Prairie-Style Quadplex with
For Sale
$950,000
826 N Bishop Avenue, Dallas, TX 75208
Four residential units offer two-bedroom layouts, refreshed exterior paint, and covered outdoor areas.
Property Size3,620 SF
Days on Market17
Property Features for 826 N Bishop Avenue
General Information
Standard status
Active
Size
3,620 SF
Property subtype
Quadruplex
Zoning
Bishop Ave Corridor PD-830
Units
Unit Mix
4 x 2BD/1BA
Multifamily Units
4
Amenities
covered front porch
2nd-floor balcony
Building Details
Building Size
3,620 SF
Year Built
1925
Buildings
1
Construction
Prairie-style
Listing Agency:
Dave Perry Miller Real Estate
(214) 403-4082
Listed By:
Jason Saucedo · License #0650625
Source:
Nilesrealtygroup
Added: Aug 16
Changed: Aug 24
Last Checked: Aug 30 at 9:46PM
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 Dave Perry Miller Real Estate
Investment Insights
Based on property information with market context.
This 3,620-square-foot Prairie-style quadplex contains four residential units, each arranged with 2 bedrooms, 1 bathroom, a living room, dining area, and kitchen. Brick columns, a covered front porch, and a second-floor balcony contribute distinctive architectural character, while the exterior has been recently painted.
The property is located at 826 N Bishop Ave in Dallas, within the Bishop Ave Corridor PD-830 zoning district and just blocks from Bishop Arts. The site is positioned near the district’s dining, coffee, boutique, and entertainment offerings. Its four-unit configuration and existing residential layout support continued income-producing use, subject to buyer verification of zoning and redevelopment considerations.
The property is located at 826 N Bishop Ave in Dallas, within the Bishop Ave Corridor PD-830 zoning district and just blocks from Bishop Arts. The site is positioned near the district’s dining, coffee, boutique, and entertainment offerings. Its four-unit configuration and existing residential layout support continued income-producing use, subject to buyer verification of zoning and redevelopment considerations.
Key Highlights
- 3,620 SF Prairie‑style quadplex
- Four units, each with 2 BDs and 1 BA
- Living room, dining area, and kitchen in every 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
$63,652
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
6.70%
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%
$1,273,040
$1.3M
Cap Rate 7%
$909,314
$909.3K
Cap Rate 9%
$707,244
$707.2K
Market Conditions
NOI Build-Up for 3,620 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
$101.2K $27.96/SF
− Vacancy
−$10.3K −$2.84/SF
EGI
$90.9K $25.12/SF
− OpEx
−$27.3K −$7.54/SF
NOI
$63.7K $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%
$1,273,040
Cap Rate 7%
$909,314
Cap Rate 9%
$707,244
Alternative Uses
Best Use
Multifamily LT 5
$909.3K
$795.7K – $1.06M
NOI $63,652 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$786.4K
$688.1K – $917.4K
NOI $55,046 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$4.34M
$3.80M – $5.07M
NOI $304,059 @ 7.0% cap · market cap 32.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,249
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?
Quadplex - Four residential units offer two-bedroom layouts, refreshed exterior paint, and covered outdoor areas.
Where is this quadplex located?
The property is located at 826 N Bishop Avenue Dallas, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3,620 SF Prairie‑style quadplex; Four units, each with 2 BDs and 1 BA; Living room, dining area, and kitchen in every unit
