Ten-Unit Short-Term Rental
For Sale
$2,300,000
3604 San Jacinto St, Dallas, TX 75204
CityPlace bnb is a 10-unit short-term rental property operating as an Airbnb in Dallas.
Property Size5,600 SF
Days on Market155
Property Features for 3604 San Jacinto St
General Information
Standard status
Active
Size
5,600 SF
Property subtype
Multifamily
Occupancy
85%
Amenities
10-Unit Airbnb with $360,000 Annual Gross Revenue
Prime Location One Mile from Downtown Dallas
Turnkey Business with Proven Systems In Place
Building Details
Building Size
5,600 SF
Units
10
Listing Agency:
Dallas Office
(972) 755-5200
Listed By:
Nick Fluellen · License #TX: 0521943, TX: 9001647
(972) 755-5214
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 8
Last Checked: Jul 23 at 2:20PM
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 Dallas Office
Investment Insights
Based on property information with market context.
CityPlace bnb is an income-producing, 10-unit short-term rental property operating as an Airbnb. The offering is presented as a residential income asset with a total of ten units.
The property is located at 3604 San Jacinto St in Dallas, Texas. It is offered for sale by Marcus & Millichap as an exclusive listing.
Additional financial and operational details are not provided in the available information.
The property is located at 3604 San Jacinto St in Dallas, Texas. It is offered for sale by Marcus & Millichap as an exclusive listing.
Additional financial and operational details are not provided in the available information.
Key Highlights
- 10‑unit short‑term rental property operating as an Airbnb in Dallas, TX
- 8.31% listed in the provided remarks
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
$85,154
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
3.70%
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%
$1,703,080
$1.7M
Cap Rate 7%
$1,216,486
$1.2M
Cap Rate 9%
$946,156
$946.2K
Market Conditions
NOI Build-Up for 5,600 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
$173.4K $30.96/SF
− Vacancy
−$18.6K −$3.31/SF
EGI
$154.8K $27.65/SF
− OpEx
−$69.7K −$12.44/SF
NOI
$85.2K $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%
$1,703,080
Cap Rate 7%
$1,216,486
Cap Rate 9%
$946,156
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.06M – $1.42M
NOI $85,154 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.72M
$5.88M – $7.84M
NOI $470,368 @ 7.0% cap · market cap 20.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,748
Businesses Nearby
Explore this area
Business Placement
Demographics for 75204, TX
34,012
Population
23,304
Households
1.5
Avg Household Size
31
Median Age
70%
College-Educated
95%
High-School Grad
2.6 sq mi
ZIP Area
13,082
Density / Sq Mi
$93,007
Median Household Income
$71,995
Median Earnings
$1,822
Median Rent
$451,900
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?
Short term rental property - CityPlace bnb is a 10-unit short-term rental property operating as an Airbnb in Dallas.
Where is this short term rental property located?
The property is located at 3604 San Jacinto St Dallas, TX.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 10‑unit short‑term rental property operating as an Airbnb in Dallas, TX; 8.31% listed in the provided remarks
