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    New Construction Luxury Duplex Title is generated by Realmo AI

    6616-6618 Florence Drive, Midlothian, TX 76065

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    For Sale
    $699,000

    Two one-level units under construction, each with four bedrooms, two baths, and covered patios with fenced backyards.

    Type:Multi-Family / Full Duplex
    Property size:
    3,306 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $211/SF
    Added:
    Jun 1, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 6 at 2:24 am

    Property Features for 6616-6618 Florence Drive

    General Information

    Standard status
    Active
    Size
    3,306 SF
    Lot size
    1.00 Acre
    Property subtype
    Multi-Family / Full Duplex

    Building Details

    Year Built
    2026

    We can help!

    Listing Contact
    Erion Shehaj

    Listing agent Erion Shehaj License #0516948

    Listing office Signature Real Estate

    Listing date Jun 1, 2026

    Source Compass

    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 Signature Real Estate

    HighLights

    • Two 1‑story units under construction, scheduled for completion Nov–Dec 2026, on a 1‑acre lot
    • Each unit offers 4 bedrooms, 2 bathrooms, and a 2‑car garage (two 1653 SF units total per unit plan)
    • Covered patios plus fenced backyards for each unit
    • Kitchen features include granite counters, kitchen island, pantry, and walk‑in closets; appliances include dishwasher, disposal, microwave, electric oven/range
    • Electric HVAC and electric water heater; flooring includes carpet and luxury vinyl plank; double vanity in interiors
    • Brick, siding, stone veneer, and wood exterior with composition roof; slab foundation; fenced yards include chain link fencing

    Overview

    This new construction duplex is being built on a 1-acre lot and will include two identical, one-level residences. Each unit will offer 1,653 square feet with four bedrooms, two bathrooms, and a two-car garage. Outdoor space is built into the design with a covered patio and a fenced-in backyard for each unit. Construction is currently underway, with an estimated completion date of November to December 2026.

    The property is located at 6616-6618 Florence Drive in Midlothian, Texas, within the Edgewood Estates development. The duplex is zoned to Waxahachie ISD schools. Midlothian is described as approximately a 30-minute drive to Downtown Dallas and Fort Worth, and the project is also noted as being within an 8 to 10-minute drive of Methodist Midlothian Health and Baylor Scott and White facilities in the area, plus local retail and dining.

    Designed for investors seeking a duplex add-on, this offering supports an owner-operator approach as well. The public remarks cite reported peak-season rents of $2,450 per month per unit and indicate professional property management is in place at a 5% rate. With the project under construction and planned completion in late 2026, the asset may align with buyers looking to take delivery of a newly built income property in the Midlothian area.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Midlothian
    County
    Ellis
    State
    Texas
    Longitude
    -96.9884
    Latitude
    32.4665

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    FAQs

    What type of property is this?
    Duplex - Two one-level units under construction, each with four bedrooms, two baths, and covered patios with fenced backyards.
    Where is this duplex located?
    The property is located at 6616-6618 Florence Drive Midlothian, TX.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: Two 1‑story units under construction, scheduled for completion Nov–Dec 2026, on a 1‑acre lot; Each unit offers 4 bedrooms, 2 bathrooms, and a 2‑car garage (two 1653 SF units total per unit plan); Covered patios plus fenced backyards for each unit
    (713) 952-3200
    We can help!
    Listing Contact
    Erion Shehaj
    Real Estate License ID: 0516948
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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