New-Construction
New
For Sale
$649,850
1641 & 1643 Faye St, Dallas, TX 75215
Each residence offers an open layout with three bedrooms and two-and-a-half baths.
Property Size3,536 SF
Price / SF$183.78
Days on Market2
Property Features for 1641 & 1643 Faye St
General Information
Standard status
Active
Size
3,536 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
wrought-iron security fencing
alarm system with cameras
privacy-fenced backyard
Building Details
Year Built
2026
Listing Agency:
CENTURY 21 Judge Fite Co.
Listed By:
Sara Thomas · License #0744778
(817) 960-9611
Source:
Thebryandavisgroup
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 2 at 8:08PM
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 CENTURY 21 Judge Fite Co.
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains two homes, each with three bedrooms, two-and-a-half bathrooms, and an open living plan. Kitchen details include a center island, floating shelves, a pot filler, and a dry bar with a wine refrigerator. The living room has a picture window, while the primary suite features vaulted ceilings, a private balcony, dual sinks, and a walk-in closet. Secondary bedrooms have large closets.
The property includes wrought-iron security fencing, an alarm system with cameras, and a backyard enclosed by a privacy fence. Its central Dallas setting provides access to I-30 and I-45.
The property includes wrought-iron security fencing, an alarm system with cameras, and a backyard enclosed by a privacy fence. Its central Dallas setting provides access to I-30 and I-45.
Key Highlights
- Two‑home duplex completed in 2026
- Each residence has 3 bedrooms and 2.5 bathrooms
- Open living plan with kitchen island, floating shelves, pot filler, and dry bar with wine refrigerator
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
$53,768
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
8.27%
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%
$1,075,360
$1.1M
Cap Rate 7%
$768,114
$768.1K
Cap Rate 9%
$597,422
$597.4K
Market Conditions
NOI Build-Up for 3,536 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
$109.5K $30.96/SF
− Vacancy
−$11.7K −$3.31/SF
EGI
$97.8K $27.65/SF
− OpEx
−$44.0K −$12.44/SF
NOI
$53.8K $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%
$1,075,360
Cap Rate 7%
$768,114
Cap Rate 9%
$597,422
Alternative Uses
Best Use
Multifamily LT 5
$888.2K
$777.2K – $1.04M
NOI $62,175 @ 7.0% cap · market cap 9.57%
Second Best
Apartment 5plus
$768.1K
$672.1K – $896.1K
NOI $53,768 @ 7.0% cap · market cap 8.27%
Theoretical Best
Office A
$4.24M
$3.71M – $4.95M
NOI $297,004 @ 7.0% cap · market cap 45.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Explore this area
Business Placement
Demographics for 75215, TX
18,806
Population
8,481
Households
2.2
Avg Household Size
37
Median Age
17%
College-Educated
73%
High-School Grad
7.7 sq mi
ZIP Area
2,442
Density / Sq Mi
$41,388
Median Household Income
$34,114
Median Earnings
$1,209
Median Rent
$137,700
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
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers an open layout with three bedrooms and two-and-a-half baths.
Where is this duplex located?
The property is located at 1641 & 1643 Faye St Dallas, TX.
What is the asking price?
The asking price for this property is $649,850.
What are key features of this property?
This property features: Two‑home duplex completed in 2026; Each residence has 3 bedrooms and 2.5 bathrooms; Open living plan with kitchen island, floating shelves, pot filler, and dry bar with wine refrigerator
