Two-Story Duplex Requiring
For Sale
$499,000
1015 Kings Hwy, Dallas, TX 75208
Residential income property with substantial system rehabilitation needs.
Property Size2,312 SF
Price / SF$215.83
Days on Market16
Property Features for 1015 Kings Hwy
General Information
Standard status
Active
Size
2,312 SF
Property subtype
Multi-Family
Building Details
Year Built
1911
Listing Agency:
Allie Beth Allman & Assoc.
(214) 521-7355
Listed By:
Miguel Ramirez · License #0765685
Source:
Teamrobbins
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 7:05PM
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 Allie Beth Allman & Assoc.
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 at 1015 Kings Hwy in Dallas. The property is being offered in its existing condition, with no seller repairs planned.
The building requires comprehensive work to its HVAC equipment, electrical panel wiring, and plumbing. Utilities are currently off for inspections, so buyers should evaluate the property with those conditions in mind. Located in Oak Cliff Annex Subarea 2, the asset offers a duplex configuration along with a substantial renovation scope.
The building requires comprehensive work to its HVAC equipment, electrical panel wiring, and plumbing. Utilities are currently off for inspections, so buyers should evaluate the property with those conditions in mind. Located in Oak Cliff Annex Subarea 2, the asset offers a duplex configuration along with a substantial renovation scope.
Key Highlights
- Two‑story duplex built in 1911
- 2,312 square feet on a 50‑by‑150‑foot lot
- HVAC equipment, electrical panel wiring, and plumbing require full rehabilitation
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,086
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
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 - Residential income property with substantial system rehabilitation needs.
Where is this duplex located?
The property is located at 1015 Kings Hwy 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: Two‑story duplex built in 1911; 2,312 square feet on a 50‑by‑150‑foot lot; HVAC equipment, electrical panel wiring, and plumbing require full rehabilitation
