Two-Unit Duplex with Two
For Sale
$715,000
Pending
6241 Rincon Way, Dallas, TX 75214
Move-in ready duplex on two parcels, offering two spacious units with private outdoor space and attached garages.
Property Size3,216 SF
Days on Market55
Property Features for 6241 Rincon Way
General Information
Standard status
Pending
Size
3,216 SF
Total Parking Spaces
2
Property subtype
Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,580
Building Details
Building Size
3,216 SF
Year Built
1970
Tenancy
Multi
Listing Agency:
Redfin Corporation
(817) 783-4605
Listed By:
Rachael Wang · License #0619486
Source:
Nilesrealtygroup
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 6 at 4:33AM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
This for-sale duplex includes two parcels: 6239 and 6241 Rincon Way. The property provides two separate residential units, each featuring an open floor plan with a living room that includes a fireplace and built-in shelving. Both units have 2 bedrooms and 2 full bathrooms, including a primary suite with a private bath. Kitchens are equipped with a built-in oven and cooktop, refrigerator, dishwasher, and a dining area just off the kitchen.
Each unit also includes a 1-car garage, a covered patio, and private yard space. Recent updates include vinyl flooring, solar screens, and upgraded roof shingles, supporting a move-in ready condition and straightforward ongoing maintenance.
For owner-occupants or investors, the layout supports flexibility by allowing a buyer to live in one unit while renting the other. The duplex’s configuration also makes it well-suited for tenants seeking self-contained, functional two-bedroom residences with in-unit kitchen appliances and private outdoor areas. Additional context from the seller places the property in a quiet neighborhood near shopping and schools, with convenient access to US-75.
Each unit also includes a 1-car garage, a covered patio, and private yard space. Recent updates include vinyl flooring, solar screens, and upgraded roof shingles, supporting a move-in ready condition and straightforward ongoing maintenance.
For owner-occupants or investors, the layout supports flexibility by allowing a buyer to live in one unit while renting the other. The duplex’s configuration also makes it well-suited for tenants seeking self-contained, functional two-bedroom residences with in-unit kitchen appliances and private outdoor areas. Additional context from the seller places the property in a quiet neighborhood near shopping and schools, with convenient access to US-75.
Key Highlights
- Duplex built in 1970 on two parcels: 6239 and 6241 Rincon Way.
- Two units, each with 1,608 SF, 2 bedrooms, and 2 full baths (including a primary suite with private bath).
- Open living room with a fireplace and built‑in shelving in each unit.
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
$56,548
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%
$1,130,960
$1.1M
Cap Rate 7%
$807,829
$807.8K
Cap Rate 9%
$628,311
$628.3K
Market Conditions
NOI Build-Up for 3,216 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
$89.9K $27.96/SF
− Vacancy
−$9.1K −$2.84/SF
EGI
$80.8K $25.12/SF
− OpEx
−$24.2K −$7.54/SF
NOI
$56.5K $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%
$1,130,960
Cap Rate 7%
$807,829
Cap Rate 9%
$628,311
Alternative Uses
Best Use
Multifamily LT 5
$807.8K
$706.9K – $942.5K
NOI $56,548 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$698.6K
$611.3K – $815.1K
NOI $48,903 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$3.86M
$3.38M – $4.50M
NOI $270,125 @ 7.0% cap · market cap 37.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
905
Businesses Nearby
Explore this area
Business Placement
Demographics for 75214, TX
35,664
Population
17,474
Households
2
Avg Household Size
37
Median Age
71%
College-Educated
95%
High-School Grad
7.3 sq mi
ZIP Area
4,885
Density / Sq Mi
$128,917
Median Household Income
$81,149
Median Earnings
$1,536
Median Rent
$707,400
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?
Duplex - Move-in ready duplex on two parcels, offering two spacious units with private outdoor space and attached garages.
Where is this duplex located?
The property is located at 6241 Rincon Way Dallas, TX.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Duplex built in 1970 on two parcels: 6239 and 6241 Rincon Way.; Two units, each with 1,608 SF, 2 bedrooms, and 2 full baths (including a primary suite with private bath).; Open living room with a fireplace and built‑in shelving in each unit.
