterson · License #0663367
(817) 822-2640
Source:
Nilesrealtygroup
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 28 at 3:00PM
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 Aspire Investments LLC
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Investment Insights
Based on property information with market context.
Built in 1998, this four-unit quadplex at 609 Race Street includes four matching residences, each configured with three bedrooms and one bathroom. The interiors provide living, dining, kitchen, and utility areas, with washer and dryer hookups in the utility space. Every unit is equipped with its own water heater and central HVAC system.
Water and electricity are separately metered to the individual units, with those utilities paid by tenants. The owner handles monthly trash service. The exterior has been freshly painted. One unit is currently occupied on a month-to-month basis, while the remaining three units have been vacated for updates. The property is located in Crowley, Texas.
Water and electricity are separately metered to the individual units, with those utilities paid by tenants. The owner handles monthly trash service. The exterior has been freshly painted. One unit is currently occupied on a month-to-month basis, while the remaining three units have been vacated for updates. The property is located in Crowley, Texas.
Key Highlights
- Four‑unit quadplex built in 1998
- Each unit has 3 bedrooms and 1 bathroom
- Individual water heaters and central HVAC in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,386
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$667,720
$667.7K
Cap Rate 7%
$476,943
$476.9K
Cap Rate 9%
$370,956
$371.0K
Market Conditions
NOI Build-Up for 4,432 SF
Gross rent
$53.7K $12.12/SF
− Vacancy
−$6.0K −$1.36/SF
EGI
$47.7K $10.76/SF
− OpEx
−$14.3K −$3.23/SF
NOI
$33.4K $7.53/SF
Area
Tarrant County, TX
Vacancy
11.21%
Lease Rate
$12.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$667,720
Cap Rate 7%
$476,943
Cap Rate 9%
$370,956
Alternative Uses
Best Use
Multifamily LT 5
$476.9K
$417.3K – $556.4K
NOI $33,386 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$414.6K
$362.8K – $483.8K
NOI $29,025 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,134 @ 7.0% cap · market cap 19.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
282
Businesses Nearby
Explore this area
Business Placement
Demographics for 76036, TX
31,589
Population
11,807
Households
2.7
Avg Household Size
36
Median Age
30%
College-Educated
92%
High-School Grad
44.1 sq mi
ZIP Area
716
Density / Sq Mi
$94,124
Median Household Income
$48,214
Median Earnings
$1,579
Median Rent
$288,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence offers a three-bedroom, one-bath layout with dedicated utility space.
Where is this quadplex located?
The property is located at 609 Race Street Crowley, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1998; Each unit has 3 bedrooms and 1 bathroom; Individual water heaters and central HVAC in every unit
