Duplex with Detached Guest
For Sale
$880,000
1006 Grigsby Avenue, Dallas, TX 75204
Updated duplex configuration pairs a spacious primary residence with private living space above the detached garage.
Property Size3,264 SF
Price / SF$269.61
Days on Market165
Property Features for 1006 Grigsby Avenue
General Information
Standard status
Active
Size
3,264 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Multiple Single Units
Units
Unit Mix
1 x 5BR, 1 x 2BR
Multifamily Units
2
Additional Details
Gross Income
$60,000
Amenities
Ceiling Fan(s), Central Air, Electric
Central, Natural Gas
Wood
Built-in Refrigerator, Dishwasher, Disposal, Dryer, Gas Oven, Gas Range, Ice Maker, Microwave
Bay Window(s), Window Coverings
Built-in Wine Cooler, Cable TV Available, Chandelier, Decorative Lighting, Double Vanity, Eat-in Kitchen, Granite Counters, High Speed Internet Available, In-Law Suite Floorplan, Kitchen Island, Natural Woodwork, Pantry, Walk-In Closet(s), Wet Bar
Gas Starter
No
Composition
Two
Back Yard, Privacy, Wood
Awning(s), Balcony, Covered Deck, Covered Patio/Porch, Private Yard
2
Bois DArc Post
Assessor
Covered, Deck
Building Details
Year Built
1933
Buildings
2
Listing Agency:
Compass
(469) 556-0743
Listed By:
Bobby Schleizer · License #0794156
(469) 556-0743
Source:
Compass
Added: Mar 19
Changed: Aug 29
Last Checked: Aug 29 at 6:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
This duplex property combines a 3,264-square-foot primary residence with separate guest quarters positioned above a detached garage. The main home includes five bedrooms, multiple living areas, fireplaces, natural woodwork, granite counters, a kitchen island, pantry, wet bar, and a walk-in closet. Central air, natural gas service, and updated interior finishes support contemporary residential use while retaining details from the 1933 construction era.
The upper garage unit provides two additional bedrooms and a private layout suited to an in-law arrangement or separate residential occupancy. Exterior features include a balcony, covered patio or porch, covered deck, private yard, and privacy fencing. The property also includes a two-car garage and updated kitchen appliances, including a gas range, dishwasher, disposal, microwave, and built-in refrigerator.
The upper garage unit provides two additional bedrooms and a private layout suited to an in-law arrangement or separate residential occupancy. Exterior features include a balcony, covered patio or porch, covered deck, private yard, and privacy fencing. The property also includes a two-car garage and updated kitchen appliances, including a gas range, dishwasher, disposal, microwave, and built-in refrigerator.
Key Highlights
- 3,264‑square‑foot duplex property built in 1933
- Five‑bedroom primary home with multiple living areas and fireplaces
- Two‑bedroom guest quarters above the detached garage
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
$57,392
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
6.52%
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%
$1,147,840
$1.1M
Cap Rate 7%
$819,886
$819.9K
Cap Rate 9%
$637,689
$637.7K
Market Conditions
NOI Build-Up for 3,264 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
$91.3K $27.96/SF
− Vacancy
−$9.3K −$2.84/SF
EGI
$82.0K $25.12/SF
− OpEx
−$24.6K −$7.54/SF
NOI
$57.4K $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%
$1,147,840
Cap Rate 7%
$819,886
Cap Rate 9%
$637,689
Alternative Uses
Best Use
Multifamily LT 5
$819.9K
$717.4K – $956.5K
NOI $57,392 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$709.0K
$620.4K – $827.2K
NOI $49,632 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$3.92M
$3.43M – $4.57M
NOI $274,157 @ 7.0% cap · market cap 31.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,723
Businesses Nearby
Explore this area
Business Placement
Demographics for 75204, TX
34,012
Population
23,304
Households
1.5
Avg Household Size
31
Median Age
70%
College-Educated
95%
High-School Grad
2.6 sq mi
ZIP Area
13,082
Density / Sq Mi
$93,007
Median Household Income
$71,995
Median Earnings
$1,822
Median Rent
$451,900
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?
Duplex - Updated duplex configuration pairs a spacious primary residence with private living space above the detached garage.
Where is this duplex located?
The property is located at 1006 Grigsby Avenue Dallas, TX.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: 3,264‑square‑foot duplex property built in 1933; Five‑bedroom primary home with multiple living areas and fireplaces; Two‑bedroom guest quarters above the detached garage
