Two-Story Duplex with Fenced
For Sale
$499,000
912 Drexel Street Unit A & B, McKinney, TX 75069
Mirrored layouts include living areas, eat-in kitchens, and one vacant unit for occupancy or leasing.
Property Size1,508 SF
Price / SF$330.90
Days on Market154
Property Features for 912 Drexel Street Unit A & B
General Information
Standard status
Active
Size
1,508 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Additional Details
Multifamily Units
2
Amenities
Central Air, Electric
Central, Electric
Carpet, Ceramic Tile
Dishwasher, Disposal, Electric Range
High Speed Internet Available, Walk-In Closet(s), Wired for Data
No
Composition
Two
Back Yard, Fenced, Gate, High Fence, Wood
Rain Gutters
2
Slab
Public Records
Brick, Concrete
Building Details
Year Built
2016
Buildings
1
Stories
2
Listing Agency:
Keller Williams NO. Collin Cty
Listed By:
Michael Ripperger · License #0430227
(214) 498-4558
Source:
Compass
Added: Apr 7
Changed: Aug 31
Last Checked: Aug 29 at 8:44PM
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 Keller Williams NO. Collin Cty
Investment Insights
Based on property information with market context.
This 2016 duplex at 912 Drexel Street presents two mirrored residences in a two-story configuration. Each layout includes 3 bedrooms, 2.5 baths, a living room, an eat-in kitchen, and walk-in closet space. The property measures 1,508 square feet and includes a 1-car garage, central electric air conditioning, electric heating, a dishwasher, disposal, and electric range. Ceramic tile and carpet are listed among the interior finishes, with brick and concrete exterior construction over a slab foundation.
One unit is vacant, while the other unit remains part of the duplex configuration. Exterior features include a fenced backyard with a gate, high wood fencing, rain gutters, and a connection to a neighborhood park behind the property. Historic Downtown McKinney and relocated city offices are identified as nearby context. The address is 912 Drexel Street, Unit A & B, McKinney, TX 75069.
One unit is vacant, while the other unit remains part of the duplex configuration. Exterior features include a fenced backyard with a gate, high wood fencing, rain gutters, and a connection to a neighborhood park behind the property. Historic Downtown McKinney and relocated city offices are identified as nearby context. The address is 912 Drexel Street, Unit A & B, McKinney, TX 75069.
Key Highlights
- Duplex with two mirrored layouts and 3 bedrooms and 2.5 baths per unit
- 1,508 square feet with 1‑car garage
- One unit is vacant and available for occupancy or leasing
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
$29,650
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
5.94%
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%
$593,000
$593.0K
Cap Rate 7%
$423,571
$423.6K
Cap Rate 9%
$329,444
$329.4K
Market Conditions
NOI Build-Up for 1,508 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
$47.6K $31.56/SF
− Vacancy
−$5.2K −$3.47/SF
EGI
$42.4K $28.09/SF
− OpEx
−$12.7K −$8.43/SF
NOI
$29.7K $19.66/SF
Area
McKinney, TX
Vacancy
11.00%
Lease Rate
$31.56 /SF/Yr
Expense Ratio
30.00%
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%
$593,000
Cap Rate 7%
$423,571
Cap Rate 9%
$329,444
Alternative Uses
Best Use
Multifamily LT 5
$423.6K
$370.6K – $494.2K
NOI $29,650 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$374.6K
$327.7K – $437.0K
NOI $26,219 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$424.0K
$371.0K – $494.6K
NOI $29,677 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,448
Businesses Nearby
Explore this area
Business Placement
Demographics for 75069, TX
39,084
Population
16,958
Households
2.3
Avg Household Size
38
Median Age
37%
College-Educated
88%
High-School Grad
33.7 sq mi
ZIP Area
1,160
Density / Sq Mi
$82,804
Median Household Income
$42,816
Median Earnings
$1,530
Median Rent
$413,700
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?
Duplex - Mirrored layouts include living areas, eat-in kitchens, and one vacant unit for occupancy or leasing.
Where is this duplex located?
The property is located at 912 Drexel Street Unit A & B McKinney, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Duplex with two mirrored layouts and 3 bedrooms and 2.5 baths per unit; 1,508 square feet with 1‑car garage; One unit is vacant and available for occupancy or leasing
