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    Triplex with Private Parking Title is generated by Realmo AI

    1509 W Page Avenue, Dallas, TX 75208

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    For Sale
    Under Contract
    $365,000

    MULTI_FAMILY - Dallas, TX

    Lot size:
    0.17 Acres
    Added:
    May 27, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 4 at 1:06 pm

    Property Features for 1509 W Page Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Bathroom 1, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 2
    Parking
    10
    Parking features
    Alley, On Street, Parking Lot, Driveway, Guest
    Interior features
    BuiltInFeatures, HighSpeedInternet, Loft, CableTv, WiredForSound
    Exterior features
    PrivateEntrance
    Fencing
    Privacy, Fenced
    Appliances
    SomeGasAppliances, Dishwasher, ElectricRange, ElectricWaterHeater, Disposal, PlumbedForGas
    Standard status
    Active Under Contract
    APN
    00000276907000000
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Description
    WEST SIDE ADDN BLK 3533 LOT 13
    Tax Annual Amount
    7345

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Wall Unit(s), Electric, Central Air, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1930
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Tile, Vinyl
    Building materials
    VinylSiding
    Roof type
    Composition

    We can help!

    Listing Contact
    Matthew Tanel

    Listing agent Matthew Tanel License #0711765

    Listing office Real Broker, LLC Dallas, TX

    Listing date May 27, 2026

    MLS# 21174597 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Converted 1930 single‑family home into a 3‑unit triplex with three 1‑bedroom, 1‑bath units, each with a private entrance (converted in 2020).
    • Large private parking area with alley access plus on‑street and guest parking.
    • Public utilities: public water and public sewer.
    • Central heating and cooling, including central air and wall unit cooling, with ceiling fans throughout.
    • Kitchen appliances include dishwasher, electric range, disposal, and units are plumbed for gas.
    • Vinyl siding construction with a composition roof.

    Overview

    This converted triplex was originally a single-family residence and was professionally reworked in 2020 into three separate 1-bedroom, 1-bath units. Each unit is designed with its own private entrance, supporting tenant privacy and everyday convenience. The property also benefits from recent cosmetic updates aimed at keeping near-term maintenance manageable for the next owner. With rental income already in place, the asset is positioned to support immediate cash flow while remaining an option for long-term rental portfolio growth.

    The property is located in Dallas and is described as being within walking distance of schools, parks, and daily amenities, which can support consistently steady rental demand. Tenants have access to a large private parking area with alley access, helping limit friction for residents and visitors.

    For investors seeking a practical, turnkey-style multifamily addition, this three-unit configuration offers straightforward rental management with individually entered units. The combination of established income, private entrances, and low-maintenance cosmetic improvements may appeal to buyers looking to add stability to their rental portfolio in a high-demand area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Collin
    State
    Texas
    Longitude
    -96.846351
    Latitude
    32.740507

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    FAQs

    What type of property is this?
    Triplex - Converted 2020 triplex offers three private-entry 1-bedroom units with low-maintenance updates and steady rental income potential.
    Where is this triplex located?
    The property is located at 1509 W Page Avenue Dallas, TX.
    What is the asking price?
    The asking price for this property is $365,000.
    What are key features of this property?
    This property features: Converted 1930 single‑family home into a 3‑unit triplex with three 1‑bedroom, 1‑bath units, each with a private entrance (converted in 2020).; Large private parking area with alley access plus on‑street and guest parking.; Public utilities: public water and public sewer.
    (214) 202-7615
    We can help!
    Listing Contact
    Matthew Tanel
    Real Estate License ID: 0711765
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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