Renovated Duplex with
New
For Sale
$440,000
7724 Jennifer Lane, North Richland Hills, TX 76182
Two separate residences offer private outdoor space, updated kitchens and baths, and covered parking.
Property Size2,154 SF
Price / SF$204.27
Days on Market4
Property Features for 7724 Jennifer Lane
General Information
Standard status
Active
Size
2,154 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
fenced backyard
exterior storage room
vaulted beamed ceilings
wood burning fireplace
updated tile flooring
lighting
paint
stainless appliances
updated baths
Cable TV Available
Eat-In Kitchen
Vaulted Ceiling(S)
Building Details
Building Size
2,154 SF
Year Built
1984
Buildings
1
Stories
1
Units
2
Listing Agency:
Berkshire HathawayHS PenFed TX
(817) 442-5345
Listed By:
Holly Warriner · License #0440129
(817) 291-2884
Source:
Beallandcompanyrealtors
Added: Oct 19
Changed: Oct 22
Last Checked: Oct 22 at 2:28PM
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 Berkshire HathawayHS PenFed TX
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Investment Insights
Based on property information with market context.
This 1984 duplex contains two residences, each with 2 bedrooms, 2 bathrooms, a carport, a fenced backyard, and exterior storage. Both interiors have vaulted, beamed ceilings, wood-burning fireplaces, updated tile flooring, lighting, paint, kitchens, and baths. The 7724 kitchen has quartz countertops; the 7726 kitchen has laminate countertops with a faux-granite appearance. The roof was replaced in May 2024, and the air-conditioning system in one unit was replaced in 2021.
The property is less than half a mile from the Smithfield Tex-Rail Station, with rail service toward Fort Worth and DFW Airport.
The property is less than half a mile from the Smithfield Tex-Rail Station, with rail service toward Fort Worth and DFW Airport.
Key Highlights
- Two residences, each with 2 bedrooms and 2 bathrooms
- Each side includes a carport, fenced backyard, and exterior storage room
- Roof replacement completed in May 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,226
Cap Rate
3.69%
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 3.69%
Second Best
Apartment 5plus
$201.5K
$176.3K – $235.1K
NOI $14,106 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$757.7K
$663.0K – $884.0K
NOI $53,040 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer private outdoor space, updated kitchens and baths, and covered parking.
Where is this duplex located?
The property is located at 7724 Jennifer Lane North Richland Hills, TX.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 2 bathrooms; Each side includes a carport, fenced backyard, and exterior storage room; Roof replacement completed in May 2024
