UPDATED:
Key Details
Property Type Single Family Home
Sub Type Multiple Single Units
Listing Status Active
Purchase Type For Sale
Subdivision R & R Little Estates
MLS Listing ID 21113573
Bedrooms 10
Full Baths 8
Half Baths 3
HOA Y/N None
Total Fin. Sqft 4078
Year Built 1983
Lot Size 1.061 Acres
Acres 1.061
Lot Dimensions 280x230
Property Sub-Type Multiple Single Units
Property Description
All four units are currently occupied, producing $81,540 in gross scheduled annual rent. Current NOI is approximately $66,577, equating to an 8.59% in-place cap rate at the $775,000 asking price. Tenant turnover has historically been very low, and lease expirations are staggered through 2027 and 2028, helping reduce concentrated vacancy risk.
Each unit features individual water and electric metering, a private fenced yard, dedicated parking, two covered carport spaces, and exterior storage.
Located inside the City of Reno and within Springtown ISD, the property offers a quiet residential setting with quick access to Azle, FM 730, Hwy 199, and the broader DFW market.
An adjoining commercial-income property may also be available separately. It includes approximately one acre, a hard-corner location, three-phase power, utilities, covered work areas, and an approximately 6,600 SF shop being divided into multiple leasable spaces, creating additional income and business-use potential.
Location
State TX
County Parker
Direction Some GPS's are not accurate. 32.938602385441506, -97.55943606014787 coordinates are easiest. E Reno Rd is AKA 1542. From Hwy 199 and Boyd Rd, go north On Boyd for 2.5 miles, turn left onto E Reno Rd-1542 for 1 mile, property on left right after the first loop of Arvel Circle.
Interior
Interior Features Decorative Lighting, Eat-in Kitchen, Granite Counters, High Speed Internet Available, Open Floorplan
Heating Central, Electric
Cooling Ceiling Fan(s), Central Air, Electric
Flooring Carpet, Luxury Vinyl Plank
Appliance Dishwasher, Disposal, Electric Range, Electric Water Heater, Microwave
Heat Source Central, Electric
Exterior
Exterior Feature Dog Run, Rain Gutters, Lighting, Storage
Carport Spaces 8
Fence Back Yard, Cross Fenced, Fenced, Metal, Partial
Utilities Available All Weather Road, City Water, Co-op Electric, Individual Water Meter, Overhead Utilities, Septic, Underground Utilities
Roof Type Composition,Metal
Total Parking Spaces 8
Garage No
Building
Lot Description Cleared, Few Trees, Interior Lot, Level, Lrg. Backyard Grass
Story Two
Foundation Slab
Level or Stories Two
Structure Type Board & Batten Siding,Siding
Schools
Elementary Schools Reno
Middle Schools Springtown
High Schools Springtown
School District Springtown Isd
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Aerial Photo, Survey Available
Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21113573
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Therese Johnson
Broker Associate License ID: 634934-B
Broker Associate License ID: 634934-B