Duplex with Two Rental
For Sale
Contact for pricing
Pending
615 Polk Street, Wichita Falls, TX 76301
Two units offer distinct one-bedroom and two-bedroom layouts, with a washer connection in the larger unit.
Property Size1,334 SF
Days on Market23
Property Features for 615 Polk Street
General Information
Standard status
Pending
Size
1,334 SF
Property subtype
Multi-Family
Units
Unit Mix
2 bedroom, 1 bath, 1 bedroom, 1 bath
Multifamily Units
2
Listing Agency:
CHANDLER REALTORS
Listed By:
Chandler · License #93
(940) 636-1420
Source:
Sandraworthamteam
Added: Sep 28
Changed: Oct 15
Last Checked: Oct 19 at 4:10AM
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 CHANDLER REALTORS
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Investment Insights
Based on property information with market context.
This duplex contains two separate units: one with two bedrooms and one bathroom, and another with one bedroom and one bathroom. The two-bedroom unit includes a washer connection. The property is offered in its current as-is condition and contains 1,334 square feet.
Key Highlights
- Two‑unit duplex with 1,334 square feet
- Two‑bedroom, one‑bath unit with washer connection
- One‑bedroom, one‑bath unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,197
Suggested Prices Based on Cap Rates
Cap Rate 5%
$223,940
$223.9K
Cap Rate 7%
$159,957
$160.0K
Cap Rate 9%
$124,411
$124.4K
Market Conditions
NOI Build-Up for 1,334 SF
Gross rent
$21.6K $16.20/SF
− Vacancy
−$1.3K −$0.94/SF
EGI
$20.4K $15.26/SF
− OpEx
−$9.2K −$6.87/SF
NOI
$11.2K $8.39/SF
Area
Wichita Falls, TX
Vacancy
5.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$223,940
Cap Rate 7%
$159,957
Cap Rate 9%
$124,411
Alternative Uses
Best Use
Multifamily LT 5
$172.1K
$150.6K – $200.8K
NOI $12,049 @ 7.0% cap · market cap 40.50%
Second Best
Apartment 5plus
$160.0K
$140.0K – $186.6K
NOI $11,197 @ 7.0% cap · market cap 37.64%
Theoretical Best
Warehouse
$1.59M
$1.39M – $1.86M
NOI $111,443 @ 7.0% cap · market cap 374.60%
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
684
Businesses Nearby
Explore this area
Business Placement
Demographics for 76301, TX
15,320
Population
7,762
Households
2
Avg Household Size
38
Median Age
13%
College-Educated
80%
High-School Grad
11.4 sq mi
ZIP Area
1,344
Density / Sq Mi
$41,828
Median Household Income
$29,532
Median Earnings
$790
Median Rent
$71,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two units offer distinct one-bedroom and two-bedroom layouts, with a washer connection in the larger unit.
Where is this duplex located?
The property is located at 615 Polk Street Wichita Falls, TX.
What are key features of this property?
This property features: Two‑unit duplex with 1,334 square feet; Two‑bedroom, one‑bath unit with washer connection; One‑bedroom, one‑bath unit
