Three-Unit Property with Separate
For Sale
$425,000
1938 El Paso Street, Grand Prairie, TX 75051
Three-unit property with a three-bedroom main residence and two separate two-bedroom apartments.
Property Size3,303 SF
Price / SF$128.67
Days on Market52
Property Features for 1938 El Paso Street
General Information
Standard status
Active
Size
3,303 SF
Property subtype
Triplex
Building Details
Year Built
1964
Listing Agency:
OnTrack Realty LLC
(214) 293-4325
Listed By:
Rose Ruiz · License #0672759
(214) 900-4217
Source:
Lonestarluxuryrealty
Added: Aug 17
Changed: Sep 25
Last Checked: Oct 7 at 12:54PM
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 OnTrack Realty LLC
Investment Insights
Based on property information with market context.
Located at 1938 El Paso Street in Grand Prairie, Texas, this three-unit property combines a main residence with two separate apartments. The 1,295-square-foot house includes three bedrooms, three bathrooms, a dining area, and a kitchen. Each 1,004-square-foot apartment offers two private bedrooms, one bathroom, and a kitchenette.
The two apartment units are rented on a month-to-month basis, while the overall property contains 3,303 square feet. Its layout also supports separate household use, with independent apartment spaces alongside the larger main residence. Parks, schools, shopping centers, and major highways are identified as nearby amenities and access points.
The two apartment units are rented on a month-to-month basis, while the overall property contains 3,303 square feet. Its layout also supports separate household use, with independent apartment spaces alongside the larger main residence. Parks, schools, shopping centers, and major highways are identified as nearby amenities and access points.
Key Highlights
- 3,303sqft property with three total residential units
- 1,295sqft main house with 3 bedrooms and 3 bathrooms
- Two separate 1,004 sqft apartments, each with 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,774
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,480
$655.5K
Cap Rate 7%
$468,200
$468.2K
Cap Rate 9%
$364,156
$364.2K
Market Conditions
NOI Build-Up for 3,303 SF
Gross rent
$49.5K $15.00/SF
− Vacancy
−$2.7K −$0.83/SF
EGI
$46.8K $14.17/SF
− OpEx
−$14.0K −$4.25/SF
NOI
$32.8K $9.92/SF
Area
Grand Prairie, TX
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,480
Cap Rate 7%
$468,200
Cap Rate 9%
$364,156
Alternative Uses
Best Use
Multifamily LT 5
$468.2K
$409.7K – $546.2K
NOI $32,774 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$435.8K
$381.4K – $508.5K
NOI $30,508 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$928.6K
$812.5K – $1.08M
NOI $65,003 @ 7.0% cap · market cap 15.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Explore this area
Business Placement
Demographics for 75051, TX
40,243
Population
14,139
Households
2.8
Avg Household Size
32
Median Age
15%
College-Educated
68%
High-School Grad
12.6 sq mi
ZIP Area
3,194
Density / Sq Mi
$53,124
Median Household Income
$34,029
Median Earnings
$1,183
Median Rent
$196,700
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with a three-bedroom main residence and two separate two-bedroom apartments.
Where is this triplex located?
The property is located at 1938 El Paso Street Grand Prairie, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,303sqft property with three total residential units; 1,295sqft main house with 3 bedrooms and 3 bathrooms; Two separate 1,004 sqft apartments, each with 2 bedrooms and 1 bathroom
