Fully Leased Duplex
For Sale
$550,000
1315 Kings Highway, Dallas, TX 75208
Well-maintained duplex with two leased units, each offering 2 bedrooms and 1 bathroom, plus stainless appliances and stackable washer/dryer.
Property Size1,904 SF
Price / SF$288.87
Days on Market173
Property Features for 1315 Kings Highway
General Information
Standard status
Active
Size
1,904 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
Central Air
Central
No
Ceramic Tile, Wood
Dishwasher, Dryer, Gas Range, Refrigerator, Washer
Window Coverings
Cable TV Available
Composition
Two
2
Pillar/Post/Pier
Public Records
Brick
Covered, Front Porch
Building Details
Year Built
1925
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Realty DPR
(972) 608-0777
Listed By:
Seychelle Van Poole · License #0522221
(972) 608-0777
Source:
Compass
Added: Mar 11
Changed: Aug 8
Last Checked: Jul 22 at 8:05PM
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 Realty DPR
Investment Insights
Based on property information with market context.
This fully leased duplex offers two separate units, each configured with 2 bedrooms and 1 bathroom. Both units include a full kitchen with stainless steel appliances and a stackable washer and dryer. A four-car carport in the rear provides convenient on-site tenant parking, and the property has been well maintained, including a roof replacement in 2022.
The property is located in the Kings Highway neighborhood near Bishop Arts District, with nearby proximity to Stevens Park Golf Course and Rosemont Elementary School. The area is described as walkable to local destinations, and the home provides easy access to the shops, dining, and entertainment associated with the district.
Water and lawn care are included for the tenants based on current lease terms. The upstairs unit lease expires at the end of June, providing the next owner with the option to move in while continuing to rent the downstairs unit or maintain the property as a fully income-producing asset.
The property is located in the Kings Highway neighborhood near Bishop Arts District, with nearby proximity to Stevens Park Golf Course and Rosemont Elementary School. The area is described as walkable to local destinations, and the home provides easy access to the shops, dining, and entertainment associated with the district.
Water and lawn care are included for the tenants based on current lease terms. The upstairs unit lease expires at the end of June, providing the next owner with the option to move in while continuing to rent the downstairs unit or maintain the property as a fully income-producing asset.
Key Highlights
- Fully leased duplex with 2 units, each featuring 2 bedrooms and 1 bathroom
- Both units are leased for $1,789 per month total, with water and lawn care included
- Upstairs unit lease expires at the end of June, offering flexibility for an owner occupant
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
$33,479
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
6.09%
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%
$669,580
$669.6K
Cap Rate 7%
$478,271
$478.3K
Cap Rate 9%
$371,989
$372.0K
Market Conditions
NOI Build-Up for 1,904 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
$53.2K $27.96/SF
− Vacancy
−$5.4K −$2.84/SF
EGI
$47.8K $25.12/SF
− OpEx
−$14.3K −$7.54/SF
NOI
$33.5K $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%
$669,580
Cap Rate 7%
$478,271
Cap Rate 9%
$371,989
Alternative Uses
Best Use
Multifamily LT 5
$478.3K
$418.5K – $558.0K
NOI $33,479 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$413.6K
$361.9K – $482.5K
NOI $28,952 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$2.28M
$2.00M – $2.67M
NOI $159,925 @ 7.0% cap · market cap 29.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
944
Businesses Nearby
Explore this area
Business Placement
Demographics for 75208, TX
29,446
Population
13,655
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
76%
High-School Grad
6.1 sq mi
ZIP Area
4,827
Density / Sq Mi
$76,502
Median Household Income
$48,460
Median Earnings
$1,589
Median Rent
$415,200
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 - Well-maintained duplex with two leased units, each offering 2 bedrooms and 1 bathroom, plus stainless appliances and stackable washer/dryer.
Where is this duplex located?
The property is located at 1315 Kings Highway Dallas, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Fully leased duplex with 2 units, each featuring 2 bedrooms and 1 bathroom; Both units are leased for $1,789 per month total, with water and lawn care included; Upstairs unit lease expires at the end of June, offering flexibility for an owner occupant
