Turnkey Full
For Sale
$350,000
756-752 Stribling Circle, Azle, TX 76020
Turnkey duplex with two identical 3-bedroom, 2-bath units, each with a 2-car garage and fenced backyards.
Property Size1,187 SF
Price / SF$294.86
Days on Market120
Property Features for 756-752 Stribling Circle
General Information
Standard status
Active
Size
1,187 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Amenities
Ceiling Fan(s), Central Air, Electric
Central, Electric
No
Carpet, Ceramic Tile, Luxury Vinyl Plank
Dishwasher, Disposal, Electric Range, Electric Water Heater, Vented Exhaust Fan
Window Coverings
Cable TV Available, Decorative Lighting, Eat-in Kitchen, High Speed Internet Available, Walk-In Closet(s)
Composition
One
Back Yard, Wood
Covered Patio/Porch
1
Slab
Assessor
2
Brick
Covered
Building Details
Year Built
2003
Buildings
1
Listing Agency:
Keller Williams Realty
Listed By:
Susie Fitzgerald · License #0433686
(817) 203-4919
Source:
Compass
Added: May 11
Changed: Aug 8
Last Checked: Jul 23 at 3:02AM
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
Investment Insights
Based on property information with market context.
This turnkey full duplex features two identical units, each offering a spacious 3-bedroom, 2-bathroom layout with a 2-car garage. Both homes include a 16x12 family room with vaulted ceilings and durable LVP flooring, along with an open-concept kitchen and breakfast area with ample storage and a walk-in pantry. Each unit also provides a primary suite with a private bath and generous walk-in closets.
Outside, tenants can enjoy expansive fenced backyards and a covered porch. A new roof is being installed May 11–12.
Located in Azle, the property is described as being just steps from Shady Grove Park, jogging trails, and Eagle Mountain Lake.
Outside, tenants can enjoy expansive fenced backyards and a covered porch. A new roof is being installed May 11–12.
Located in Azle, the property is described as being just steps from Shady Grove Park, jogging trails, and Eagle Mountain Lake.
Key Highlights
- Turnkey 2‑unit full duplex (2 identical units) with 3‑bedroom, 2‑bath layouts
- Each unit includes a 2‑car garage and fenced backyard
- Open‑concept kitchen with breakfast area and walk‑in pantry in each unit
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
$20,872
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
5.96%
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%
$417,440
$417.4K
Cap Rate 7%
$298,171
$298.2K
Cap Rate 9%
$231,911
$231.9K
Market Conditions
NOI Build-Up for 1,187 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
$33.2K $27.96/SF
− Vacancy
−$3.4K −$2.84/SF
EGI
$29.8K $25.12/SF
− OpEx
−$8.9K −$7.54/SF
NOI
$20.9K $17.58/SF
Area
Parker County, TX
Vacancy
10.16%
Lease Rate
$27.96 /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%
$417,440
Cap Rate 7%
$298,171
Cap Rate 9%
$231,911
Alternative Uses
Best Use
Multifamily LT 5
$298.2K
$260.9K – $347.9K
NOI $20,872 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$257.9K
$225.6K – $300.8K
NOI $18,050 @ 7.0% cap · market cap 5.16%
Theoretical Best
Industrial
$1.18M
$1.03M – $1.38M
NOI $82,563 @ 7.0% cap · market cap 23.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Explore this area
Business Placement
Demographics for 76020, TX
33,469
Population
13,355
Households
2.5
Avg Household Size
42
Median Age
20%
College-Educated
89%
High-School Grad
64.9 sq mi
ZIP Area
516
Density / Sq Mi
$91,000
Median Household Income
$48,559
Median Earnings
$1,246
Median Rent
$272,800
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?
Duplex - Turnkey duplex with two identical 3-bedroom, 2-bath units, each with a 2-car garage and fenced backyards.
Where is this duplex located?
The property is located at 756-752 Stribling Circle Azle, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Turnkey 2‑unit full duplex (2 identical units) with 3‑bedroom, 2‑bath layouts; Each unit includes a 2‑car garage and fenced backyard; Open‑concept kitchen with breakfast area and walk‑in pantry in each unit
