Multifamily Apartment
For Sale
$1,080,000
2001 Carl Road, Irving, TX 75061
Multifamily apartment building near a highway and airport, with public remarks citing long-term occupants and easy care.
Property Size3,580 SF
Price / SF$301.68
Days on Market239
Property Features for 2001 Carl Road
General Information
Standard status
Active
Size
3,580 SF
Total Parking Spaces
20
Property subtype
Multi-Family / Apartment/5Plex+
Additional Details
Highway Access
Yes
Amenities
Electric
Laminate, Luxury Vinyl Plank
Electric Cooktop, Electric Oven, Microwave, Refrigerator
Other
No
Composition
One
1
Slab
Public Records
12
Brick
Building Details
Year Built
1962
Buildings
2
Listing Agency:
EXP REALTY
Listed By:
Teresa Tong · License #0600162
(214) 235-9416
Source:
Compass
Added: Jan 11
Changed: Aug 8
Last Checked: Jul 22 at 7:13AM
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 EXP REALTY
Investment Insights
Based on property information with market context.
This multifamily apartment building offers residential income property ownership under the apartment-building and multifamily property categories. Public remarks indicate the building is maintained with easy care and has long-term occupants.
The property is identified at 2001 Carl Road in Irving, Texas, and the listing notes convenient proximity to a highway, an airport, and major area companies. Interested parties should confirm current leasing, building details, and any operational specifics directly during due diligence.
The property is identified at 2001 Carl Road in Irving, Texas, and the listing notes convenient proximity to a highway, an airport, and major area companies. Interested parties should confirm current leasing, building details, and any operational specifics directly during due diligence.
Key Highlights
- 12‑unit brick multifamily apartment building built in 1962
- 1‑story layout with slab foundation and composition roof
- Electric heating and electric cooling
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
$54,437
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
5.04%
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%
$1,088,740
$1.1M
Cap Rate 7%
$777,671
$777.7K
Cap Rate 9%
$604,856
$604.9K
Market Conditions
NOI Build-Up for 3,580 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
$110.8K $30.96/SF
− Vacancy
−$11.9K −$3.31/SF
EGI
$99.0K $27.65/SF
− OpEx
−$44.5K −$12.44/SF
NOI
$54.4K $15.21/SF
Area
Irving, 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 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%
$1,088,740
Cap Rate 7%
$777,671
Cap Rate 9%
$604,856
Alternative Uses
Best Use
Apartment 5plus
$777.7K
$680.5K – $907.3K
NOI $54,437 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$918.1K
$803.4K – $1.07M
NOI $64,268 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Explore this area
Business Placement
Demographics for 75061, TX
55,828
Population
20,187
Households
2.8
Avg Household Size
33
Median Age
17%
College-Educated
66%
High-School Grad
11.6 sq mi
ZIP Area
4,813
Density / Sq Mi
$61,260
Median Household Income
$33,388
Median Earnings
$1,292
Median Rent
$228,400
Median Home Value
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?
Apartment building - Multifamily apartment building near a highway and airport, with public remarks citing long-term occupants and easy care.
Where is this apartment building located?
The property is located at 2001 Carl Road Irving, TX.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: 12‑unit brick multifamily apartment building built in 1962; 1‑story layout with slab foundation and composition roof; Electric heating and electric cooling
