Historic Two-Story
For Sale
$499,000
1015 Kings Highway, Dallas, TX 75208
ResidentialIncome, Dallas, TX
Property Size2,312 SF
Lot Size0.18 Acres
Price / SF$215.83
Days on Market49
Property Features for 1015 Kings Highway
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 3, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2
Parking
5
Interior features
OpenFloorplan
Fencing
Fenced
Appliances
ElectricRange
Subdivision
Oak Cliff Annex
Lot features
Level
Elementary school
Rosemont
Middle school
Greiner
High school
Sunset
Elementary school district
Dallas ISD
Middle school district
Dallas ISD
High school district
Dallas ISD
Directions
From I-35E, exit Zang Blvd toward Bishop Arts District. Turn right on W Davis St, then left on N Tyler St. Turn right on Kings Hwy. Property is on the right between N Tyler and N Adams.
Standard status
Active
APN
00000273094000000
Lot size
0.18 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Ceiling Fan(s), Electric
Water source
Public
Building Details
Year built
1911
Floors in Building
2
Number of units
2
Flooring type
Laminate, Wood, Carpet, Tile
Roof type
Composition
Listing Agency:
Allie Beth Allman & Assoc. · Berkshire Hathaway HomeServices
(214) 521-7355
Listed By:
Miguel Ramirez · License #0765685
(214) 528-2500
Added: Aug 7
Changed: Sep 24
Last Checked: Sep 24 at 1:06AM
MLS# 21226104
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.
Investment Insights
Based on property information with market context.
Built in 1911, this two-story duplex contains 2,312 square feet on a 50-by-150-foot lot. The interior includes an open floor plan, four bedrooms, three bathrooms, wood, laminate, tile, and carpet flooring, plus an electric range. Additional features include a composition roof, fencing, public water, and public sewer.
Located on Kings Highway in Dallas, the property is positioned in the Oak Cliff Annex Subarea 2. Utilities are currently off for inspections. The HVAC equipment, electrical panel wiring, and plumbing require full system rehabilitation, and the property is being offered strictly as-is with no seller repairs.
Located on Kings Highway in Dallas, the property is positioned in the Oak Cliff Annex Subarea 2. Utilities are currently off for inspections. The HVAC equipment, electrical panel wiring, and plumbing require full system rehabilitation, and the property is being offered strictly as-is with no seller repairs.
Key Highlights
- 1911 two‑story duplex with 2,312 square feet
- 0.1753‑acre lot measuring 50x150
- Four bedrooms and three bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,653
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$813,060
$813.1K
Cap Rate 7%
$580,757
$580.8K
Cap Rate 9%
$451,700
$451.7K
Market Conditions
NOI Build-Up for 2,312 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$64.6K $27.96/SF
− Vacancy
−$6.6K −$2.84/SF
EGI
$58.1K $25.12/SF
− OpEx
−$17.4K −$7.54/SF
NOI
$40.7K $17.58/SF
Area
Dallas, TX
Vacancy
10.16%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$813,060
Cap Rate 7%
$580,757
Cap Rate 9%
$451,700
Alternative Uses
Best Use
Multifamily LT 5
$580.8K
$508.2K – $677.6K
NOI $40,653 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$502.2K
$439.5K – $585.9K
NOI $35,156 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$2.77M
$2.43M – $3.24M
NOI $194,195 @ 7.0% cap · market cap 38.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,210
Businesses Nearby
Explore this area
Business Placement
Demographics for 75208, TX
29,446
Population
13,655
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
76%
High-School Grad
6.1 sq mi
ZIP Area
4,827
Density / Sq Mi
$76,502
Median Household Income
$48,460
Median Earnings
$1,589
Median Rent
$415,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property requiring comprehensive rehabilitation and offered in its existing condition.
Where is this duplex located?
The property is located at 1015 Kings Highway Dallas, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1911 two‑story duplex with 2,312 square feet; 0.1753‑acre lot measuring 50x150; Four bedrooms and three bathrooms
