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 Market62
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.
Listed By:
Miguel Ramirez · License #0765685
(214) 521-7355
Source:
Tonyaharbin
Added: Aug 15
Changed: Oct 2
Last Checked: Oct 13 at 12:49AM
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 / Yr
$40,653
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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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
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Market
Vacancy Rate% for Multifamily in South region
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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
