Residential Income Property with
New
For Sale
$2,300,000
1931 N Prairie Avenue, Dallas, TX 75204
Built in 2019, the property includes garage access, balconies, and a courtyard.
Property Size8,292 SF
Price / SF$277.38
Days on Market2
Property Features for 1931 N Prairie Avenue
General Information
Standard status
Active
Size
8,292 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Fitzhugh-Capitol
Building Details
Year Built
2019
Listing Agency:
Texas Properties
(469) 701-1240
Listed By:
Cameron Johnson
(214) 886-3359
Source:
Mainstreethomeguide
Added: Nov 3
Last Checked: Nov 3 at 4:22AM
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 Texas Properties
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Investment Insights
Based on property information with market context.
Completed in 2019, this residential income property includes central air, a kitchen island, granite counters, a pantry, and walk-in closets. Other interior features include a dishwasher, disposal, microwave, refrigerator, washer, and dryer. The property also has balconies, a courtyard, wrought-iron features, and attached garage access.
The property occupies the corner of Prairie and Monarch in Dallas. Garage access includes a garage door opener and inside entry; additional parking and a shared driveway are also listed.
The property occupies the corner of Prairie and Monarch in Dallas. Garage access includes a garage door opener and inside entry; additional parking and a shared driveway are also listed.
Key Highlights
- Built in 2019
- Corner location at Prairie and Monarch in Dallas
- Attached garage with garage door opener and inside entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,088
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,521,760
$2.5M
Cap Rate 7%
$1,801,257
$1.8M
Cap Rate 9%
$1,400,978
$1.4M
Market Conditions
NOI Build-Up for 8,292 SF
Gross rent
$256.7K $30.96/SF
− Vacancy
−$27.5K −$3.31/SF
EGI
$229.3K $27.65/SF
− OpEx
−$103.2K −$12.44/SF
NOI
$126.1K $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 Rate 5%
$2,521,760
Cap Rate 7%
$1,801,257
Cap Rate 9%
$1,400,978
Alternative Uses
Best Use
Apartment 5plus
$1.80M
$1.58M – $2.10M
NOI $126,088 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.95M
$8.71M – $11.61M
NOI $696,480 @ 7.0% cap · market cap 30.28%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
2,155
Businesses Nearby
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Business Placement
Demographics for 75204, TX
34,012
Population
23,304
Households
1.5
Avg Household Size
31
Median Age
70%
College-Educated
95%
High-School Grad
2.6 sq mi
ZIP Area
13,082
Density / Sq Mi
$93,007
Median Household Income
$71,995
Median Earnings
$1,822
Median Rent
$451,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 2019, the property includes garage access, balconies, and a courtyard.
Where is this residential income property located?
The property is located at 1931 N Prairie Avenue Dallas, TX.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Built in 2019; Corner location at Prairie and Monarch in Dallas; Attached garage with garage door opener and inside entrance
