Updated Triplex with New
New
For Sale
$249,900
1213 College Street, Grand Prairie, TX 75050
Updated interiors feature durable flooring, refreshed finishes, and kitchens equipped with granite countertops and new appliances.
Property Size1,992 SF
Price / SF$125.45
Days on Market4
Property Features for 1213 College Street
General Information
Standard status
Active
Size
1,992 SF
Property subtype
Triplex
Building Details
Year Built
2001
Listing Agency:
Lonestar Luxury Realty
Listed By:
Rene Jensen · License #0720823
(214) 532-6823
Source:
Lonestarluxuryrealty
Added: Aug 30
Changed: Sep 2
Last Checked: Sep 1 at 6:07PM
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 Lonestar Luxury Realty
Investment Insights
Based on property information with market context.
This triplex property offers 1,992 square feet of functional living space with a 3-bedroom, 2-bathroom configuration. Improvements include a new roof, luxury vinyl plank flooring, granite countertops, new kitchen appliances, and fresh interior paint. The combination of recent upgrades and practical residential layout gives the property a clean, move-in-ready presentation.
Built in 2001, the property has been repositioned with updated finishes while retaining its established residential structure. The improvements focus on major exterior protection, flooring, kitchen surfaces, appliances, and interior appearance, providing a straightforward multifamily asset with substantial recent work completed.
Built in 2001, the property has been repositioned with updated finishes while retaining its established residential structure. The improvements focus on major exterior protection, flooring, kitchen surfaces, appliances, and interior appearance, providing a straightforward multifamily asset with substantial recent work completed.
Key Highlights
- Triplex property with 1,992 square feet of living space
- 3‑bedroom, 2‑bathroom configuration
- New roof installed
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
$19,766
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
7.91%
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%
$395,320
$395.3K
Cap Rate 7%
$282,371
$282.4K
Cap Rate 9%
$219,622
$219.6K
Market Conditions
NOI Build-Up for 1,992 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
$29.9K $15.00/SF
− Vacancy
−$1.6K −$0.83/SF
EGI
$28.2K $14.17/SF
− OpEx
−$8.5K −$4.25/SF
NOI
$19.8K $9.92/SF
Area
Grand Prairie, TX
Vacancy
5.50%
Lease Rate
$15.00 /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%
$395,320
Cap Rate 7%
$282,371
Cap Rate 9%
$219,622
Alternative Uses
Best Use
Multifamily LT 5
$282.4K
$247.1K – $329.4K
NOI $19,766 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$262.8K
$230.0K – $306.7K
NOI $18,399 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$560.0K
$490.0K – $653.4K
NOI $39,203 @ 7.0% cap · market cap 15.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
Explore this area
Business Placement
Demographics for 75050, TX
43,531
Population
17,286
Households
2.5
Avg Household Size
33
Median Age
23%
College-Educated
79%
High-School Grad
25.8 sq mi
ZIP Area
1,687
Density / Sq Mi
$70,484
Median Household Income
$39,322
Median Earnings
$1,412
Median Rent
$224,400
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?
Triplex - Updated interiors feature durable flooring, refreshed finishes, and kitchens equipped with granite countertops and new appliances.
Where is this triplex located?
The property is located at 1213 College Street Grand Prairie, TX.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Triplex property with 1,992 square feet of living space; 3‑bedroom, 2‑bathroom configuration; New roof installed
