Two-Bedroom Duplex with
For Sale
$350,000
6608 Central Avenue, North Richland Hills, TX 76182
Both residences are leased and include private patios, central air, and practical kitchen amenities.
Property Size2,154 SF
Price / SF$162.49
Days on Market181
Property Features for 6608 Central Avenue
General Information
Standard status
Active
Size
2,154 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Full Duplex
Occupancy
100%
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
private back patios
carport parking
Central Air
Central
Carpet, Ceramic Tile
Dishwasher, Electric Range
Eat-in Kitchen
No
Composition
One
Partial
1
Slab
Public Records
2
Brick
Building Details
Year Built
1984
Buildings
1
Tenancy
Multi
Listing Agency:
Remax Preferred
(903) 278-2901
Listed By:
Jason Thomson · License #0488798
(903) 278-2901
Source:
Compass
Added: Mar 1
Changed: Aug 29
Last Checked: Aug 29 at 7:36PM
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 Remax Preferred
Investment Insights
Based on property information with market context.
This duplex contains 2,154 square feet across two residences, each arranged with 2 bedrooms, 2 full bathrooms, a living area, and a kitchen with an eat-in area. Interior finishes include carpet and ceramic tile, while central air, a dishwasher, and an electric range support everyday functionality. Each unit also has a private rear patio and carport parking.
Built in 1984, the property has a brick exterior, composition roofing, and a slab foundation. Both units are currently leased. The address is 6608 Central Avenue in North Richland Hills, Texas, with access to local amenities, shopping, and major roadways identified in the property information.
Built in 1984, the property has a brick exterior, composition roofing, and a slab foundation. Both units are currently leased. The address is 6608 Central Avenue in North Richland Hills, Texas, with access to local amenities, shopping, and major roadways identified in the property information.
Key Highlights
- Two residences totaling 2,154 square feet
- Each unit has 2 bedrooms and 2 full bathrooms
- Both units are currently leased
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
$16,226
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
4.64%
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%
$324,520
$324.5K
Cap Rate 7%
$231,800
$231.8K
Cap Rate 9%
$180,289
$180.3K
Market Conditions
NOI Build-Up for 2,154 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
$26.1K $12.12/SF
− Vacancy
−$2.9K −$1.36/SF
EGI
$23.2K $10.76/SF
− OpEx
−$7.0K −$3.23/SF
NOI
$16.2K $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 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%
$324,520
Cap Rate 7%
$231,800
Cap Rate 9%
$180,289
Alternative Uses
Best Use
Multifamily LT 5
$231.8K
$202.8K – $270.4K
NOI $16,226 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$201.5K
$176.3K – $235.1K
NOI $14,106 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$757.7K
$663.0K – $884.0K
NOI $53,040 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
Explore this area
Business Placement
Demographics for 76182, TX
31,117
Population
11,845
Households
2.6
Avg Household Size
43
Median Age
40%
College-Educated
95%
High-School Grad
8.7 sq mi
ZIP Area
3,577
Density / Sq Mi
$119,722
Median Household Income
$60,589
Median Earnings
$1,821
Median Rent
$364,100
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 - Both residences are leased and include private patios, central air, and practical kitchen amenities.
Where is this duplex located?
The property is located at 6608 Central Avenue North Richland Hills, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two residences totaling 2,154 square feet; Each unit has 2 bedrooms and 2 full bathrooms; Both units are currently leased
