Updated Duplex with Covered
For Sale
$205,000
823 Dallas Street, Pleasanton, TX 78064
Well-maintained duplex with matching layouts, recent interior improvements, and covered outdoor areas.
Property Size1,856 SF
Price / SF$110.45
Days on Market515
Property Features for 823 Dallas Street
General Information
Standard status
Active
Size
1,856 SF
Property subtype
Multi-Family / One Story
Net Operating Income
$15,438
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,880
Amenities
Vinyl
Composition
Slab
Conventional, Cash, Investors OK
Covered Patio, Double Pane Windows, Mature Trees, Mature Trees (ext feat)
Building Details
Year Built
2000
Listing Agency:
Shahan Real Estate
(830) 200-9431
Listed By:
Anna Shahan · License #577355
(830) 200-9431
Source:
Compass
Added: Apr 3, 2025
Changed: Aug 30
Last Checked: Aug 30 at 6:08AM
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 Shahan Real Estate
Investment Insights
Based on property information with market context.
This duplex, completed in 2000, contains 1,856 square feet across two matching residential units. Each unit includes 2 bedrooms, 1 full bathroom, a living area, and a kitchen, with vinyl flooring and covered patio space. Double-pane windows, mature trees, composition construction, and a slab foundation are also part of the property’s existing improvements.
Recent work includes a stove, vent hood, kitchen sink faucet, and fresh paint throughout the walls, doors, and trim in 2025. A new AC compressor and run capacitor were installed in 2023. Both units have maintained consistent occupancy. The property is located at 823 Dallas Street in Pleasanton, Texas. Showings are available by appointment, and tenant privacy is requested.
Recent work includes a stove, vent hood, kitchen sink faucet, and fresh paint throughout the walls, doors, and trim in 2025. A new AC compressor and run capacitor were installed in 2023. Both units have maintained consistent occupancy. The property is located at 823 Dallas Street in Pleasanton, Texas. Showings are available by appointment, and tenant privacy is requested.
Key Highlights
- Two matching units, each with 2 bedrooms, 1 full bathroom, living area, and kitchen
- 1,856 square feet total; built in 2000
- 2025 improvements include stove, vent hood, kitchen faucet, and fresh paint
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
$14,227
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
6.94%
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%
$284,540
$284.5K
Cap Rate 7%
$203,243
$203.2K
Cap Rate 9%
$158,078
$158.1K
Market Conditions
NOI Build-Up for 1,856 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
$22.9K $12.36/SF
− Vacancy
−$2.6K −$1.41/SF
EGI
$20.3K $10.95/SF
− OpEx
−$6.1K −$3.29/SF
NOI
$14.2K $7.67/SF
Area
Atascosa County, TX
Vacancy
11.40%
Lease Rate
$12.36 /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%
$284,540
Cap Rate 7%
$203,243
Cap Rate 9%
$158,078
Alternative Uses
Best Use
Multifamily LT 5
$203.2K
$177.8K – $237.1K
NOI $14,227 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$180.2K
$157.7K – $210.2K
NOI $12,612 @ 7.0% cap · market cap 6.15%
Theoretical Best
Hotel Hospitality
$1.40M
$1.22M – $1.63M
NOI $97,858 @ 7.0% cap · market cap 47.74%
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
231
Businesses Nearby
Explore this area
Business Placement
Demographics for 78064, TX
15,710
Population
6,179
Households
2.5
Avg Household Size
38
Median Age
21%
College-Educated
83%
High-School Grad
281.4 sq mi
ZIP Area
56
Density / Sq Mi
$69,407
Median Household Income
$36,185
Median Earnings
$1,109
Median Rent
$216,300
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 matching layouts, recent interior improvements, and covered outdoor areas.
Where is this duplex located?
The property is located at 823 Dallas Street Pleasanton, TX.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Two matching units, each with 2 bedrooms, 1 full bathroom, living area, and kitchen; 1,856 square feet total; built in 2000; 2025 improvements include stove, vent hood, kitchen faucet, and fresh paint
