Remodeled Fourplex with Rear
New
For Sale
$880,000
1921 & 1923 & 1925 & 1927 W 10th Street, Dallas, TX 75208
Remodeled fourplex with individually metered utilities, rear parking, and a shared fenced side yard.
Property Size4,038 SF
Price / SF$217.93
Days on Market5
Property Features for 1921 & 1923 & 1925 & 1927 W 10th Street
General Information
Standard status
Active
Size
4,038 SF
Total Parking Spaces
4
Property subtype
Quadruplex
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/1BA, 2 x 2BR/1BA
Multifamily Units
4
Additional Details
Furnished
No
Amenities
hardwood floors
granite countertops
washer/dryer connections
storage room
fenced side yard
terrace
Building Details
Building Size
4,038 SF
Year Built
1925
Listing Agency:
Great Real Estate, Inc.
Listed By:
Maria Madigan · License #0592131
(214) 532-4009
Source:
Nilesrealtygroup
Added: Sep 16
Changed: Sep 19
Last Checked: Sep 19 at 12:22PM
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 Great Real Estate, Inc.
Investment Insights
Based on property information with market context.
This Dallas fourplex contains approximately 4,038 SF of living space across four separately addressed units. The upstairs residences each include three bedrooms and one bathroom, while the downstairs residences each offer two bedrooms and one bathroom. Unit interiors feature living and dining areas, hardwood flooring, tiled kitchens and bathrooms, pantries, storage rooms, and full-size washer and dryer connections. Plumbing, electrical, HVAC, windows, flooring, fixtures, and granite countertops have been replaced. Utilities are individually metered.
Each residence has rear access, with parking for four vehicles, and the property also provides a shared fenced side yard. The two upper units include rear terraces with direct access to the back area. The property is near Bishop Arts, approximately 6 minutes from Methodist Hospital and 4 miles from downtown Dallas, with access to I-30 and I-35. Built in 1925, the property is offered as-is.
Each residence has rear access, with parking for four vehicles, and the property also provides a shared fenced side yard. The two upper units include rear terraces with direct access to the back area. The property is near Bishop Arts, approximately 6 minutes from Methodist Hospital and 4 miles from downtown Dallas, with access to I-30 and I-35. Built in 1925, the property is offered as-is.
Key Highlights
- Four‑unit property with approximately 4,038 SF of total living space
- Two 3‑bedroom, 1‑bath upstairs units and two 2‑bedroom, 1‑bath downstairs units
- Remodeled with updated plumbing, electrical, HVAC, windows, flooring, fixtures, and granite countertops
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
$71,002
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
8.07%
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%
$1,420,040
$1.4M
Cap Rate 7%
$1,014,314
$1.0M
Cap Rate 9%
$788,911
$788.9K
Market Conditions
NOI Build-Up for 4,038 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
$112.9K $27.96/SF
− Vacancy
−$11.5K −$2.84/SF
EGI
$101.4K $25.12/SF
− OpEx
−$30.4K −$7.54/SF
NOI
$71.0K $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%
$1,420,040
Cap Rate 7%
$1,014,314
Cap Rate 9%
$788,911
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$887.5K – $1.18M
NOI $71,002 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$877.2K
$767.5K – $1.02M
NOI $61,402 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$4.85M
$4.24M – $5.65M
NOI $339,169 @ 7.0% cap · market cap 38.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
994
Businesses Nearby
Explore this area
Business Placement
Demographics for 75208, TX
29,446
Population
13,655
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
76%
High-School Grad
6.1 sq mi
ZIP Area
4,827
Density / Sq Mi
$76,502
Median Household Income
$48,460
Median Earnings
$1,589
Median Rent
$415,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Remodeled fourplex with individually metered utilities, rear parking, and a shared fenced side yard.
Where is this quadplex located?
The property is located at 1921 & 1923 & 1925 & 1927 W 10th Street Dallas, TX.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Four‑unit property with approximately 4,038 SF of total living space; Two 3‑bedroom, 1‑bath upstairs units and two 2‑bedroom, 1‑bath downstairs units; Remodeled with updated plumbing, electrical, HVAC, windows, flooring, fixtures, and granite countertops
