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    Craftsman Duplex Income Property Title is generated by Realmo AI

    801-901 S Kiowa Street, Wheeler, TX 79096

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    Claim this Listing
    For Sale
    $3,750,000

    MULTI_FAMILY - Wheeler, TX

    Lot size:
    1.72 Acres
    Added:
    Mar 29, 2026
    Days on Market:
    68
    Last Refresh:
    Jun 4 at 3:06 am

    Property Features for 801-901 S Kiowa Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    32
    Bathrooms
    32
    Rooms
    Bedroom 12, Bedroom 32, Bathroom 29, Bedroom 1, Bedroom 6, Bedroom 20, Bedroom 27, Bedroom 4, Bedroom 18, Bedroom 24, Bedroom 17, Bedroom 2, Bathroom 5, Bathroom 8, Bathroom 27, Bedroom 28, Bedroom 16, Bathroom 22, Bathroom 32, Bathroom 21, Bathroom 10, Bedroom 3, Bedroom 31, Bathroom 2, Bathroom 3, Bedroom 30, Bedroom 10, Bathroom 4, Bathroom 13, Bathroom 17, Bathroom 18, Bathroom 25, Bedroom 11, Bedroom 19, Bedroom 29, Bedroom 5, Bedroom 8, Bathroom 19, Bathroom 11, Bathroom 16, Bedroom 9, Bedroom 26, Bathroom 24, Bedroom 13, Bedroom 14, Bathroom 6, Bathroom 15, Bathroom 26, Bathroom 20, Bedroom 23, Bathroom 9, Bedroom 21, Bedroom 15, Bathroom 31, Bathroom 23, Bathroom 1, Bathroom 28, Bathroom 14, Bathroom 12, Bedroom 25, Bedroom 7, Bedroom 22, Bathroom 30, Bathroom 7
    Parking
    24
    Parking features
    Driveway, Garage
    Interior features
    DoubleVanity, HighSpeedInternet, MultipleStaircases, WalkInClosets
    Exterior features
    PrivateEntrance, PrivateYard, RainGutters
    Fireplace
    1
    Appliances
    Dishwasher, ElectricCooktop, ElectricOven, ElectricWaterHeater, Disposal, Microwave, Refrigerator
    Standard status
    Active
    APN
    75736,75746,75744,75745,75746,75462
    Lot size
    1.72 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2012
    Floors in Building
    2
    Number of units
    12
    Flooring type
    Carpet, Tile, Concrete
    Building materials
    FiberCement
    Roof type
    Composition, Shingle

    We can help!

    Listing Contact
    Chip Hill

    Listing agent Chip Hill License #0509380

    Listing office RiverCrest Realty Wheeler, TX

    Listing date Mar 29, 2026

    MLS# 21061984 Listing URL

    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.

    HighLights

    • Six duplexes in Wheeler, TX, with 8 three‑bedroom rental units and 4 two‑bedroom units
    • Each unit includes a garage and a large fenced‑in back yard with a private entrance and private yard
    • Built in 2012; craftsman‑style duplex construction with fiber cement materials
    • Energy‑efficient foam insulated homes; central air with electric heating
    • Appliances include dishwasher, electric cooktop and oven, microwave, refrigerator, disposal, and electric water heater
    • Interior features include double vanities, walk‑in closets, high‑speed internet, and multiple staircases; tile and concrete flooring

    Overview

    A craftsman-style income property made up of six duplexes, currently operating as a rental community. Each unit is described as an energy-efficient foam insulated home, with its own garage and a large fenced-in back yard. The rental mix includes eight 3-bedroom units and four 2-bedroom units, providing flexibility for tenants with different space needs.

    Located at 801-901 S Kiowa Street in Wheeler, Texas (79096). The property is positioned for renters who want a quieter alternative to the city while still having a conventional residential setup with dedicated outdoor space.

    This configuration can fit investors seeking a manageable multifamily portfolio with consistent unit amenities across the duplex layout. The predominance of 3-bedroom rentals may appeal to households looking for more space, while the 2-bedroom units broaden the leasing audience. With multiple buildings under one ownership group, the property may also appeal to buyers who prefer consolidating income streams into a single residential asset.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Pharmacy Hair Salon Auto Repair Shop Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wheeler
    County
    Wheeler
    State
    Texas
    Longitude
    -100.276947
    Latitude
    35.4398

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    FAQs

    What type of property is this?
    Duplex - Six craftsman-style duplexes offer garages, fenced back yards, and energy-efficient construction in a small-town rental setting.
    Where is this duplex located?
    The property is located at 801-901 S Kiowa Street Wheeler, TX.
    What is the asking price?
    The asking price for this property is $3,750,000.
    What are key features of this property?
    This property features: Six duplexes in Wheeler, TX, with 8 three‑bedroom rental units and 4 two‑bedroom units; Each unit includes a garage and a large fenced‑in back yard with a private entrance and private yard; Built in 2012; craftsman‑style duplex construction with fiber cement materials
    (806) 334-2108
    We can help!
    Listing Contact
    Chip Hill
    Real Estate License ID: 0509380
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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