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    Luxury Triplex with Private Backyards Title is generated by Realmo AI

    6844-6846-6848 Florance Drive, Midlothian, TX 76065

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    For Sale
    $975,000

    MULTI_FAMILY - Midlothian, TX

    Property size:
    1,838 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $530/SF
    Added:
    Mar 11, 2026
    Days on Market:
    86
    Last Refresh:
    Jun 4 at 5:06 pm

    Property Features for 6844-6846-6848 Florance Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Bedrooms
    9
    Bathrooms
    9
    Rooms
    Bathroom 5, Bedroom 9, Bedroom 7, Bathroom 1, Bedroom 5, Bedroom 1, Bathroom 9, Bathroom 7, Bathroom 8, Bathroom 4, Bedroom 8, Bedroom 6, Bathroom 6, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 3
    Parking
    2
    Parking features
    Garage, Driveway
    Interior features
    DoubleVanity, GraniteCounters, KitchenIsland, Pantry, WalkInClosets
    Appliances
    Dishwasher, ElectricOven, ElectricRange, Disposal, Microwave
    Standard status
    Active
    APN
    000000
    Lot size
    1.00 Acre

    Utilities

    Sewer type
    Aerobic Septic
    Heating system
    Electric (Heating)
    Cooling system
    Electric

    Building Details

    Year built
    2026
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Carpet, Vinyl
    Building materials
    Brick, StoneVeneer, WoodSiding
    Roof type
    Composition

    We can help!

    Listing Contact
    Eric Douglas

    Listing agent Eric Douglas License #0826890

    Listing office Marshall Reddick Real Estate Newport Beach, TX

    Listing date Mar 11, 2026

    MLS# 21180141 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

    • New construction triplex (under construction, built 2026) with 3 units, each approximately 1,838 SF
    • Each unit offers 3 bedrooms and 2.5 bathrooms, plus an attached 2‑car garage
    • Covered patio and private fenced backyard for each unit
    • Corner location on 875 and Edgewood Rd in Edgewood Estates (Midlothian, TX), zoned to Waxahachie ISD
    • Interior upgrades include granite counters, kitchen island, pantry, walk‑in closets, and double vanities
    • Utilities include electric HVAC and an aerobic septic system; brick/stone veneer/wood siding with a composition roof

    Overview

    A class-A luxury triplex offering new construction income potential with three spacious residences. The property includes three units of approximately 1,838 SF each, with 3 bedrooms and 2.5 baths. Every unit also has an attached 2-car garage, a covered patio, and a private fenced backyard—features designed to support tenant comfort and long-term retention.

    The asset is located on generous acre lots in the Edgewood Estates community, positioned as a corner site at 875 and Edgewood Rd in Midlothian, Texas. The property is zoned to Waxahachie ISD. It is conveniently placed about 30 minutes from Downtown Dallas and Fort Worth and roughly 8–10 minutes from major area medical providers including Methodist Midlothian Medical Center and Baylor Scott & White Waxahachie, with additional retail and dining options nearby.

    This is a compelling, turnkey addition for investors seeking a durable, functional, long-term rental setup in the thriving DFW market. Some units are already pre-leased, and first-year property management incentives are available, which may help improve near-term investment planning. Builder offering rate buy-down options are also noted, with lender terms as low as 4.25%.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Map

    City
    Midlothian
    County
    Ellis
    State
    Texas
    Longitude
    -96.9398806
    Latitude
    32.4084641

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    FAQs

    What type of property is this?
    Triplex - New construction triplex with three spacious units, each featuring covered patio space and private fenced backyards for strong tenant appeal.
    Where is this triplex located?
    The property is located at 6844-6846-6848 Florance Drive Midlothian, TX.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: New construction triplex (under construction, built 2026) with 3 units, each approximately 1,838 SF; Each unit offers 3 bedrooms and 2.5 bathrooms, plus an attached 2‑car garage; Covered patio and private fenced backyard for each unit
    (210) 339-2932
    We can help!
    Listing Contact
    Eric Douglas
    Real Estate License ID: 0826890
    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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