Brick Duplex With Low-Maintenance
For Sale
$279,000
Pending
621 Franklin Avenue Unit 1, Pottsboro, TX 75076
Duplex is fully occupied and features a brick exterior with easy maintenance in central Pottsboro.
Property Size2,416 SF
Days on Market77
Property Features for 621 Franklin Avenue Unit 1
General Information
Standard status
Pending
Size
2,416 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
Ceiling Fan(s), Central Air, Gas
Central, Natural Gas
No
Ceramic Tile, Laminate, Simulated Wood
Dishwasher, Electric Range, Electric Water Heater
Window Coverings
Cable TV Available, Decorative Lighting, Eat-in Kitchen, Flat Screen Wiring, High Speed Internet Available
Composition
One
1
Brick/Mortar
Assessor
2
Brick
Building Details
Year Built
1999
Buildings
1
Listing Agency:
Steve Cook & Co, REALTORS
Listed By:
Janey Hogenson · License #0549584
(903) 786-3355
Source:
Compass
Added: Jun 23
Changed: Aug 8
Last Checked: Jul 31 at 12:38PM
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 Steve Cook & Co, REALTORS
Investment Insights
Based on property information with market context.
This duplex offers a brick exterior designed for easy maintenance. The property is fully occupied, providing immediate rental status for buyers seeking an income-producing residential asset.
The location is central to Pottsboro, with a short walk to Pottsboro Park and its playground. The broader area includes a lake community lifestyle, with Lake Texoma reachable by a short drive.
Additional duplex units are available, according to the listing remarks, which may support buyers interested in building a multi-unit residential portfolio.
The location is central to Pottsboro, with a short walk to Pottsboro Park and its playground. The broader area includes a lake community lifestyle, with Lake Texoma reachable by a short drive.
Additional duplex units are available, according to the listing remarks, which may support buyers interested in building a multi-unit residential portfolio.
Key Highlights
- Fully occupied 2‑unit duplex in central Pottsboro
- Brick exterior with easy‑maintenance construction and composition roof
- Built in 1999 (1 story) with brick/mortar foundation details
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
$18,520
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
6.64%
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%
$370,400
$370.4K
Cap Rate 7%
$264,571
$264.6K
Cap Rate 9%
$205,778
$205.8K
Market Conditions
NOI Build-Up for 2,416 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
$29.9K $12.36/SF
− Vacancy
−$3.4K −$1.41/SF
EGI
$26.5K $10.95/SF
− OpEx
−$7.9K −$3.29/SF
NOI
$18.5K $7.67/SF
Area
Grayson County, TX
Vacancy
11.40%
Lease Rate
$12.36 /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%
$370,400
Cap Rate 7%
$264,571
Cap Rate 9%
$205,778
Alternative Uses
Best Use
Multifamily LT 5
$264.6K
$231.5K – $308.7K
NOI $18,520 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$234.5K
$205.2K – $273.6K
NOI $16,418 @ 7.0% cap · market cap 5.88%
Theoretical Best
Hotel Hospitality
$1.24M
$1.08M – $1.45M
NOI $86,759 @ 7.0% cap · market cap 31.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
210
Businesses Nearby
Explore this area
Business Placement
Demographics for 75076, TX
8,057
Population
4,361
Households
1.8
Avg Household Size
50
Median Age
21%
College-Educated
93%
High-School Grad
50.3 sq mi
ZIP Area
160
Density / Sq Mi
$76,644
Median Household Income
$41,274
Median Earnings
$1,337
Median Rent
$241,700
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 - Duplex is fully occupied and features a brick exterior with easy maintenance in central Pottsboro.
Where is this duplex located?
The property is located at 621 Franklin Avenue Unit 1 Pottsboro, TX.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Fully occupied 2‑unit duplex in central Pottsboro; Brick exterior with easy‑maintenance construction and composition roof; Built in 1999 (1 story) with brick/mortar foundation details
