Duplex with Attached
For Sale
$560,000
9265 & 9267 Meandering Drive, North Richland Hills, TX 76182
Interior amenities include eat-in kitchens, electric appliances, and wood-burning fireplaces.
Property Size2,540 SF
Price / SF$220.47
Days on Market39
Property Features for 9265 & 9267 Meandering Drive
General Information
Standard status
Active
Size
2,540 SF
Total Parking Spaces
2
Property subtype
Residential Income
Net Operating Income
$31,077
Taxes and HOA fees
Annual Taxes
$4,853
Amenities
Electric
Dishwasher, Electric Cooktop, Electric Oven, Microwave, Refrigerator
Eat-in Kitchen, High Speed Internet
Living Room, Wood Burning
Wood
Garage Faces Front, Shared Driveway, Side By Side, Attached
Building Details
Building Size
2,540 SF
Year Built
1987
Buildings
1
Listing Agency:
Century 21 Mike Bowman, Inc.
Listed By:
Melanie Hunt · License #0295970
(817) 929-3181
Source:
Evrealestate
Added: Aug 20
Changed: Sep 26
Last Checked: Sep 26 at 3:25PM
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 Century 21 Mike Bowman, Inc.
Investment Insights
Based on property information with market context.
This North Richland Hills duplex contains 2,540 square feet and was built in 1987. Interior features include eat-in kitchens, electric cooktops and ovens, dishwashers, microwaves, refrigerators, and living rooms with wood-burning fireplaces. High-speed internet is also listed among the interior features.
The property has a wood exterior and a front-facing attached garage. A shared driveway serves the side-by-side configuration. The addresses are 9265 and 9267 Meandering Drive in Tarrant County.
The property has a wood exterior and a front-facing attached garage. A shared driveway serves the side-by-side configuration. The addresses are 9265 and 9267 Meandering Drive in Tarrant County.
Key Highlights
- 2,540 square feet
- Built in 1987
- Eat‑in kitchens with electric cooktops, ovens, dishwashers, microwaves, and refrigerators
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
$19,134
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
3.42%
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%
$382,680
$382.7K
Cap Rate 7%
$273,343
$273.3K
Cap Rate 9%
$212,600
$212.6K
Market Conditions
NOI Build-Up for 2,540 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
$30.8K $12.12/SF
− Vacancy
−$3.5K −$1.36/SF
EGI
$27.3K $10.76/SF
− OpEx
−$8.2K −$3.23/SF
NOI
$19.1K $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 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%
$382,680
Cap Rate 7%
$273,343
Cap Rate 9%
$212,600
Alternative Uses
Best Use
Multifamily LT 5
$273.3K
$239.2K – $318.9K
NOI $19,134 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$237.6K
$207.9K – $277.2K
NOI $16,634 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$893.5K
$781.8K – $1.04M
NOI $62,545 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Interior amenities include eat-in kitchens, electric appliances, and wood-burning fireplaces.
Where is this duplex located?
The property is located at 9265 & 9267 Meandering Drive North Richland Hills, TX.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: 2,540 square feet; Built in 1987; Eat‑in kitchens with electric cooktops, ovens, dishwashers, microwaves, and refrigerators
