Updated Corner-Lot
For Sale
$555,000
13351 Kit Ln, Dallas, TX 75240
Full duplex on a corner lot with two two-car garages and private backyards for each unit.
Property Size3,162 SF
Price / SF$175.52
Days on Market53
Property Features for 13351 Kit Ln
General Information
Standard status
Active
Size
3,162 SF
Property subtype
Multi-Family
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1968
Year Renovated
2025
Listing Agency:
Real Broker, LLC
Listed By:
Orlanda Powell · License #0497468
(817) 795-2500
Source:
Tonyaharbin
Added: Jul 20
Changed: Sep 8
Last Checked: Sep 9 at 8:54PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This corner-lot full duplex includes two residential units with private backyards. Unit 13351 features vaulted ceilings, exposed wood beams, recessed lighting, Spanish tile, and warm laminate flooring, and is served by a two-car garage. Unit 13353 was updated in 2025 with luxury vinyl plank flooring, decorative lighting, fresh interior paint, and modernized kitchen and bathrooms, and also includes a two-car garage.
The property has four full bathrooms across both units and provides a total layout designed for comfortable living and rental use. Recent improvements include a wrought iron fence installed in 2021, a new AC unit for Unit 13351 installed in 2022, and a garage door replacement for Unit 13353 installed in 2022.
Both units are currently tenant-occupied, with lease expirations noted as April 2027 for Unit 13351 and March 2027 for Unit 13353.
The property has four full bathrooms across both units and provides a total layout designed for comfortable living and rental use. Recent improvements include a wrought iron fence installed in 2021, a new AC unit for Unit 13351 installed in 2022, and a garage door replacement for Unit 13353 installed in 2022.
Both units are currently tenant-occupied, with lease expirations noted as April 2027 for Unit 13351 and March 2027 for Unit 13353.
Key Highlights
- 1968‑built corner‑lot full duplex in Dallas with 2 units, each with a private backyard.
- Each unit includes a 2‑car garage; property features six bedrooms and four full bathrooms total.
- Unit 13351: vaulted ceilings, exposed wood beams, recessed lighting, Spanish tile, and warm laminate flooring; AC installed in 2022.
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
$48,081
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
8.66%
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%
$961,620
$961.6K
Cap Rate 7%
$686,871
$686.9K
Cap Rate 9%
$534,233
$534.2K
Market Conditions
NOI Build-Up for 3,162 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
$97.9K $30.96/SF
− Vacancy
−$10.5K −$3.31/SF
EGI
$87.4K $27.65/SF
− OpEx
−$39.3K −$12.44/SF
NOI
$48.1K $15.21/SF
Area
Dallas, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
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%
$961,620
Cap Rate 7%
$686,871
Cap Rate 9%
$534,233
Alternative Uses
Best Use
Multifamily LT 5
$794.3K
$695.0K – $926.7K
NOI $55,599 @ 7.0% cap · market cap 10.02%
Second Best
Apartment 5plus
$686.9K
$601.0K – $801.4K
NOI $48,081 @ 7.0% cap · market cap 8.66%
Theoretical Best
Office A
$3.79M
$3.32M – $4.43M
NOI $265,590 @ 7.0% cap · market cap 47.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,493
Businesses Nearby
Explore this area
Business Placement
Demographics for 75240, TX
25,839
Population
12,014
Households
2.2
Avg Household Size
33
Median Age
34%
College-Educated
74%
High-School Grad
3.8 sq mi
ZIP Area
6,800
Density / Sq Mi
$56,056
Median Household Income
$32,171
Median Earnings
$1,333
Median Rent
$326,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Full duplex on a corner lot with two two-car garages and private backyards for each unit.
Where is this duplex located?
The property is located at 13351 Kit Ln Dallas, TX.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: 1968‑built corner‑lot full duplex in Dallas with 2 units, each with a private backyard.; Each unit includes a 2‑car garage; property features six bedrooms and four full bathrooms total.; Unit 13351: vaulted ceilings, exposed wood beams, recessed lighting, Spanish tile, and warm laminate flooring; AC installed in 2022.
