12-Unit Apartment
For Sale
$3,100,000
7718 Fm 1886, Azle, TX 76020
Fully leased residential community with one-story and loft-style homes, modern amenities, and two cleared expansion sites.
Property Size18,000 SF
Lot Size10.00 Acres
Price / SF$172.22
Days on Market208
Property Features for 7718 Fm 1886
General Information
Standard status
Active
Size
18,000 SF
Lot size
10.00 Acres
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
12
Building Details
Year Built
2022
Listing Agency:
exp Realty
(888) 519-7431
Listed By:
Becky Leebens (469) 333-1918 · License #0661426
Source:
Louis.magnoliarealtytemplebelton
Added: Feb 3
Changed: Aug 29
Last Checked: Aug 25 at 7:06AM
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 exp Realty
Investment Insights
Based on property information with market context.
Built in 2022, this 10-acre apartment community includes 12 homes arranged in a mix of single-level and loft-style residences. The one-story homes offer 1,270 square feet with three bedrooms, two bathrooms, kitchens, laundry areas, and dining space. Loft residences provide 1,670 square feet, three bedrooms, two bathrooms, and two-level layouts. Interior features include central air, electric service, multiple flooring types, dishwashers, ranges, refrigerators, microwaves, electric water heaters, and cable TV availability. Covered patios or porches, slab foundations, metal exteriors, and frame construction are also present.
The property is reported at 100% occupancy, with long-term tenants and minimum one-year lease terms. Two cleared sites are included for future residential or amenity development. The address is in Azle, Texas, at 7718 FM 1886.
The property is reported at 100% occupancy, with long-term tenants and minimum one-year lease terms. Two cleared sites are included for future residential or amenity development. The address is in Azle, Texas, at 7718 FM 1886.
Key Highlights
- 10‑acre apartment community with 12 homes
- 100% occupancy with long‑term tenants and minimum 1‑year lease terms
- Unit mix includes 1,270‑square‑foot one‑story homes and 1,670‑square‑foot loft residences
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
$273,708
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
8.83%
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%
$5,474,160
$5.5M
Cap Rate 7%
$3,910,114
$3.9M
Cap Rate 9%
$3,041,200
$3.0M
Market Conditions
NOI Build-Up for 18,000 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
$557.3K $30.96/SF
− Vacancy
−$59.6K −$3.31/SF
EGI
$497.7K $27.65/SF
− OpEx
−$223.9K −$12.44/SF
NOI
$273.7K $15.21/SF
Area
Parker County, TX
Vacancy
10.70%
Lease Rate
$30.96 /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%
$5,474,160
Cap Rate 7%
$3,910,114
Cap Rate 9%
$3,041,200
Alternative Uses
Best Use
Apartment 5plus
$3.91M
$3.42M – $4.56M
NOI $273,708 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$17.89M
$15.65M – $20.87M
NOI $1,252,013 @ 7.0% cap · market cap 40.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
23
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?
Apartment building - Fully leased residential community with one-story and loft-style homes, modern amenities, and two cleared expansion sites.
Where is this apartment building located?
The property is located at 7718 Fm 1886 Azle, TX.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 10‑acre apartment community with 12 homes; 100% occupancy with long‑term tenants and minimum 1‑year lease terms; Unit mix includes 1,270‑square‑foot one‑story homes and 1,670‑square‑foot loft residences
