Four-Unit Duplex
For Sale
$410,000
823-827 Dallas Street, Pleasanton, TX 78064
Two adjoining residential income buildings with updated interiors, separate kitchens, and covered outdoor areas.
Property Size3,712 SF
Price / SF$110.45
Days on Market517
Property Features for 823-827 Dallas Street
General Information
Standard status
Active
Size
3,712 SF
Property subtype
Multi-Family / One Story
Net Operating Income
$32,162
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,760
Amenities
Vinyl
Composition
Slab
Conventional, FHA, VA, Cash, Investors OK
Covered Patio, Double Pane Windows, Mature Trees, Mature Trees (ext feat)
Building Details
Year Built
2000
Buildings
2
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 31
Last Checked: Aug 30 at 11:26AM
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 property comprises two adjoining buildings at 823 and 827 Dallas Street, with four total units and 3,712 square feet of property size. Each unit includes two bedrooms, one full bathroom, a living room, and a kitchen. Vinyl interior finishes, covered patios, double-pane windows, mature trees, composition exteriors, and slab foundations are included among the property features. Built in 2000, the buildings offer a consistent residential layout across all units.
Recent work includes a stove, vent hood, kitchen sink faucet, and interior repainting at 823 Dallas in 2025, along with an AC compressor and run capacitor installed in 2023. Improvements at 827 Dallas include interior paint, a refrigerator, and two complete HVAC system replacements completed in 2021. Conventional, FHA, VA, cash, and investor financing are identified as acceptable transaction options.
Recent work includes a stove, vent hood, kitchen sink faucet, and interior repainting at 823 Dallas in 2025, along with an AC compressor and run capacitor installed in 2023. Improvements at 827 Dallas include interior paint, a refrigerator, and two complete HVAC system replacements completed in 2021. Conventional, FHA, VA, cash, and investor financing are identified as acceptable transaction options.
Key Highlights
- Four total residential units across two duplex buildings
- 3,712 square feet of property size; built in 2000
- Each unit has 2 bedrooms, 1 full bathroom, living room, and kitchen
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
$28,455
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%
$569,100
$569.1K
Cap Rate 7%
$406,500
$406.5K
Cap Rate 9%
$316,167
$316.2K
Market Conditions
NOI Build-Up for 3,712 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
$45.9K $12.36/SF
− Vacancy
−$5.2K −$1.41/SF
EGI
$40.6K $10.95/SF
− OpEx
−$12.2K −$3.29/SF
NOI
$28.5K $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%
$569,100
Cap Rate 7%
$406,500
Cap Rate 9%
$316,167
Alternative Uses
Best Use
Multifamily LT 5
$406.5K
$355.7K – $474.3K
NOI $28,455 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$360.3K
$315.3K – $420.4K
NOI $25,224 @ 7.0% cap · market cap 6.15%
Theoretical Best
Hotel Hospitality
$2.80M
$2.45M – $3.26M
NOI $195,715 @ 7.0% cap · market cap 47.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
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 - Two adjoining residential income buildings with updated interiors, separate kitchens, and covered outdoor areas.
Where is this duplex located?
The property is located at 823-827 Dallas Street Pleasanton, TX.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Four total residential units across two duplex buildings; 3,712 square feet of property size; built in 2000; Each unit has 2 bedrooms, 1 full bathroom, living room, and kitchen
