Vacant Two-Unit
215 Ne 22nd St, Grand Prairie, TX 75050
For Sale
$229,900
Both residences are unoccupied, giving the next owner flexibility to plan renovations and occupancy without existing tenants.
Property Size1,536 SF
Lot Size0.22 Acres
Price / SF$149.67
Days on Market12
Property Features for 215 Ne 22nd St
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Highway Access
Multifamily Units
Taxes and HOA fees
Annual Taxes
Listing Agency:
Rendon Realty, LLC
Listed By:
Suha Al-Nazer · License #0676843
(817) 592-3008
Source:
Exprealty
Added: Oct 29
Changed: Nov 7
Last Checked: Nov 8 at 9:20AM
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 Rendon Realty, LLC
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Investment Insights
Based on property information with market context.
This two-unit duplex contains approximately 1,536 square feet on a 9,714-square-foot lot. Both units are vacant, and the property is presented as a renovation project, allowing a new owner to determine the work and occupancy plan. The separate residences also accommodate rental use or living in one unit while occupying the other.
The property is at 215 NE 22nd St in Grand Prairie, with access to major highways, shopping, dining, and employment centers across the Dallas–Fort Worth Metroplex.
The property is at 215 NE 22nd St in Grand Prairie, with access to major highways, shopping, dining, and employment centers across the Dallas–Fort Worth Metroplex.
Key Highlights
- Two separate residential units, both currently vacant
- Approximately 1,536 square feet of building area
- 9,714‑square‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,241
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$304,820
$304.8K
Cap Rate 7%
$217,729
$217.7K
Cap Rate 9%
$169,344
$169.3K
Market Conditions
NOI Build-Up for 1,536 SF
Gross rent
$23.0K $15.00/SF
− Vacancy
−$1.3K −$0.83/SF
EGI
$21.8K $14.17/SF
− OpEx
−$6.5K −$4.25/SF
NOI
$15.2K $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%
$304,820
Cap Rate 7%
$217,729
Cap Rate 9%
$169,344
Alternative Uses
Best Use
Multifamily LT 5
$217.7K
$190.5K – $254.0K
NOI $15,241 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$202.7K
$177.3K – $236.5K
NOI $14,187 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$431.8K
$377.9K – $503.8K
NOI $30,228 @ 7.0% cap · market cap 13.15%
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
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
Explore this area
Business Placement
Demographics for 75050, TX
43,531
Population
17,286
Households
2.5
Avg Household Size
33
Median Age
23%
College-Educated
79%
High-School Grad
25.8 sq mi
ZIP Area
1,687
Density / Sq Mi
$70,484
Median Household Income
$39,322
Median Earnings
$1,412
Median Rent
$224,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Dallas County, TX
Properties on Market for Duplexes in Dallas County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are unoccupied, giving the next owner flexibility to plan renovations and occupancy without existing tenants.
Where is this duplex located?
The property is located at 215 Ne 22nd St Grand Prairie, TX.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two separate residential units, both currently vacant; Approximately 1,536 square feet of building area; 9,714‑square‑foot lot
