Two-Story Duplex Requiring
New
For Sale
$499,000
1015 Kings Highway, Dallas, TX 75208
MULTI_FAMILY - Dallas, TX
Property Size2,312 SF
Lot Size0.18 Acres
Price / SF$215.83
Days on Market3
Property Features for 1015 Kings Highway
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 3
Parking
5
Interior features
OpenFloorplan
Fencing
Fenced
Appliances
ElectricRange
Subdivision
Oak Cliff Annex
Lot features
Level
Elementary school
Rosemont
Middle school
Greiner
High school
Sunset
Elementary school district
Dallas ISD
Middle school district
Dallas ISD
High school district
Dallas ISD
Directions
From I-35E, exit Zang Blvd toward Bishop Arts District. Turn right on W Davis St, then left on N Tyler St. Turn right on Kings Hwy. Property is on the right between N Tyler and N Adams.
Standard status
Active
APN
00000273094000000
Lot size
0.18 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1911
Floors in Building
2
Number of units
2
Flooring type
Wood, Tile, Carpet, Laminate
Roof type
Composition
Listing Agency:
Allie Beth Allman & Assoc. · Berkshire Hathaway HomeServices
(214) 521-7355
Listed By:
Miguel Ramirez · License #0765685
(214) 528-2500
Added: Aug 7
Last Checked: Aug 9 at 7:06AM
MLS# 21226104
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.
Investment Insights
Based on property information with market context.
Constructed in 1911, this two-story duplex contains 2,312 square feet on a 50-by-150-foot lot. The interior includes an open floor plan, four bedrooms, and three bathrooms, with wood, tile, carpet, and laminate flooring. A composition roof, electric range, central heating and cooling, ceiling fans, and fencing are also present.
The property is located at 1015 Kings Highway in Dallas, within the 75208 ZIP code. Public water and public sewer serve the site. Utilities are currently off for inspections, and the HVAC equipment, electrical panel wiring, and plumbing require full system rehabilitation. The sale is strictly as-is, with no seller repairs. The property is also identified for potential redevelopment or a new-build project.
The property is located at 1015 Kings Highway in Dallas, within the 75208 ZIP code. Public water and public sewer serve the site. Utilities are currently off for inspections, and the HVAC equipment, electrical panel wiring, and plumbing require full system rehabilitation. The sale is strictly as-is, with no seller repairs. The property is also identified for potential redevelopment or a new-build project.
Key Highlights
- 2,312 square feet in a two‑story duplex
- 50‑by‑150‑foot lot, measuring 0.1753 acres
- Built in 1911 with four bedrooms and three bathrooms
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
Lease Details
2
Residential units
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 - 1911-built duplex with an open floor plan, fenced lot, and public water and sewer service.
Where is this duplex located?
The property is located at 1015 Kings Highway 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: 2,312 square feet in a two‑story duplex; 50‑by‑150‑foot lot, measuring 0.1753 acres; Built in 1911 with four bedrooms and three bathrooms
