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John & Phyllis Greer

realtors@johnandphyllisgreerhomes.com +1(214) 460-8361

$ 425,000

Est. payment | -/mo

6 Beds

4 Baths

1.36 Acres Lot

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$ 425,000

Est. payment | -/mo

Save Virtual Tour

6 Beds

4 Baths

1.36 Acres Lot

Key Details

Property Type Single Family Home

Sub Type Multiple Single Units

Listing Status Active

Purchase Type For Sale

Subdivision Lscs Peden Add

MLS Listing ID 21324127

Bedrooms 6

Full Baths 4

HOA Y/N None

Total Fin. Sqft 1242

Year Built 1978

Annual Tax Amount $4,193

Lot Size 1.363 Acres

Acres 1.363

Property Sub-Type Multiple Single Units

Property Description

Turnkey income-producing property offering immediate cash flow and an impressive 8.23% cap rate. Situated on 1.3+ acres, this unique investment features two separately leased residences, making it an excellent addition to an investment portfolio or an ideal opportunity for an owner-occupant seeking supplemental rental income. The front residence has been extensively remodeled with quartz countertops, luxury vinyl plank flooring, updated cabinetry, and contemporary finishes throughout and is currently leased for $1,999 per month. The second residence is a 2022-built manufactured home offering 3 bedrooms, 2 bathrooms, and 1,216 square feet. It features its own address, private entrance, and separate utilities, and has been permanently affixed and perfected to the real property deed, providing greater financing flexibility and long-term value. It is currently leased for $1,600 per month. Together, the property generates $43,188 in gross annual income with annual operating expenses of only $8,195, resulting in a net operating income of $34,993. With both homes occupied by tenants, this stabilized asset delivers strong, immediate cash flow with excellent long-term investment potential.

Location

State TX

County Tarrant

Direction From TX-199 W, take the exit for FM 730/Boyd and merge onto the frontage road. Turn right onto Boyd Rd, then right onto Peden Rd. The destination will be on the right. Welcome!

Interior

Interior Features Cable TV Available, Eat-in Kitchen, High Speed Internet Available, Vaulted Ceiling(s), Walk-In Closet(s)

Heating Central

Cooling Central Air, Electric

Flooring Carpet, Luxury Vinyl Plank

Fireplaces Number 1

Fireplaces Type Wood Burning

Appliance Dishwasher, Disposal, Gas Cooktop, Gas Oven, Plumbed For Gas in Kitchen, Refrigerator

Heat Source Central

Exterior

Carport Spaces 2

Fence Fenced, Pipe

Utilities Available All Weather Road, Co-op Water, Outside City Limits, Septic

Roof Type Composition

Total Parking Spaces 2

Garage No

Building

Story One

Foundation Slab

Level or Stories One

Structure Type Brick

Schools

Elementary Schools Liberty

High Schools Azle

School District Azle Isd

Others

Acceptable Financing 1031 Exchange, Cash, Conventional

Listing Terms 1031 Exchange, Cash, Conventional

Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21324127

North Texas Real Estate Info Systems (NTREIS) -MetroTex and Collin County (CCAR)

Listed by Daniel Harker • Keller Williams Realty DPR

Schools and Properties Nearby

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(214) 460-8361

realtors@johnandphyllisgreerhomes.com

7971 Peden Road Azle, TX 76020

John & Phyllis Greer

Key Details

Location

Interior

Exterior

Building

Schools

Others

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7971 Peden Road