2-Unit Residential
7520/7522 Hanover Lane, North Richland Hills, TX 76182
For Sale
New
$420,000
ResidentialIncome, North Richland Hills, TX
Property Size2,154 SF
Lot Size0.22 Acres
Price / SF$194.99
Days on Market4
Property Features for 7520/7522 Hanover Lane
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Interior features
Fireplace
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
Bluebonnet Realty & Property M
Listed By:
Ronald Koehn · License TX #0493802
(817) 431-4193
Added: Nov 7
Changed: Nov 9
Last Checked: Nov 10 at 10:06AM
MLS# 21431143
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This brick duplex contains 2,154 square feet across two residences, each configured with two bedrooms and two full bathrooms. Interior finishes include ceramic tile in kitchens and baths, vinyl plank flooring in living areas, and carpet in one unit’s bedrooms. Kitchens include electric ranges, dishwashers, built-in microwaves, and disposals. Each side has full-size washer and dryer hookups. One air-conditioning unit was replaced in 2025; the other residence has a newer interior unit.
The property occupies a 0.224-acre lot and has covered carport parking. Public water and sewer serve the property. Tenants have occupied the units since 2016 and 2019, and leases run through March 2027.
The property occupies a 0.224-acre lot and has covered carport parking. Public water and sewer serve the property. Tenants have occupied the units since 2016 and 2019, and leases run through March 2027.
Key Highlights
- Two residences, each with 2 bedrooms and 2 full bathrooms
- 2,154 square feet on a 0.224‑acre lot
- Tenants in place since 2016 and 2019; leases expire March 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,226
Cap Rate
3.86%
Suggested Prices Based on Cap Rates
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
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 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 3.86%
Second Best
Apartment 5plus
$201.5K
$176.3K – $235.1K
NOI $14,106 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$757.7K
$663.0K – $884.0K
NOI $53,040 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
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
$364,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in Tarrant County, TX
Properties on Market for Duplexes in Tarrant County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers a two-bedroom, two-bath layout, with kitchen appliances and full-size laundry hookups.
Where is this duplex located?
The property is located at 7520/7522 Hanover Lane North Richland Hills, TX.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 2 full bathrooms; 2,154 square feet on a 0.224‑acre lot; Tenants in place since 2016 and 2019; leases expire March 2027
