Leased Residential
New
For Sale
$650,000
1414 Record Crossing Road, Dallas, TX 75235
Three occupied residences provide a leased configuration across the property.
Property Size3,680 SF
Price / SF$176.63
Days on Market3
Property Features for 1414 Record Crossing Road
General Information
Standard status
Active
Size
3,680 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$55,020
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
2004
Tenancy
Multi
Listing Agency:
Corey Simpson & Associates
(945) 349-9179
Listed By:
Cameron Johnson
(214) 886-3359
Source:
Mainstreethomeguide
Added: Oct 1
Last Checked: Oct 2 at 7:50PM
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 Corey Simpson & Associates
Investment Insights
Based on property information with market context.
Built in 2004, this Dallas triplex contains three units within 3,680 square feet. All three units are currently leased, and the property is located at 1414 Record Crossing Road in the 75235 ZIP code.
The property is near UT Southwestern Medical Center, Parkland Memorial Hospital, and Children’s Medical Center. Love Field, Downtown Dallas, and major highways are also cited as accessible from the property.
The property is near UT Southwestern Medical Center, Parkland Memorial Hospital, and Children’s Medical Center. Love Field, Downtown Dallas, and major highways are also cited as accessible from the property.
Key Highlights
- Three‑unit residential property; all units are leased
- 3,680 square feet across the triplex
- Built in 2004
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
$55,958
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
8.61%
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%
$1,119,160
$1.1M
Cap Rate 7%
$799,400
$799.4K
Cap Rate 9%
$621,756
$621.8K
Market Conditions
NOI Build-Up for 3,680 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
$113.9K $30.96/SF
− Vacancy
−$12.2K −$3.31/SF
EGI
$101.7K $27.65/SF
− OpEx
−$45.8K −$12.44/SF
NOI
$56.0K $15.21/SF
Area
Dallas, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,119,160
Cap Rate 7%
$799,400
Cap Rate 9%
$621,756
Alternative Uses
Best Use
Multifamily LT 5
$924.4K
$808.8K – $1.08M
NOI $64,707 @ 7.0% cap · market cap 9.95%
Second Best
Apartment 5plus
$799.4K
$699.5K – $932.6K
NOI $55,958 @ 7.0% cap · market cap 8.61%
Theoretical Best
Office A
$4.42M
$3.86M – $5.15M
NOI $309,099 @ 7.0% cap · market cap 47.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,308
Businesses Nearby
Explore this area
Business Placement
Demographics for 75235, TX
19,153
Population
9,983
Households
1.9
Avg Household Size
33
Median Age
45%
College-Educated
77%
High-School Grad
6.7 sq mi
ZIP Area
2,859
Density / Sq Mi
$60,817
Median Household Income
$43,700
Median Earnings
$1,631
Median Rent
$283,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied residences provide a leased configuration across the property.
Where is this triplex located?
The property is located at 1414 Record Crossing Road Dallas, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three‑unit residential property; all units are leased; 3,680 square feet across the triplex; Built in 2004
