Updated Duplex with Separate
For Sale
Under Contract
$599,000
15529 El Estado Drive, Dallas, TX 75248
ResidentialIncome, Dallas, TX
Property Size2,784 SF
Lot Size0.24 Acres
Price / SF$215.16
Days on Market45
Property Features for 15529 El Estado Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 6, Bathroom 4, Bedroom 2
Parking
4
Parking features
Carport
Patio and Porch features
Patio
Interior features
Pantry, CableTv, WalkInClosets
Exterior features
Lighting, RainGutters
Appliances
Dishwasher, ElectricCooktop, ElectricOven, Disposal
Subdivision
Richardson Heights Estates West Re
Lot features
Interior Lot, Few Trees
Elementary school
Spring Creek
Middle school
Westwood
High school
Richardson
Elementary school district
Richardson ISD
Middle school district
Richardson ISD
High school district
Richardson ISD
Directions
Use GPS.
Standard status
Active Under Contract
APN
00000799324000000
Size
2,784 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
RICHARDSON HEIGHTS ESTS WEST REV BLK 36/8196
Tax Annual Amount
10706
Legal Description
RICHARDSON HEIGHTS ESTS WEST REV BLK 36/8196
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air, Electric, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1967
Floors in Building
2
Number of units
2
Flooring type
Laminate, Carpet
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Dallas Midtown · Keller Williams Realty
(214) 526-4663
Listed By:
Graham Pearce · License #0505854
(214) 526-4663
Added: Jul 17
Changed: Aug 19
Last Checked: Aug 30 at 11:06PM
MLS# 21317328
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.
Investment Insights
Based on property information with market context.
This 2,784-square-foot duplex contains two separate residences, each arranged with three bedrooms and two full bathrooms. Both sides have private entrances and individual utilities. One unit has been updated with vinyl flooring, a refreshed kitchen, stainless steel appliances, and an open living and dining layout. Its floor plan places a bedroom and full bathroom downstairs, with two additional bedrooms and another full bathroom upstairs. The second residence is occupied under an existing lease.
The property occupies 0.236 acres in Dallas, Texas, within Richardson ISD. Its location provides access to UT Dallas, area employers, shopping, dining, and commuter routes. Additional features include brick construction, carport parking, patios, central heating and cooling, public water, and public sewer.
The property occupies 0.236 acres in Dallas, Texas, within Richardson ISD. Its location provides access to UT Dallas, area employers, shopping, dining, and commuter routes. Additional features include brick construction, carport parking, patios, central heating and cooling, public water, and public sewer.
Key Highlights
- 2,784‑square‑foot duplex with two separate residences
- Each unit offers 3 bedrooms and 2 full bathrooms
- Separate entrances and individual utilities for both units
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
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
761
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 individually serviced residences include private living areas, with one side leased and the other recently refreshed.
Where is this duplex located?
The property is located at 15529 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: 2,784‑square‑foot duplex with two separate residences; Each unit offers 3 bedrooms and 2 full bathrooms; Separate entrances and individual utilities for both units
