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    Updated 4-Plex Investment Property Title is generated by Realmo AI

    872 W Vanderbilt Street, Stephenville, TX 76401

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    New
    For Sale
    $665,000

    MULTI_FAMILY - Stephenville, TX

    Lot size:
    0.25 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 2:06 pm

    Property Features for 872 W Vanderbilt Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    8
    Bathrooms
    8
    Rooms
    Bedroom 1, Bedroom 6, Bedroom 4, Bedroom 3, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 6, Bedroom 2, Bathroom 5, Bathroom 8, Bedroom 7, Bedroom 5, Bedroom 8, Bathroom 7, Bathroom 1
    Parking
    8
    Interior features
    GraniteCounters
    Appliances
    Dishwasher, ElectricRange, ElectricWaterHeater, Microwave, Refrigerator, Washer
    Standard status
    Active
    APN
    R000073712
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 0.247 S5400 PARK PLACE ADDITION BLOCK
    Tax Annual Amount
    10224

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    2008
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Vinyl, Laminate
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Josey Key
    Josey Key

    Listing agent Josey Key

    Listing office Majestic Realty Group Stephenville, TX

    Listing date Jun 3, 2026

    MLS# 21289673 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

    • Updated 4‑plex built in 2008 with four units, each offering 2 bedrooms and 2 full bathrooms
    • Granite countertops and luxury vinyl plank (vinyl/laminate) flooring, plus fresh paint reported throughout the units
    • Central heating and central air conditioning
    • Each unit includes a refrigerator and stackable washer and dryer
    • 8 dedicated off‑street parking spaces in front and a shared large fenced backyard
    • Utilities and services include public sewer

    Overview

    This updated 4-plex offers four matching residential units, each featuring 2 bedrooms and 2 full bathrooms. Improvements and refreshed finishes include granite countertops, luxury vinyl plank flooring, and fresh paint throughout. The layouts are designed for straightforward, comfortable living, and every unit is equipped with a refrigerator plus a stackable washer and dryer to add daily convenience for residents. Outside, the property includes a shared large fenced backyard that gives tenants a defined outdoor space, and the front provides 8 dedicated parking spaces for off-street parking.

    Located within walking distance of Tarleton State University, the property is positioned to serve steady demand from students, faculty, and local tenants. The area also offers convenient access to campus-related destinations, with nearby dining, shopping, and entertainment described as just minutes away.

    For investors, this asset combines an updated interior package with practical resident amenities that can support long-term tenant appeal. The student-friendly unit mix and in-unit laundry make it well-suited for a rental strategy focused on continuity and ease of leasing, while the shared fenced yard and dedicated parking help differentiate the property in a multifamily rental market.
    Property Profile Location Intelligence

    Current Use by Public Records

    Semper Fi Striping ... General Contractor

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Stephenville
    County
    Erath
    State
    Texas
    Longitude
    -98.210474
    Latitude
    32.220723

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    FAQs

    What type of property is this?
    Quadplex - Updated four-unit with modern finishes, in-unit laundry, and off-street parking near Tarleton State University.
    Where is this quadplex located?
    The property is located at 872 W Vanderbilt Street Stephenville, TX.
    What is the asking price?
    The asking price for this property is $665,000.
    What are key features of this property?
    This property features: Updated 4‑plex built in 2008 with four units, each offering 2 bedrooms and 2 full bathrooms; Granite countertops and luxury vinyl plank (vinyl/laminate) flooring, plus fresh paint reported throughout the units; Central heating and central air conditioning
    (254) 413-5445
    We can help!
    Listing Contact
    Josey Key
    Josey Key
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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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