Description
Fully renovated 4-unit rental portfolio in Reno, TX, consisting of one duplex and two single-family homes across three buildings on approximately 1.06 acres. The property has been extensively improved over the past two years, including water and septic lines, appliances, flooring, paint, fixtures, fencing, kitchens, baths, and other major components. There are no known deferred-maintenance items, making this a true turnkey investment. 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.
Details
| MLS # | 21113573 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1983 |
| Days On Site | 307 |
| Listing Provided By | The Costello Group, LLC | Mark Costello |
Features
| Bed(s) | 10 |
|---|---|
| Bath(s) | 11 Total |
| Car Port | Yes |
| Story(s) | 2 |
| Units | 4 |
| Building(s) | 3 |
| Acreage | 1.06 |
Interior
| Cooling | Ceiling Fan(s), Central Air, Electric |
|---|---|
| Heating | Central, Electric |
| Interior Features | Decorative Lighting, Eat-in Kitchen, Granite Counters, High Speed Internet Available, Open Floorplan |
| Window Features | Window Coverings |
| Appliances | Dishwasher, Disposal, Electric Range, Electric Water Heater, Microwave |
Exterior
| Exterior Features | Dog Run, Rain Gutters, Lighting, Storage |
|---|---|
| Roof | Composition, Metal |
| Security Features | Unknown |
| Construction Materials | Board & Batten Siding, Siding |
| Foundation Details | Slab |
| Lot Features | Cleared, Few Trees, Interior Lot, Level, Lrg. Backyard Grass |
Parking
| Garage Yn | 0 |
|---|---|
| Attached Garage Yn | 0 |
| Parking Features | Carport, Covered, Driveway, Gravel |
Utilities
| Utilities | All Weather Road, City Water, Co-op Electric, Individual Water Meter, Overhead Utilities, Septic, Underground Utilities |
|---|
Taxes
| Tax Lot | 1 |
|---|---|
| Tax Legal Description | Acres: 1.061, Lot: 1, Subd: R&R LITTLE ESTATES, G |
Area Information
| State | TX |
|---|---|
| County | Parker |
| City | Reno |
| Zip Code | 76020 |
| Area | Parker |
| Community Name | R & R Little Estates |
| School District | Springtown ISD |
| Elementary School | Reno |
| High School | Springtown |
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Contact
Learn More About This Property
| State | TX |
|---|---|
| County | Parker |
| City | Reno |
| Zip Code | 76020 |
| Area | Parker |
| Community Name | R & R Little Estates |
| School District | Springtown ISD |
| Elementary School | Reno |
| High School | Springtown |
 | $525,0001791 Arvel CircleReno, TX 76020 |