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    1000 Sparrow Cv Troy, TX 76579

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    For Sale
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    26 Duplexes, 3/2, High ROI Potential

    Property size:
    1,332 SF

    Property Features for 1000 Sparrow Cv

    General Information

    Property type
    Multifamily properties
    Square Feet
    1,332 SF

    Building Details

    Year Built
    2019
    Buildings
    26
    Stories
    1

    We can help!

    Listing Contact
    Bobby Spradley
    Bobby Spradley

    Listing Agency: Spradley Properties Listing Agent: Bobby Spradley

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional investment opportunity presents a portfolio of 26 duplexes located in Troy, Texas, offering a compelling blend of immediate income and future growth potential. The portfolio comprises twenty-five existing duplexes, each featuring three bedrooms, two full bathrooms, and a one-car garage. These units boast high-quality finishes including stained concrete floors and granite countertops, enhancing their appeal to renters. Each duplex also includes a privacy fenced backyard complete with a sprinkler system. Adding to the investment's strength, eight additional duplexes are currently under construction, scheduled for completion in 2023. These newly constructed units will further increase the portfolio's rental income and overall value. The existing duplexes range in size from 1,332 to 66,096 square feet, reflecting the variety within the portfolio. The property is situated at 1000 Sparrow Cove, Troy, TX 76579, in Bell County. While individual duplexes may be purchased separately, the eight duplexes under construction are only available as part of a purchase of the entire portfolio. This presents a unique opportunity for investors seeking a substantial multifamily investment in a thriving Texas market. The single-story buildings offer ease of maintenance and management, contributing to a potentially strong return on investment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Map

    City
    Troy
    County
    Bell
    State
    Texas
    Longitude
    -97.3127799
    Latitude
    31.2102736

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    FAQs

    What type of property is this?
    Multifamily property - 26 Duplexes, 3/2, High ROI Potential
    Where is this multifamily property located?
    The property is located at 1000 Sparrow Cv Troy, TX.
    What are key features of this property?
    This property features: 26-duplex portfolio in Troy, TX, offering immediate income and future growth.; 25 existing duplexes, each with 3 bedrooms, 2 baths, 1-car garage, stained concrete floors, granite countertops, and fenced backyards with sprinklers.; 8 additional duplexes under construction, completing in 2023.
    (254) 771-5111 Call to check price and availability
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    1000 Sparrow Cv Troy, TX 76579
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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.

    More about this property
    1000 Sparrow Cv Troy, TX 76579
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bobby Spradley
    Bobby Spradley
    Real Estate License ID: 0464664
    (254) 771-5111 (254) 541-2533
    Learn more
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