Duplex with Attached
For Sale
$950,000
2315 S Vernon Avenue, Dallas, TX 75224
Two mirrored residences offer open living areas, private yards, attached garages, and upgraded kitchen finishes.
Property Size4,000 SF
Price / SF$237.50
Days on Market112
Property Features for 2315 S Vernon Avenue
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,672
Amenities
covered patios
built-in grills
private fenced yards
attached garages
dedicated office nooks
Building Details
Building Size
4,000 SF
Year Built
2025
Buildings
1
Listing Agency:
Compass RE Texas, LLC
Listed By:
Emily Ruth Cannon · License #0644272
(415) 525-9062
Source:
Nilesrealtygroup
Added: May 15
Changed: Sep 2
Last Checked: Sep 2 at 9:12PM
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 Compass RE Texas, LLC
Investment Insights
Based on property information with market context.
Built in 2025, this duplex contains two closely matched residences totaling approximately 4,000 square feet. The combined layout includes 6 bedrooms, 6 full bathrooms, and 2 half baths, with three ensuite bedrooms in each residence and a primary suite on the first floor. Open entertaining areas connect to kitchens equipped with oversized islands, quartz countertops, gas cooking, and custom cabinetry. White oak flooring, high ceilings, fireplaces, natural light, and dedicated office nooks add detail throughout the interiors.
Each residence also includes a covered patio, built-in grill, private fenced yard, attached garage, foam insulation, and tankless water heater. The property is near Wynnewood Village and Halperin Park, with Downtown Dallas described as just minutes away.
The mirrored configuration supports separate residential living while maintaining consistent finishes and amenities across both sides.
Each residence also includes a covered patio, built-in grill, private fenced yard, attached garage, foam insulation, and tankless water heater. The property is near Wynnewood Village and Halperin Park, with Downtown Dallas described as just minutes away.
The mirrored configuration supports separate residential living while maintaining consistent finishes and amenities across both sides.
Key Highlights
- Two‑residence duplex totaling approximately 4, 000 square feet
- Combined layout includes 6 bedrooms, 6 full bathrooms, and 2 half baths
- Each residence has three ensuite bedrooms and a first‑floor primary suite
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
$70,334
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
7.40%
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%
$1,406,680
$1.4M
Cap Rate 7%
$1,004,771
$1.0M
Cap Rate 9%
$781,489
$781.5K
Market Conditions
NOI Build-Up for 4,000 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
$111.8K $27.96/SF
− Vacancy
−$11.4K −$2.84/SF
EGI
$100.5K $25.12/SF
− OpEx
−$30.1K −$7.54/SF
NOI
$70.3K $17.58/SF
Area
Dallas, TX
Vacancy
10.16%
Lease Rate
$27.96 /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%
$1,406,680
Cap Rate 7%
$1,004,771
Cap Rate 9%
$781,489
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$879.2K – $1.17M
NOI $70,334 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$868.9K
$760.3K – $1.01M
NOI $60,824 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$4.80M
$4.20M – $5.60M
NOI $335,977 @ 7.0% cap · market cap 35.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
516
Businesses Nearby
Explore this area
Business Placement
Demographics for 75224, TX
33,766
Population
12,438
Households
2.7
Avg Household Size
32
Median Age
15%
College-Educated
69%
High-School Grad
5.7 sq mi
ZIP Area
5,924
Density / Sq Mi
$53,606
Median Household Income
$32,507
Median Earnings
$1,177
Median Rent
$213,100
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?
Duplex - Two mirrored residences offer open living areas, private yards, attached garages, and upgraded kitchen finishes.
Where is this duplex located?
The property is located at 2315 S Vernon Avenue Dallas, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two‑residence duplex totaling approximately 4, 000 square feet; Combined layout includes 6 bedrooms, 6 full bathrooms, and 2 half baths; Each residence has three ensuite bedrooms and a first‑floor primary suite
