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    4492 Chaha Road Garland, TX 75043

    View on Map
    For Sale
    Under Contract
    $3,999,900

    Multiple Single Units - Garland, TX

    Lot size:
    13.55 Acres
    Added:
    Mar 11, 2026
    Days on Market:
    21
    Last Refresh:
    Mar 31 at 6:06 pm

    Property Features for 4492 Chaha Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    42
    Parking features
    Open
    Patio and Porch features
    Patio, Porch
    Interior features
    Cable Tv Available, Granite Counters, High Speed Internet Available
    Exterior features
    Balcony, Covered Patio/Porch
    Fireplace
    1
    Appliances
    Dishwasher, Garbage Disposer, Washer
    Standard status
    Active Under Contract
    APN
    261785500W1020000
    Lot size
    13.55 Acres

    Taxes and HOA fees

    Expense value
    7170
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Utilities

    Utilities
    Cable Available
    Heating system
    Electric (Heating), Fireplace(s)
    Cooling system
    Electric
    Water front features
    Lake Front, Waterfront
    Water front
    1

    Building Details

    Year built
    1981
    Floors in Building
    2
    Flooring type
    Tile, Tile - Ceramic, Vinyl
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Matthew Johns

    Listing agent Matthew Johns License #0616310

    Listing office Keller Williams Rockwall 550 Vigor Way Ste 200, Rockwall, TX

    Listing date Mar 11, 2026

    MLS# 20988754 Listing URL

    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.

    Overview

    Lakefront Condo Units Investment Opportunity

    This is an opportunity to own a group of 25 individual condo units located on Lake Ray Hubbard. 22 of the 25 units are lakefront. The location is near I30, George Bush HWY, Bass Pro Shop, and restaurants. Short term rentals are allowed by the HOA. All units are currently leased out. There are 17 units that are 2 bedroom, 2 full bath and 8 units are 1 bedroom, 1 full bath. All units have either tile flooring through out or luxury vinyl plank flooring. All carpet has been removed from every unit. All units have a wood burning fireplace, full size washer dryer connections, appliances, covered patio and outdoor storage closet. Tenants pay electricity, cable and internet. All other utilities and exterior maintenance are covered by the HOA dues. The property is located in Garland, Texas, in Dallas County, with a lot size of 13.545 acres.
    Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Gym & Fitness Center Pharmacy Skin Care Clinic Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Garland
    County
    Dallas
    State
    Texas
    Longitude
    -96.5392918
    Latitude
    32.8628676

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    FAQs

    What type of property is this?
    Apartment building - 25 condo units near Lake Ray Hubbard, allows short term rentals.
    Where is this apartment building located?
    The property is located at 4492 Chaha Road Garland, TX.
    What is the asking price?
    The asking price for this property is $3,999,900.
    What are key features of this property?
    This property features: 22 of 25 units are lakefront properties.; Short term rentals allowed, providing income potential.; All units are currently leased, providing immediate cash flow.
    (972) 772-7000
    We can help!
    Listing Contact
    Matthew Johns
    Real Estate License ID: 0616310
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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