Renovated Duplex with Individual
For Sale
$298,500
1815 W Brooklyn Ave, Dallas, TX 75208
The property combines updated finishes, separate HVAC systems, and one occupied residence with another available.
Property Size1,164 SF
Price / SF$256.44
Days on Market34
Property Features for 1815 W Brooklyn Ave
General Information
Standard status
Active
Size
1,164 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1924
Buildings
1
Listing Agency:
Fathom Realty LLC
(888) 455-6040
Listed By:
Terrance Phillips · License #0692761
Source:
Cityupgroup
Added: Jul 29
Changed: Aug 28
Last Checked: Aug 30 at 6:52PM
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 Fathom Realty LLC
Investment Insights
Based on property information with market context.
This full duplex contains two one-bedroom, one-bath units within 1,164 square feet. Both residences feature refreshed kitchens and bathrooms, granite countertops, luxury vinyl plank flooring, Andersen windows, fresh paint, and individual HVAC systems. A new roof has also been completed, while the property’s 1924 construction provides established residential character alongside the recent updates. One unit is occupied and generating rental income; the other is vacant for a future occupant or tenant.
The duplex is located at 1815 W Brooklyn Ave in Dallas’ North Oak Cliff area, near Bishop Arts District, shopping, dining, entertainment, Downtown Dallas, and major highways. Its proximity to restaurants, coffee shops, boutiques, and nightlife places the property within an active urban setting.
The duplex is located at 1815 W Brooklyn Ave in Dallas’ North Oak Cliff area, near Bishop Arts District, shopping, dining, entertainment, Downtown Dallas, and major highways. Its proximity to restaurants, coffee shops, boutiques, and nightlife places the property within an active urban setting.
Key Highlights
- Two‑unit duplex with 1,164 square feet total
- Each unit includes 1 bedroom and 1 bathroom
- Updated kitchens and baths with granite countertops
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
$20,467
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
6.86%
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%
$409,340
$409.3K
Cap Rate 7%
$292,386
$292.4K
Cap Rate 9%
$227,411
$227.4K
Market Conditions
NOI Build-Up for 1,164 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
$32.5K $27.96/SF
− Vacancy
−$3.3K −$2.84/SF
EGI
$29.2K $25.12/SF
− OpEx
−$8.8K −$7.54/SF
NOI
$20.5K $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%
$409,340
Cap Rate 7%
$292,386
Cap Rate 9%
$227,411
Alternative Uses
Best Use
Multifamily LT 5
$292.4K
$255.8K – $341.1K
NOI $20,467 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$252.9K
$221.3K – $295.0K
NOI $17,700 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,769 @ 7.0% cap · market cap 32.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
973
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 - The property combines updated finishes, separate HVAC systems, and one occupied residence with another available.
Where is this duplex located?
The property is located at 1815 W Brooklyn Ave Dallas, TX.
What is the asking price?
The asking price for this property is $298,500.
What are key features of this property?
This property features: Two‑unit duplex with 1,164 square feet total; Each unit includes 1 bedroom and 1 bathroom; Updated kitchens and baths with granite countertops
