Three-Unit Triplex with Private
675 20th St Ne Unit 655, Paris, TX 75460
For Sale
$350,000
Each apartment includes two bedrooms, two full bathrooms, and a fenced backyard.
Property Size2,320 SF
Price / SF$150.86
Days on Market25
Property Features for 675 20th St Ne Unit 655
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Listing Agency:
Greb Real Estate
Listed By:
Jodie Downs · License TX #0734888
(903) 401-2939
Source:
Granburyhomefinder
Added: Oct 17
Changed: Nov 8
Last Checked: Nov 8 at 7:35AM
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 Greb Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in 2020, this 2,320-square-foot triplex contains three apartments. Each unit has two bedrooms, two full bathrooms, a living room, kitchen, pantry, and walk-in closet, along with its own privacy-fenced backyard. Stained concrete floors and stainless steel appliances are installed throughout the units. The property also includes six parking spaces.
Two apartments have month-to-month tenants; the remaining unit is covered by a one-year lease, with rent paid through Ark-Tex.
Two apartments have month-to-month tenants; the remaining unit is covered by a one-year lease, with rent paid through Ark-Tex.
Key Highlights
- Three apartments totaling 2,320 square feet
- Built in 2020
- Each unit has 2 bedrooms and 2 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,728
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,560
$374.6K
Cap Rate 7%
$267,543
$267.5K
Cap Rate 9%
$208,089
$208.1K
Market Conditions
NOI Build-Up for 2,320 SF
Gross rent
$28.7K $12.36/SF
− Vacancy
−$1.9K −$0.83/SF
EGI
$26.8K $11.53/SF
− OpEx
−$8.0K −$3.46/SF
NOI
$18.7K $8.07/SF
Area
Lamar County, TX
Vacancy
6.70%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,560
Cap Rate 7%
$267,543
Cap Rate 9%
$208,089
Alternative Uses
Best Use
Multifamily LT 5
$267.5K
$234.1K – $312.1K
NOI $18,728 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$241.2K
$211.0K – $281.4K
NOI $16,881 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$816.1K
$714.1K – $952.1K
NOI $57,128 @ 7.0% cap · market cap 16.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 75460, TX
22,925
Population
11,210
Households
2
Avg Household Size
38
Median Age
17%
College-Educated
88%
High-School Grad
101.9 sq mi
ZIP Area
225
Density / Sq Mi
$44,241
Median Household Income
$30,546
Median Earnings
$895
Median Rent
$123,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Each apartment includes two bedrooms, two full bathrooms, and a fenced backyard.
Where is this triplex located?
The property is located at 675 20th St Ne Unit 655 Paris, 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: Three apartments totaling 2,320 square feet; Built in 2020; Each unit has 2 bedrooms and 2 full bathrooms
