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    Renovated Multi-Unit Investment Property Title is generated by Realmo AI

    Tbd E Reno Road, Reno, TX 76020

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    Claim this Listing
    New
    For Sale
    $789,900

    Multiple Single Units - Reno, TX

    Lot size:
    1.06 Acres
    Added:
    May 14, 2026
    Days on Market:
    4
    Last Refresh:
    May 17 at 3:06 am

    Property Features for Tbd E Reno Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    10
    Bathrooms
    11
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    8
    Parking features
    Carport, Covered, Driveway
    Interior features
    Decorative Lighting, Eat-in Kitchen, Granite Counters, High Speed Internet Available, Open Floorplan
    Exterior features
    Dog Run, Rain Gutters, Lighting, Storage, Fence
    Fencing
    Fenced
    Appliances
    Dishwasher, Garbage Disposer, Microwave, Range, Washer
    Standard status
    Active
    APN
    R000129714
    Lot size
    1.06 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Electric

    Building Details

    Year built
    1983
    Floors in Building
    2
    Flooring type
    Carpet, Vinyl
    Building materials
    Board & Batten Siding
    Roof type
    Composition, Metal
    Architectural style
    Other
    Additional Structures
    Kennel/Dog Run, Storage

    We can help!

    Listing Contact
    Mark Costello
    Mark Costello

    Listing agent Mark Costello License #0666230

    Listing office The Costello Group, LLC 3203 Deer Path Ln, Weatherford, TX

    Listing date May 14, 2026

    MLS# 21113573 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

    • Turnkey, fully renovated multi‑unit investment property with zero deferred maintenance.
    • Four income‑producing units (two single‑family homes and one duplex) with potential for owner‑occupancy.
    • High‑quality renovations with new roofs, septic systems, HVAC, kitchens, and baths.
    • Each unit has a private fenced backyard, dedicated driveway parking, and covered carport spaces.
    • Individual water and electric meters for each unit, plus exterior storage buildings.
    • Potential for expansion with an adjoining parcel available, including a large shop with utilities and three‑phase electric.

    Overview

    This multi-unit investment property in Reno, TX, features four income-producing units across three separate homes: two single-family residences and one duplex. Situated on one acre, the property has been fully renovated with upgrades, including replacements of roofs, septic systems, HVAC, insulation, flooring, kitchens, baths, and paint. Each unit includes a private fenced backyard, dedicated driveway parking, and two covered carport spaces. Individual water and electric meters are installed for all units, and each dwelling has its own exterior storage building. The property has three units leased and one single-family home vacant, previously rented for $1,850 per month. Located within Springtown ISD, the property offers a quiet, small-town feel with access to urban conveniences. An adjoining parcel may also be available for purchase and includes utilities, three-phase electric service, and an approx. 6,400 sq ft shop with separate work and office areas, including restrooms, offering additional income potential or space for a business operation. Situated on a corner lot, the expansion option provides accessibility for contractors, business owners, or investors looking to grow their residential or commercial portfolio.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Reno
    County
    Lamar
    State
    Texas
    Longitude
    -97.556
    Latitude
    32.912

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    FAQs

    What type of property is this?
    Multifamily property - Turnkey investment property with four units on one acre.
    Where is this multifamily property located?
    The property is located at Tbd E Reno Road Reno, TX.
    What is the asking price?
    The asking price for this property is $789,900.
    What are key features of this property?
    This property features: Turnkey, fully renovated multi‑unit investment property with zero deferred maintenance.; Four income‑producing units (two single‑family homes and one duplex) with potential for owner‑occupancy.; **High‑quality renovations with new roofs, septic systems, HVAC, kitchens, and baths.**
    (817) 662-2716
    We can help!
    Listing Contact
    Mark Costello
    Mark Costello
    Real Estate License ID: 0666230
    Learn More
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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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