Well-Maintained Full
For Sale
$599,000
Pending
15529 El Estado Drive, Dallas, TX 75248
Each side offers 3 bedrooms, 2 bathrooms, separate entrances, and individual utilities, with one unit move-in ready.
Property Size2,784 SF
Days on Market24
Property Features for 15529 El Estado Drive
General Information
Standard status
Pending
Size
2,784 SF
Property subtype
Duplex
Occupancy
50%
Additional Details
Multifamily Units
2
Building Details
Year Built
1967
Tenancy
Multi
Listing Agency:
Keller Williams Dallas Midtown
(214) 526-4663
Listed By:
Rene Jensen · License #0720823
(214) 532-6823
Source:
Lonestarluxuryrealty
Added: Jul 20
Changed: Aug 8
Last Checked: Jul 26 at 2:29PM
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 Keller Williams Dallas Midtown
Investment Insights
Based on property information with market context.
Well-maintained full duplex with two separate residences, each featuring 3 bedrooms and 2 bathrooms, along with separate entrances and individual utilities. The downstairs layout includes a bedroom and a full bath, while two additional bedrooms and a second full bath are located upstairs.
One unit is move-in ready and has been updated with vinyl flooring, a refreshed kitchen, stainless steel appliances, and an open-concept living and dining area. The second unit is currently tenant-occupied with a lease in place.
Located in a North Dallas area within Richardson ISD and just minutes from UT Dallas and major employers, with convenient access to shopping, dining, and commuter routes.
One unit is move-in ready and has been updated with vinyl flooring, a refreshed kitchen, stainless steel appliances, and an open-concept living and dining area. The second unit is currently tenant-occupied with a lease in place.
Located in a North Dallas area within Richardson ISD and just minutes from UT Dallas and major employers, with convenient access to shopping, dining, and commuter routes.
Key Highlights
- 1967‑built full duplex in North Dallas with two separate units, each offering 3 bedrooms and 2 bathrooms
- Each side has separate entrances and individual utilities, creating separate living and rental spaces
- One unit is move‑in ready with vinyl flooring, updated kitchen, stainless steel appliances, and an open‑concept living and dining area
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
$48,952
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
8.17%
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%
$979,040
$979.0K
Cap Rate 7%
$699,314
$699.3K
Cap Rate 9%
$543,911
$543.9K
Market Conditions
NOI Build-Up for 2,784 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
$77.8K $27.96/SF
− Vacancy
−$7.9K −$2.84/SF
EGI
$69.9K $25.12/SF
− OpEx
−$21.0K −$7.54/SF
NOI
$49.0K $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%
$979,040
Cap Rate 7%
$699,314
Cap Rate 9%
$543,911
Alternative Uses
Best Use
Multifamily LT 5
$699.3K
$611.9K – $815.9K
NOI $48,952 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$604.8K
$529.2K – $705.6K
NOI $42,334 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$3.34M
$2.92M – $3.90M
NOI $233,840 @ 7.0% cap · market cap 39.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
761
Businesses Nearby
Explore this area
Business Placement
Demographics for 75248, TX
38,210
Population
18,531
Households
2.1
Avg Household Size
41
Median Age
65%
College-Educated
97%
High-School Grad
7.4 sq mi
ZIP Area
5,164
Density / Sq Mi
$103,063
Median Household Income
$61,677
Median Earnings
$1,602
Median Rent
$543,000
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 - Each side offers 3 bedrooms, 2 bathrooms, separate entrances, and individual utilities, with one unit move-in ready.
Where is this duplex located?
The property is located at 15529 El Estado Drive Dallas, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1967‑built full duplex in North Dallas with two separate units, each offering 3 bedrooms and 2 bathrooms; Each side has separate entrances and individual utilities, creating separate living and rental spaces; One unit is move‑in ready with vinyl flooring, updated kitchen, stainless steel appliances, and an open‑concept living and dining area
