Multifamily Property with Electric
For Sale
$1,500,000
2401 Berwick Avenue, Dallas, TX 75203
Multifamily property in Dallas with electric cooling, cooking, and refrigeration equipment.
Property Size3,960 SF
Price / SF$378.79
Days on Market214
Property Features for 2401 Berwick Avenue
General Information
Standard status
Active
Size
3,960 SF
Total Parking Spaces
16
Property subtype
Multi-Family / Apartment/5Plex+
Amenities
Wall/Window Unit(s), Window Unit(s)
Electric
Carpet, Ceramic Tile, Tile
Disposal, Electric Cooktop, Electric Range, Refrigerator
Cable TV Available
No
Asphalt
Two
2
Slab
Assessor
16
Brick, Frame, Wood
Building Details
Year Built
1951
Buildings
1
Listing Agency:
Onyx Legacy Realty LLC
Listed By:
Mark Allen · License #0589645
(817) 723-4274
Source:
Compass
Added: Feb 12
Changed: Sep 13
Last Checked: Sep 13 at 11:13AM
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 Onyx Legacy Realty LLC
Investment Insights
Based on property information with market context.
This multifamily property was built in 1951 and includes electric wall or window-unit cooling. Interior equipment includes a disposal, electric cooktop, electric range, and refrigerator.
The property is located at 2401 Berwick Avenue in Dallas, Texas, within Dallas County. Common exterior features are present.
The property is located at 2401 Berwick Avenue in Dallas, Texas, within Dallas County. Common exterior features are present.
Key Highlights
- Built in 1951
- Electric wall or window‑unit cooling
- Electric cooktop and range
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
$60,216
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
4.01%
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%
$1,204,320
$1.2M
Cap Rate 7%
$860,229
$860.2K
Cap Rate 9%
$669,067
$669.1K
Market Conditions
NOI Build-Up for 3,960 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
$122.6K $30.96/SF
− Vacancy
−$13.1K −$3.31/SF
EGI
$109.5K $27.65/SF
− OpEx
−$49.3K −$12.44/SF
NOI
$60.2K $15.21/SF
Area
Dallas, 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%
$1,204,320
Cap Rate 7%
$860,229
Cap Rate 9%
$669,067
Alternative Uses
Best Use
Apartment 5plus
$860.2K
$752.7K – $1.00M
NOI $60,216 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.75M
$4.16M – $5.54M
NOI $332,617 @ 7.0% cap · market cap 22.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Explore this area
Business Placement
Demographics for 75203, TX
14,710
Population
6,862
Households
2.1
Avg Household Size
33
Median Age
17%
College-Educated
65%
High-School Grad
4.8 sq mi
ZIP Area
3,065
Density / Sq Mi
$46,358
Median Household Income
$32,690
Median Earnings
$1,110
Median Rent
$125,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property in Dallas with electric cooling, cooking, and refrigeration equipment.
Where is this multifamily property located?
The property is located at 2401 Berwick Avenue Dallas, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Built in 1951; Electric wall or window‑unit cooling; Electric cooktop and range
