Modern Two-Unit
For Sale
$510,000
931 River Road, Fort Worth, TX 76114
Completed in 2024, the property offers open-concept interiors, private entrances, and contemporary finishes.
Property Size2,618 SF
Price / SF$194.81
Days on Market186
Property Features for 931 River Road
General Information
Standard status
Active
Size
2,618 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Units
Unit Mix
1 x 2BR/2.5BA, 1 x 3BR/2.5BA
Multifamily Units
2
Amenities
Ceiling Fan(s), Central Air, Electric, ENERGY STAR Qualified Equipment
Central, Electric, ENERGY STAR Qualified Equipment
Carpet, Luxury Vinyl Plank
Dishwasher, Disposal, Electric Cooktop, Electric Oven, Electric Range, Electric Water Heater, Microwave
Cable TV Available, Decorative Lighting, Eat-in Kitchen, Granite Counters, High Speed Internet Available, Kitchen Island, Open Floorplan, Pantry, Walk-In Closet(s)
No
Asphalt
Two
2
Slab
Builder
Concrete, Fiber Cement, Siding
Building Details
Year Built
2024
Buildings
2
Construction
modern-style
Listing Agency:
LPT Realty, LLC
(214) 499-2522
Listed By:
Spencer Hal · License #0752812
(214) 499-2522
Source:
Compass
Added: Feb 27
Changed: Aug 30
Last Checked: Aug 30 at 4:41PM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This 2024-built duplex at 931 River Road includes two separately entered residences with open-concept living areas and contemporary finishes. One unit provides 2 bedrooms and 2.5 bathrooms, while the other includes 3 bedrooms and 2.5 bathrooms. Both homes feature modern cabinetry, granite countertops, kitchen islands, pantries, luxury vinyl plank flooring, and generous living spaces. Appliances include dishwashers, disposals, electric cooktops, ovens, ranges, microwaves, and electric water heaters. Central electric air conditioning and ENERGY STAR Qualified Equipment are also included.
The property is minutes from NAS JRB, Trinity River walking and biking trails, and Fort Worth conveniences. It remains under builder warranty, and exterior materials include concrete, fiber cement, and siding over a slab foundation. Additional features include decorative lighting, ceiling fans, walk-in closets, high-speed internet availability, and private entries for each residence.
The property is minutes from NAS JRB, Trinity River walking and biking trails, and Fort Worth conveniences. It remains under builder warranty, and exterior materials include concrete, fiber cement, and siding over a slab foundation. Additional features include decorative lighting, ceiling fans, walk-in closets, high-speed internet availability, and private entries for each residence.
Key Highlights
- Built in 2024 and still under builder warranty
- Two‑unit duplex with private entries
- Unit mix includes 2 bedrooms and 2.5 bathrooms plus 3 bedrooms and 2.5 bathrooms
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
$45,836
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
8.99%
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%
$916,720
$916.7K
Cap Rate 7%
$654,800
$654.8K
Cap Rate 9%
$509,289
$509.3K
Market Conditions
NOI Build-Up for 2,618 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
$72.9K $27.84/SF
− Vacancy
−$7.4K −$2.83/SF
EGI
$65.5K $25.01/SF
− OpEx
−$19.6K −$7.50/SF
NOI
$45.8K $17.51/SF
Area
Fort Worth, TX
Vacancy
10.16%
Lease Rate
$27.84 /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%
$916,720
Cap Rate 7%
$654,800
Cap Rate 9%
$509,289
Alternative Uses
Best Use
Multifamily LT 5
$654.8K
$573.0K – $763.9K
NOI $45,836 @ 7.0% cap · market cap 8.99%
Second Best
Apartment 5plus
$568.7K
$497.6K – $663.5K
NOI $39,809 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$951.0K
$832.1K – $1.11M
NOI $66,571 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
Explore this area
Business Placement
Demographics for 76114, TX
26,676
Population
10,648
Households
2.5
Avg Household Size
36
Median Age
18%
College-Educated
76%
High-School Grad
9.7 sq mi
ZIP Area
2,750
Density / Sq Mi
$61,055
Median Household Income
$40,145
Median Earnings
$1,231
Median Rent
$195,400
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 - Completed in 2024, the property offers open-concept interiors, private entrances, and contemporary finishes.
Where is this duplex located?
The property is located at 931 River Road Fort Worth, TX.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Built in 2024 and still under builder warranty; Two‑unit duplex with private entries; Unit mix includes 2 bedrooms and 2.5 bathrooms plus 3 bedrooms and 2.5 bathrooms
