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    East Dallas Quadruplex Opportunity Title is generated by Realmo AI

    5309 Reiger Avenue, Dallas, TX 75214

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    For Sale
    $725,000

    Quadruplex - Dallas, TX

    Type:Quadruplex
    Lot size:
    0.23 Acres
    Added:
    Apr 13, 2026
    Days on Market:
    49
    Last Refresh:
    May 31 at 8:06 pm

    Property Features for 5309 Reiger Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Quadruplex
    Bedrooms
    5
    Bathrooms
    5
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    4
    Parking features
    Other
    Interior features
    Cable Tv Available, High Speed Internet Available
    Standard status
    Active
    APN
    00000156682000000
    Lot size
    0.23 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1925
    Floors in Building
    2
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Harrison Sharp

    Listing agent Harrison Sharp License #0735232

    Listing office BK Real Estate 9500 Ray White Road, North Richland Hills, TX

    Listing date Apr 13, 2026

    MLS# 21238193 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.

    HighLights

    • Rare quadruplex in a rapidly developing East Dallas location near Swiss Avenue.
    • Income‑generating property with potential for increased property value.
    • Value‑add opportunity through renovation and updating units to achieve market rents.
    • Current rental income from the units is $1,085, $1,135, $1,000, and $1,375.
    • Recent updates include PVC waste lines and replacement of 3 of 4 HVAC units.
    • Tenants pay their own electric; top units pay their own water.

    Overview

    This quadruplex is located in a quickly developing area of East Dallas, within walking distance of Swiss Avenue. The property features three 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit. The 1-bedroom units are currently leased at $1,085, $1,135, and $1,000 respectively, while the 2-bedroom unit is leased for $1,375. These rents are below market value for the area, presenting a value-add opportunity through renovation and updates. The property sits on a 0.23-acre lot. Updates from the current owner include PVC waste lines, replacement of three of the four HVAC units within the last 5 years, and a roof replacement in 2012. Tenants in the top units pay their own water, while the owner pays for water for the bottom units without chargeback. The tenants pay their own electric.
    Property Profile Location Intelligence

    Current Use by Public Records

    Pink Kitty Studios Photography Service

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Collin
    State
    Texas
    Longitude
    -96.760683
    Latitude
    32.799912

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    FAQs

    What type of property is this?
    Quadplex - Quadruplex in growing East Dallas, near Swiss Avenue.
    Where is this quadplex located?
    The property is located at 5309 Reiger Avenue Dallas, TX.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: Rare quadruplex in a rapidly developing East Dallas location near Swiss Avenue.; Income‑generating property with potential for increased property value.; Value‑add opportunity through renovation and updating units to achieve market rents.
    (972) 677-9172
    We can help!
    Listing Contact
    Harrison Sharp
    Real Estate License ID: 0735232
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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.

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