5-Unit Apartment
New
For Sale
$2,300,000
1931 N Prairie Avenue, Dallas, TX 75204
ResidentialIncome, Dallas, TX
Property Size8,292 SF
Lot Size0.19 Acres
Price / SF$277.38
Days on Market1
Property Features for 1931 N Prairie Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
10
Bathrooms
15
Full bathrooms
10
Half bathrooms
5
Rooms
Bathroom 14, Bedroom 6, Bedroom 10, Bedroom 8, Bathroom 8, Bathroom 6, Bathroom 13, Bedroom 9, Bedroom 1, Bathroom 5, Bathroom 9, Bathroom 2, Bathroom 7, Bathroom 15, Bathroom 3, Bathroom 10, Bedroom 3, Bedroom 2, Bathroom 1, Bathroom 4, Bathroom 12, Bedroom 7, Bathroom 11, Bedroom 5, Bedroom 4
Parking
10
Parking features
Driveway, Open, Garage
Interior features
BuiltInFeatures, DecorativeDesignerLightingFixtures, GraniteCounters, HighSpeedInternet, KitchenIsland, MultipleMasterSuites, MultipleStaircases, OpenFloorplan, Pantry, CableTv, WalkInClosets
Exterior features
Balcony, Courtyard, Lighting
Appliances
Dryer, Dishwasher, Disposal, Microwave, Refrigerator, VentedExhaustFan, Washer
Subdivision
ACS 0.191
Elementary school
Chavez
Middle school
Piedmont Global Academy
High school
North Dallas
Elementary school district
Dallas ISD
Middle school district
Dallas ISD
High school district
Dallas ISD
Directions
Property is on the corner at Prairie and Monarch
Standard status
Active
APN
00C57790000A00005
Size
8,292 SF
Lot size
0.19 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
PRAIRIE CORNER TOWNHOMES CONDOS BLK C/653 LT
Tax Annual Amount
14589
Legal Description
PRAIRIE CORNER TOWNHOMES CONDOS BLK C/653 LT
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
secured fenced artificial turf courtyard
in-unit washer/dryer
Building Details
Year built
2019
Floors in Building
3
Number of units
5
Flooring type
Tile, Wood
Building materials
Brick, Stucco, WoodSiding
Roof type
Composition
Listing Agency:
The Michael Group
Listed By:
Bruce Yamini · License #0649702
(214) 692-6400
Added: Nov 1
Last Checked: Nov 1 at 5:06PM
MLS# 21424166
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.
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Investment Insights
Based on property information with market context.
Built in 2019, this Dallas apartment property contains five residences totaling 8,292 square feet on a 0.191-acre parcel. Each home offers two bedrooms, 2.5 bathrooms, an open layout, wood flooring, contemporary kitchens, and a washer and dryer. A private two-car garage connects directly to each residence. The property is fully leased and has a five-year income history.
A secured, fenced courtyard with artificial turf serves as shared outdoor space. The property is near Uptown, Downtown, West Village, Klyde Warren Park, the Arts District, Central Expressway, SMU, major hospitals, and Lower Greenville. Short-term rentals are allowed, and the five residences may be held together or sold individually.
A secured, fenced courtyard with artificial turf serves as shared outdoor space. The property is near Uptown, Downtown, West Village, Klyde Warren Park, the Arts District, Central Expressway, SMU, major hospitals, and Lower Greenville. Short-term rentals are allowed, and the five residences may be held together or sold individually.
Key Highlights
- Five residences, each with 2 bedrooms and 2.5 bathrooms
- 8,292 square feet on a 0.191‑acre parcel
- Built in 2019; 100% leased with a five‑year income history
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,155
Businesses Nearby
Explore this area
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
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
Frequently Asked Questions
What type of property is this?
Apartment building - Five leased residences feature private garages and a shared secured courtyard in Dallas.
Where is this apartment building 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: Five residences, each with 2 bedrooms and 2.5 bathrooms; 8,292 square feet on a 0.191‑acre parcel; Built in 2019; 100% leased with a five‑year income history
