Remodeled Duplex with Furnished
For Sale
$499,950
6722 Sue Drive, Richland Hills, TX 76118
Flexible two-residence property with private-entry short-term rental accommodations and a renovated primary home.
Property Size3,712 SF
Price / SF$134.68
Days on Market195
Property Features for 6722 Sue Drive
General Information
Standard status
Active
Size
3,712 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Amenities
Central Air, Electric
Central, Electric
Engineered Wood, Hardwood, Tile, Wood
Dishwasher, Disposal, Dryer, Electric Range, Microwave, Refrigerator, Washer
Chandelier, Decorative Lighting, Double Vanity, Dry Bar, High Speed Internet Available, In-Law Suite Floorplan, Kitchen Island, Natural Woodwork, Open Floorplan, Smart Home System, Walk-In Closet(s)
Brick, Decorative, Double Sided, Wood Burning
Yes
Composition, Shingle
One
Back Yard, Fenced
No
1
Combination, Slab
Appraiser
2
Brick, Frame, Siding
Building Details
Year Built
1955
Buildings
1
Listing Agency:
Randall Garrett Real Estate
(817) 230-3737
Listed By:
Ana Garrett · License #0641879
(817) 230-3737
Source:
Compass
Added: Feb 17
Changed: Aug 30
Last Checked: Aug 30 at 7:58PM
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 Randall Garrett Real Estate
Investment Insights
Based on property information with market context.
This 3,712 SF duplex property, built in 1955, combines a remodeled primary residence with a furnished two-bedroom apartment. The apartment has a separate entrance and is currently used for Airbnb stays. The main home includes a designer kitchen, coffee bar, finished living areas, hardwood and tile flooring, a kitchen island, walk-in closet, central electric HVAC, and smart-home features.
A central room offers another private entry, plumbing behind the walls for a future kitchen, two laundry closets, and room for a full bathroom. The property also includes a fenced backyard, composition shingle roofing, brick, frame and siding construction, and a slab foundation. The City has inspected the renovation, and the property is located near the airport. Furniture and appliances in both residences are negotiable.
A central room offers another private entry, plumbing behind the walls for a future kitchen, two laundry closets, and room for a full bathroom. The property also includes a fenced backyard, composition shingle roofing, brick, frame and siding construction, and a slab foundation. The City has inspected the renovation, and the property is located near the airport. Furniture and appliances in both residences are negotiable.
Key Highlights
- 3,712 SF duplex property built in 1955
- Furnished 2‑bedroom apartment with private entrance and current Airbnb use
- Renovated primary home with designer kitchen, coffee bar, and kitchen island
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
$27,962
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
5.59%
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%
$559,240
$559.2K
Cap Rate 7%
$399,457
$399.5K
Cap Rate 9%
$310,689
$310.7K
Market Conditions
NOI Build-Up for 3,712 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
$45.0K $12.12/SF
− Vacancy
−$5.0K −$1.36/SF
EGI
$39.9K $10.76/SF
− OpEx
−$12.0K −$3.23/SF
NOI
$28.0K $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%
$559,240
Cap Rate 7%
$399,457
Cap Rate 9%
$310,689
Alternative Uses
Best Use
Multifamily LT 5
$399.5K
$349.5K – $466.0K
NOI $27,962 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$347.3K
$303.9K – $405.2K
NOI $24,309 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,404 @ 7.0% cap · market cap 18.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Explore this area
Business Placement
Demographics for 76118, TX
16,537
Population
6,584
Households
2.5
Avg Household Size
37
Median Age
27%
College-Educated
89%
High-School Grad
9.7 sq mi
ZIP Area
1,705
Density / Sq Mi
$90,453
Median Household Income
$47,969
Median Earnings
$1,400
Median Rent
$290,900
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 - Flexible two-residence property with private-entry short-term rental accommodations and a renovated primary home.
Where is this duplex located?
The property is located at 6722 Sue Drive Richland Hills, TX.
What is the asking price?
The asking price for this property is $499,950.
What are key features of this property?
This property features: 3,712 SF duplex property built in 1955; Furnished 2‑bedroom apartment with private entrance and current Airbnb use; Renovated primary home with designer kitchen, coffee bar, and kitchen island
