Quadplex with Updated
New
For Sale
$545,000
7413 Bogart Drive, North Richland Hills, TX 76180
Four-unit residential property with three recently refreshed residences and a new roof.
Property Size3,068 SF
Days on Market7
Property Features for 7413 Bogart Drive
General Information
Standard status
Active
Size
3,068 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,611
Building Details
Building Size
3,068 SF
Year Built
1983
Listing Agency:
Great Real Estate, Inc.
Listed By:
Enis Ida · License #0789369
(214) 532-4009
Source:
Soldbywes
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 14 at 11:22AM
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 Great Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 1983 quadplex at 7413 Bogart Drive includes four residential units, three of which have been recently updated. Each residence offers a practical layout, while the property’s roof was installed in August 2024. Residents are responsible for their own utilities.
The property is within walking distance of Fort Worth Christian School and a short drive from Richland High School. Its North Richland Hills location places the four-unit residential asset near both schools and established residential surroundings.
The property is within walking distance of Fort Worth Christian School and a short drive from Richland High School. Its North Richland Hills location places the four-unit residential asset near both schools and established residential surroundings.
Key Highlights
- Four‑unit quadplex built in 1983
- Three of four units have been recently updated
- Roof installed in August 2024
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
$23,111
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
4.24%
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%
$462,220
$462.2K
Cap Rate 7%
$330,157
$330.2K
Cap Rate 9%
$256,789
$256.8K
Market Conditions
NOI Build-Up for 3,068 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
$37.2K $12.12/SF
− Vacancy
−$4.2K −$1.36/SF
EGI
$33.0K $10.76/SF
− OpEx
−$9.9K −$3.23/SF
NOI
$23.1K $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%
$462,220
Cap Rate 7%
$330,157
Cap Rate 9%
$256,789
Alternative Uses
Best Use
Multifamily LT 5
$330.2K
$288.9K – $385.2K
NOI $23,111 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$287.0K
$251.2K – $334.9K
NOI $20,092 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$1.08M
$944.3K – $1.26M
NOI $75,546 @ 7.0% cap · market cap 13.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
Explore this area
Business Placement
Demographics for 76180, TX
37,087
Population
16,138
Households
2.3
Avg Household Size
37
Median Age
33%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
3,988
Density / Sq Mi
$78,688
Median Household Income
$42,984
Median Earnings
$1,553
Median Rent
$286,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property with three recently refreshed residences and a new roof.
Where is this quadplex located?
The property is located at 7413 Bogart Drive North Richland Hills, TX.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1983; Three of four units have been recently updated; Roof installed in August 2024
