Two-Bedroom Duplex with
For Sale
$295,000
7510 Hanover Lane, North Richland Hills, TX 76182
Both residences are occupied by long-term tenants and include practical, low-maintenance interior finishes.
Property Size2,154 SF
Price / SF$136.95
Days on Market177
Property Features for 7510 Hanover Lane
General Information
Standard status
Active
Size
2,154 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Full Duplex
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
Central Air
Central
No
Ceramic Tile
Electric Range
Eat-in Kitchen
Composition
One
1
Slab
Public Records
2
Brick
Building Details
Year Built
1984
Buildings
1
Listing Agency:
Remax Preferred
Listed By:
Jason Thomson · License #0488798
(903) 278-2901
Source:
Compass
Added: Mar 15
Changed: Aug 31
Last Checked: Aug 30 at 9:40AM
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 Remax Preferred
Investment Insights
Based on property information with market context.
This 2,154-square-foot duplex, built in 1984, contains two residences with matching layouts of 2 bedrooms and 2 bathrooms each. Both units include rear carport parking, central air, ceramic tile, an electric range, and an eat-in kitchen. Brick exterior construction and slab foundation complete the physical improvements.
The property is located at 7510 Hanover Lane in North Richland Hills, Texas. Both sides are currently occupied by long-term tenants, supporting continued residential income use. The two-unit configuration also provides flexibility for an owner seeking separate living arrangements within the same property.
The property is located at 7510 Hanover Lane in North Richland Hills, Texas. Both sides are currently occupied by long-term tenants, supporting continued residential income use. The two-unit configuration also provides flexibility for an owner seeking separate living arrangements within the same property.
Key Highlights
- 2,154‑square‑foot duplex built in 1984
- Two units, each with 2 bedrooms and 2 bathrooms
- Both sides currently occupied by long‑term tenants
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
$16,226
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
5.50%
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%
$324,520
$324.5K
Cap Rate 7%
$231,800
$231.8K
Cap Rate 9%
$180,289
$180.3K
Market Conditions
NOI Build-Up for 2,154 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
$26.1K $12.12/SF
− Vacancy
−$2.9K −$1.36/SF
EGI
$23.2K $10.76/SF
− OpEx
−$7.0K −$3.23/SF
NOI
$16.2K $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%
$324,520
Cap Rate 7%
$231,800
Cap Rate 9%
$180,289
Alternative Uses
Best Use
Multifamily LT 5
$231.8K
$202.8K – $270.4K
NOI $16,226 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$201.5K
$176.3K – $235.1K
NOI $14,106 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$757.7K
$663.0K – $884.0K
NOI $53,040 @ 7.0% cap · market cap 17.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Explore this area
Business Placement
Demographics for 76182, TX
31,117
Population
11,845
Households
2.6
Avg Household Size
43
Median Age
40%
College-Educated
95%
High-School Grad
8.7 sq mi
ZIP Area
3,577
Density / Sq Mi
$119,722
Median Household Income
$60,589
Median Earnings
$1,821
Median Rent
$364,100
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 - Both residences are occupied by long-term tenants and include practical, low-maintenance interior finishes.
Where is this duplex located?
The property is located at 7510 Hanover Lane North Richland Hills, TX.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 2,154‑square‑foot duplex built in 1984; Two units, each with 2 bedrooms and 2 bathrooms; Both sides currently occupied by long‑term tenants
