Updated Duplex with Separate
New
For Sale
$599,000
15515 El Estado Drive, Dallas, TX 75248
Two-level layouts include private entrances and a mix of updated and tenant-occupied space.
Property Size2,784 SF
Days on Market3
Property Features for 15515 El Estado Drive
General Information
Standard status
Active
Size
2,784 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,706
Building Details
Building Size
2,784 SF
Year Built
1967
Buildings
1
Listing Agency:
Keller Williams Dallas Midtown
Listed By:
Graham Pearce · License #0505854
(214) 443-9300
Source:
Nilesrealtygroup
Added: Sep 18
Last Checked: Sep 20 at 11:51AM
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 Keller Williams Dallas Midtown
Investment Insights
Based on property information with market context.
This 2,784-square-foot duplex contains two separate residences, each with three bedrooms and two full bathrooms. Both sides have individual entrances, private living areas, and separate utilities. One residence includes vinyl flooring, a refreshed kitchen, stainless steel appliances, and an open living and dining arrangement. Its floor plan places one bedroom and a full bathroom downstairs, with two additional bedrooms and another full bathroom upstairs.
The second residence is occupied under an existing lease. The property is located in Dallas within Richardson ISD, with access to UT Dallas, major employers, shopping, dining, and commuter routes. The two-unit configuration supports continued operation as a rental property or occupancy of one residence while the other remains leased.
The second residence is occupied under an existing lease. The property is located in Dallas within Richardson ISD, with access to UT Dallas, major employers, shopping, dining, and commuter routes. The two-unit configuration supports continued operation as a rental property or occupancy of one residence while the other remains leased.
Key Highlights
- Full duplex totaling 2,784 square feet
- Each residence offers 3 bedrooms and 2 full bathrooms
- Separate entrances and individual utilities for each side
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
$48,952
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
8.17%
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%
$979,040
$979.0K
Cap Rate 7%
$699,314
$699.3K
Cap Rate 9%
$543,911
$543.9K
Market Conditions
NOI Build-Up for 2,784 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
$77.8K $27.96/SF
− Vacancy
−$7.9K −$2.84/SF
EGI
$69.9K $25.12/SF
− OpEx
−$21.0K −$7.54/SF
NOI
$49.0K $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%
$979,040
Cap Rate 7%
$699,314
Cap Rate 9%
$543,911
Alternative Uses
Best Use
Multifamily LT 5
$699.3K
$611.9K – $815.9K
NOI $48,952 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$604.8K
$529.2K – $705.6K
NOI $42,334 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$3.34M
$2.92M – $3.90M
NOI $233,840 @ 7.0% cap · market cap 39.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 75248, TX
38,210
Population
18,531
Households
2.1
Avg Household Size
41
Median Age
65%
College-Educated
97%
High-School Grad
7.4 sq mi
ZIP Area
5,164
Density / Sq Mi
$103,063
Median Household Income
$61,677
Median Earnings
$1,602
Median Rent
$543,000
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-level layouts include private entrances and a mix of updated and tenant-occupied space.
Where is this duplex located?
The property is located at 15515 El Estado Drive Dallas, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Full duplex totaling 2,784 square feet; Each residence offers 3 bedrooms and 2 full bathrooms; Separate entrances and individual utilities for each side
