13-Unit Multifamily
For Sale
$2,200,000
705 East Worth Street, Grapevine, TX 76051
The property includes updated plumbing, revised wiring, and a roof replacement completed in December 2025.
Property Size10,118 SF
Price / SF$217.43
Days on Market261
Property Features for 705 East Worth Street
General Information
Standard status
Active
Size
10,118 SF
Total Parking Spaces
26
Property subtype
Multi-Family / Apartment/5Plex+
Additional Details
Multifamily Units
13
Amenities
Ceiling Fan(s), Central Air, Electric
Central, Electric
Carpet, Vinyl
Dishwasher, Disposal, Electric Range, Refrigerator
Window Coverings
Cable TV Available, High Speed Internet Available
No
Composition
Two
2
Slab
Public Records
13
Brick, Siding
Building Details
Year Built
1963
Buildings
3
Listing Agency:
Bray Real Estate-Ft Worth
(682) 847-1396
Listed By:
Kelsey Cretsinger · License #0802165
(682) 847-1396
Source:
Compass
Added: Dec 13, 2025
Changed: Aug 30
Last Checked: Mar 25 at 2:45PM
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 Bray Real Estate-Ft Worth
Investment Insights
Based on property information with market context.
This 13-unit multifamily property was built in 1972 and is located within Grapevine’s Historic District. Building upgrades include PVC plumbing and copper/aluminum wiring, along with a roof replacement completed in December 2025.
The property is situated in Grapevine, Texas, within the Grapevine submarket. Rental operations are described as stabilized, providing an established operating history for the asset.
The property is situated in Grapevine, Texas, within the Grapevine submarket. Rental operations are described as stabilized, providing an established operating history for the asset.
Key Highlights
- 13‑unit multifamily property
- Built in 1972
- PVC plumbing installed
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
$66,261
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
3.01%
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%
$1,325,220
$1.3M
Cap Rate 7%
$946,586
$946.6K
Cap Rate 9%
$736,233
$736.2K
Market Conditions
NOI Build-Up for 10,118 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
$136.6K $13.50/SF
− Vacancy
−$16.1K −$1.59/SF
EGI
$120.5K $11.91/SF
− OpEx
−$54.2K −$5.36/SF
NOI
$66.3K $6.55/SF
Area
Tarrant County, TX
Vacancy
11.80%
Lease Rate
$13.50 /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%
$1,325,220
Cap Rate 7%
$946,586
Cap Rate 9%
$736,233
Alternative Uses
Best Use
Apartment 5plus
$946.6K
$828.3K – $1.10M
NOI $66,261 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.56M
$3.11M – $4.15M
NOI $249,146 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
1,960
Businesses Nearby
Explore this area
Business Placement
Demographics for 76051, TX
49,969
Population
22,529
Households
2.2
Avg Household Size
39
Median Age
57%
College-Educated
95%
High-School Grad
22.3 sq mi
ZIP Area
2,241
Density / Sq Mi
$111,193
Median Household Income
$61,522
Median Earnings
$1,806
Median Rent
$467,800
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?
Multifamily property - The property includes updated plumbing, revised wiring, and a roof replacement completed in December 2025.
Where is this multifamily property located?
The property is located at 705 East Worth Street Grapevine, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 13‑unit multifamily property; Built in 1972; PVC plumbing installed
