Three-Story 5-Unit Condo
For Sale
$2,125,000
2151 Mail Avenue, Dallas, TX 75235
MULTI_FAMILY - Dallas, TX
Property Size7,883 SF
Lot Size0.17 Acres
Price / SF$269.57
Days on Market41
Property Features for 2151 Mail Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
10
Bathrooms
15
Full bathrooms
10
Half bathrooms
5
Rooms
Bedroom 4, Bathroom 10, Bathroom 13, Bathroom 9, Bedroom 6, Bathroom 6, Bedroom 5, Bedroom 3, Bathroom 12, Bathroom 11, Bathroom 4, Bedroom 8, Bedroom 7, Bathroom 2, Bedroom 10, Bedroom 1, Bathroom 8, Bedroom 9, Bathroom 5, Bathroom 15, Bedroom 2, Bathroom 7, Bathroom 3, Bathroom 14, Bathroom 1
Parking
10
Parking features
Garage, Open
Interior features
BuiltInFeatures, Chandelier, DecorativeDesignerLightingFixtures, DoubleVanity, HighSpeedInternet, InLawFloorplan, KitchenIsland, OpenFloorplan, CableTv, VaultedCeilings, WalkInClosets
Exterior features
Balcony, PrivateEntrance
Appliances
SomeGasAppliances, Dishwasher, Disposal, GasRange, GasWaterHeater, PlumbedForGas
Subdivision
Hoods J T
Elementary school
Knight
Middle school
Rusk
High school
North Dallas
Elementary school district
Dallas ISD
Middle school district
Dallas ISD
High school district
Dallas ISD
Directions
Please use Navigation.
Standard status
Active
APN
00000335098000000
Size
7,883 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
HOODS J T LOT 18 MAIL
Tax Annual Amount
8350
HOA Fee
$250 Monthly
Legal Description
HOODS J T LOT 18 MAIL
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
3
Number of units
5
Flooring type
Vinyl, Tile
Building materials
Frame, MetalSiding, WoodSiding
Listing Agency:
Douglas Elliman Real Estate
(469) 273-1431
Listed By:
Mabel Banda · License #0637169
(832) 320-2017
Added: Jun 20
Changed: Jul 27
Last Checked: Jul 30 at 2:06PM
MLS# 21221048
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.
2151 Mail Avenue is a brand-new, three-story 5-unit condo community designed for modern, functional living. Each unit is laid out with a versatile first-level flex room that includes a closet, suitable for uses such as an office, lounge, or guest area. The second level centers on an open-concept living area with high ceilings and abundant natural light. Kitchens feature custom cabinetry, an oversized island, and access to a private balcony for everyday enjoyment and entertaining. The third level is dedicated to bedrooms, including a spacious primary suite with a double vanity, walk-in closet, and an oversized walk-in shower.
The property is located at 2151 Mail Avenue in Dallas, TX 75235, on a 0.172-acre lot. As presented, 2147 Mail Avenue and 2151 Mail Avenue may be acquired together, creating a 10-unit portfolio.
For buyers seeking a small multi-unit income-producing condo arrangement, this community offers consistent, contemporary unit design across all five residences. The combination of flexible first-floor space, open living layouts, and outdoor balcony access supports a range of tenant lifestyles and day-to-day use. The ability to purchase alongside the adjacent 2147 Mail Avenue property may appeal to operators looking to consolidate a larger 10-unit portfolio under one ownership structure.
The property is located at 2151 Mail Avenue in Dallas, TX 75235, on a 0.172-acre lot. As presented, 2147 Mail Avenue and 2151 Mail Avenue may be acquired together, creating a 10-unit portfolio.
For buyers seeking a small multi-unit income-producing condo arrangement, this community offers consistent, contemporary unit design across all five residences. The combination of flexible first-floor space, open living layouts, and outdoor balcony access supports a range of tenant lifestyles and day-to-day use. The ability to purchase alongside the adjacent 2147 Mail Avenue property may appeal to operators looking to consolidate a larger 10-unit portfolio under one ownership structure.
Key Highlights
- Under construction 3‑story, 2026 build in a 5‑unit condo community at 2151 Mail Avenue
- Open‑concept living area with vaulted ceilings and high‑speed internet
- Kitchen with oversized island and gas range; includes dishwasher and disposal
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $244.1k | $30.96 |
| − Vacancy | −$26.1k | −$3.31 |
| EGI | $217.9k | $27.65 |
| − OpEx | −$98.1k | −$12.44 |
| NOI | $119.9k | $15.21 |
7,883 SF · lease $30.96/SF/yr · vacancy 10.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.71M
$1.50M – $2.00M
NOI $119,869 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.46M
$8.28M – $11.04M
NOI $662,127 @ 7.0% cap · market cap 31.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
Explore this area
Business Placement
Demographics for 75235, TX
19,153
Population
9,983
Households
1.9
Avg Household Size
33
Median Age
45%
College-Educated
77%
High-School Grad
6.7 sq mi
ZIP Area
2,859
Density / Sq Mi
$60,817
Median Household Income
$43,700
Median Earnings
$1,631
Median Rent
$283,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Modern new construction 5-unit condo community with flexible first-level space and private balconies.
Where is this apartment building located?
The property is located at 2151 Mail Avenue Dallas, TX.
What is the asking price?
The asking price for this property is $2,125,000.
What are key features of this property?
This property features: Under construction 3‑story, 2026 build in a 5‑unit condo community at 2151 Mail Avenue; Open‑concept living area with vaulted ceilings and high‑speed internet; Kitchen with oversized island and gas range; includes dishwasher and disposal
