Updated Two-Unit
New
For Sale
$550,000
612 Royal Crest Drive, Richardson, TX 75081
Separate residences offer flexibility for owner occupancy alongside rental use.
Property Size2,482 SF
Price / SF$221.60
Days on Market5
Property Features for 612 Royal Crest Drive
General Information
Standard status
Active
Size
2,482 SF
Total Parking Spaces
2
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Amenities
Decorative Lighting
Eat-In Kitchen
Granite Counters
Open Floorplan
Walk-In Closet(S)
Covered Patio/Porch
Building Details
Building Size
2,482 SF
Year Built
1965
Year Renovated
2021
Buildings
1
Stories
1
Units
2
Listing Agency:
Ebby Halliday Realtors
(972) 608-0300
Listed By:
Kimberly Woodard · License #0485170
(214) 632-2092
Source:
Bourquinrealty
Added: Oct 19
Changed: Oct 22
Last Checked: Oct 22 at 2:28PM
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 Ebby Halliday Realtors
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Investment Insights
Based on property information with market context.
This 2,482-square-foot duplex, built in 1965, comprises two residences at 612–614 Royal Crest Drive. Renovations include kitchens with granite counters, cabinetry and appliances, plus replacement windows, new flooring, drywall work, ceiling insulation and recessed lighting. Other improvements span plumbing, shower pans, water heaters, fencing and garage door motors. The 614 side also has updated electrical wiring and panel, a new sewage system and a replacement sliding glass door.
Most work dates to 2021, with further updates completed afterward. The garage door on the 614 side was replaced in 2021; the 612 garage door was replaced in 2023. The property is in Richardson, with access to major thoroughfares, shopping, dining and employment centers.
Most work dates to 2021, with further updates completed afterward. The garage door on the 614 side was replaced in 2021; the 612 garage door was replaced in 2023. The property is in Richardson, with access to major thoroughfares, shopping, dining and employment centers.
Key Highlights
- Two‑unit duplex totaling 2482 square feet; built in 1965
- Both kitchens have updated cabinetry, granite countertops and appliances
- Replacement windows, flooring, drywall, ceiling insulation and can lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,026
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$480,520
$480.5K
Cap Rate 7%
$343,229
$343.2K
Cap Rate 9%
$266,956
$267.0K
Market Conditions
NOI Build-Up for 2,482 SF
Gross rent
$38.1K $15.36/SF
− Vacancy
−$3.8K −$1.53/SF
EGI
$34.3K $13.83/SF
− OpEx
−$10.3K −$4.15/SF
NOI
$24.0K $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 Rate 5%
$480,520
Cap Rate 7%
$343,229
Cap Rate 9%
$266,956
Alternative Uses
Best Use
Multifamily LT 5
$343.2K
$300.3K – $400.4K
NOI $24,026 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$307.9K
$269.4K – $359.2K
NOI $21,552 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$753.6K
$659.4K – $879.2K
NOI $52,753 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,189
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate residences offer flexibility for owner occupancy alongside rental use.
Where is this duplex located?
The property is located at 612 Royal Crest Drive Richardson, 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: Two‑unit duplex totaling 2482 square feet; built in 1965; Both kitchens have updated cabinetry, granite countertops and appliances; Replacement windows, flooring, drywall, ceiling insulation and can lighting
