Triplex with Separate
New
For Sale
$425,000
1938 El Paso Street, Grand Prairie, TX 75051
MULTI_FAMILY - Grand Prairie, TX
Property Size3,303 SF
Lot Size0.21 Acres
Price / SF$128.67
Days on Market2
Property Features for 1938 El Paso Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 6, Bedroom 4, Bathroom 1, Bathroom 4, Bathroom 2, Bedroom 7, Bedroom 1, Bathroom 5, Bedroom 3
Parking
2
Parking features
Driveway
Interior features
GraniteCounters
Appliances
Dishwasher, ElectricRange, Disposal, GasWaterHeater, Microwave
Subdivision
Dalworth Park
Elementary school
Daniels
Middle school
Adams
High school
Grand Prairie
Elementary school district
Grand Prairie ISD
Middle school district
Grand Prairie ISD
High school district
Grand Prairie ISD
Directions
From State HWY 161N Take W Jefferson St. to El Paso St. 4min Merge onto State Hwy 161 N Turn Left onto W Jefferson St. Turen Left onto SW 19th St, Turn right at the 3rd cross street onto El Paso St. Home will be on the Right. Use GPS.
Standard status
Active
APN
280525011311R0000
Size
3,303 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
DALWORTH PARK BLK 113 W 36' LT 11 & PT ABND S
Tax Annual Amount
5281
Legal Description
DALWORTH PARK BLK 113 W 36' LT 11 & PT ABND S
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1964
Floors in Building
2
Number of units
3
Flooring type
Laminate, Carpet
Building materials
Brick
Roof type
Composition
Listing Agency:
OnTrack Realty LLC
(214) 293-4325
Listed By:
Rose Ruiz · License #0672759
(214) 293-4325
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 9:06PM
MLS# 21355102
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.
Investment Insights
Based on property information with market context.
This triplex contains 3,303 square feet across a 1,295-square-foot main residence and two additional 1,004-square-foot apartments. The primary home includes three bedrooms, three bathrooms, a dining area, and a kitchen. Each separate apartment offers two bedrooms, one bathroom, and a kitchenette, creating distinct living spaces within the property. The units are rented on a month-to-month basis.
Located at 1938 El Paso Street in Grand Prairie, the property occupies 0.207 acres and includes a driveway for parking. Construction features include brick exterior walls, composition roofing, laminate and carpet flooring, central heating, central air, public water, and public sewer. Interior finishes and equipment include granite counters, a dishwasher, electric range, disposal, gas water heater, and microwave.
Located at 1938 El Paso Street in Grand Prairie, the property occupies 0.207 acres and includes a driveway for parking. Construction features include brick exterior walls, composition roofing, laminate and carpet flooring, central heating, central air, public water, and public sewer. Interior finishes and equipment include granite counters, a dishwasher, electric range, disposal, gas water heater, and microwave.
Key Highlights
- 3,303‑square‑foot triplex on a 0.207‑acre lot
- 1,295‑square‑foot main residence with 3 bedrooms and 3 bathrooms
- Two separate 1,004‑square‑foot apartments
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
$32,774
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
7.71%
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%
$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
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
$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 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%
$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
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
495
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units combine a primary home with two private apartments and separate kitchenettes.
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: 3,303‑square‑foot triplex on a 0.207‑acre lot; 1,295‑square‑foot main residence with 3 bedrooms and 3 bathrooms; Two separate 1,004‑square‑foot apartments
