Building Details

Year Built 1955

Buildings 1

Listing Agency: FMI REALTY

Listed By: PAT FOURNIER 903-583-4471 · License #0356442 Show Phone

Source: Dfwareahousehunt

Added: Mar 23 Changed: Oct 1 Last Checked: Oct 14 at 11:33PM

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Investment Insights

Based on property information with market context.

This 2,320-square-foot triplex, built in 1955, contains three apartments with a two-bedroom, one-bath layout in each unit. Every apartment includes an eat-in kitchen, kitchen appliances including a refrigerator, washer and dryer connections, a covered front porch, and a rear wood deck. Off-street parking accommodates up to 6 cars.

The property is fully occupied, and interior showings require 24-hour notice. Located in Bells, Texas, the asset is positioned in a small-town residential setting with access to the local community and schools.

Key Highlights

• Three apartments, each with 2 bedrooms and 1 bathroom
• 2,320 SF triplex built in 1955
• Fully occupied property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,784

Cap Rate

4.57%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$355,680 $355.7K

Cap Rate 7%

$254,057 $254.1K

Cap Rate 9%

$197,600 $197.6K

Market Conditions

NOI Build-Up for 2,320 SF

Gross rent

$28.7K $12.36/SF

− Vacancy

−$3.3K −$1.41/SF

EGI

$25.4K $10.95/SF

− OpEx

−$7.6K −$3.29/SF

NOI

$17.8K $7.67/SF

Area

Grayson County, TX

Vacancy

11.40%

Lease Rate

$12.36 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$355,680

Cap Rate 7%

$254,057

Cap Rate 9%

$197,600

Alternative Uses

Best Use

Multifamily LT 5

$254.1K

$222.3K – $296.4K (±1% cap)

NOI $17,784 @ 7.0% cap · market cap 4.57%

Second Best

Apartment 5plus

$225.2K

$197.1K – $262.8K (±1% cap)

NOI $15,765 @ 7.0% cap · market cap 4.05%

Theoretical Best

Hotel Hospitality

$1.19M

$1.04M – $1.39M (±1% cap)

NOI $83,311 @ 7.0% cap · market cap 21.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Auto Repair Shop Electrical Service Real Estate Agency Auto Parts Store Pharmacy Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

55

Businesses Nearby

Explore this area Business Placement

Demographics for 75414, TX

3,507

Population

1,540

Households

2.3

Avg Household Size

42

Median Age

27%

College-Educated

95%

High-School Grad

49.5 sq mi

ZIP Area

71

Density / Sq Mi

$84,685

Median Household Income

$49,211

Median Earnings

$883

Median Rent

$223,100

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Triplex - Fully occupied multifamily property with resident-ready kitchens, laundry hookups, porches, decks, and off-street parking.

Where is this triplex located?

The property is located at 803 W Bells Blvd Bells, TX.

What is the asking price?

The asking price for this property is $389,500.

What are key features of this property?

This property features: Three apartments, each with 2 bedrooms and 1 bathroom; 2,320 SF triplex built in 1955; Fully occupied property