Duplex With Separate
For Sale
$525,000
701 Parkplace Ridge, Princeton, TX 75407
Two residential units offer private access, practical layouts, and convenient proximity to US-380, schools, shopping, and dining.
Property Size2,878 SF
Price / SF$182.42
Days on Market189
Property Features for 701 Parkplace Ridge
General Information
Standard status
Active
Size
2,878 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Full Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
Electric
Central, Electric
Other
Dishwasher, Disposal
No
Two
2
Concrete Perimeter
Public Records
Brick, Concrete
Building Details
Year Built
2008
Buildings
1
Listing Agency:
Keller Williams Realty-FM
(817) 991-0351
Listed By:
Sri Sadam · License #0778014
(817) 991-0351
Source:
Compass
Added: Feb 23
Changed: Aug 30
Last Checked: Aug 30 at 11:25PM
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 Keller Williams Realty-FM
Investment Insights
Based on property information with market context.
This 2,878-square-foot duplex, built in 2008, includes two residential units with separate entrances. Each side provides living space, a kitchen, and private bedrooms in a functional configuration designed to separate the households. Interior features include central electric systems, dishwashers, and disposals. The property also offers parking and manageable outdoor areas for resident use.
Located at 701 Parkplace Ridge in Princeton, the property is a short distance from US-380, local schools, shopping, and dining. Its brick and concrete exterior, concrete perimeter, and two-unit layout provide a straightforward residential income property configuration for an investor or owner-occupant.
Located at 701 Parkplace Ridge in Princeton, the property is a short distance from US-380, local schools, shopping, and dining. Its brick and concrete exterior, concrete perimeter, and two-unit layout provide a straightforward residential income property configuration for an investor or owner-occupant.
Key Highlights
- 2,878‑square‑foot duplex built in 2008
- Two units with separate entrances
- Each unit includes living areas, a kitchen, and private bedrooms
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
$43,763
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
8.34%
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%
$875,260
$875.3K
Cap Rate 7%
$625,186
$625.2K
Cap Rate 9%
$486,256
$486.3K
Market Conditions
NOI Build-Up for 2,878 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
$89.1K $30.96/SF
− Vacancy
−$9.5K −$3.31/SF
EGI
$79.6K $27.65/SF
− OpEx
−$35.8K −$12.44/SF
NOI
$43.8K $15.21/SF
Area
Collin County, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
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%
$875,260
Cap Rate 7%
$625,186
Cap Rate 9%
$486,256
Alternative Uses
Best Use
Multifamily LT 5
$722.9K
$632.6K – $843.4K
NOI $50,605 @ 7.0% cap · market cap 9.64%
Second Best
Apartment 5plus
$625.2K
$547.0K – $729.4K
NOI $43,763 @ 7.0% cap · market cap 8.34%
Theoretical Best
Industrial
$2.86M
$2.50M – $3.34M
NOI $200,183 @ 7.0% cap · market cap 38.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
Explore this area
Business Placement
Demographics for 75407, TX
25,738
Population
10,095
Households
2.5
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
49.9 sq mi
ZIP Area
516
Density / Sq Mi
$92,076
Median Household Income
$48,912
Median Earnings
$1,867
Median Rent
$307,500
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 - Two residential units offer private access, practical layouts, and convenient proximity to US-380, schools, shopping, and dining.
Where is this duplex located?
The property is located at 701 Parkplace Ridge Princeton, TX.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,878‑square‑foot duplex built in 2008; Two units with separate entrances; Each unit includes living areas, a kitchen, and private bedrooms
