Four-Unit Multifamily
For Sale
$620,000
2725 Patricia Lane, Garland, TX 75041
Quadplex with four two-bedroom units, practical layouts, and off-street rear parking in Garland.
Property Size3,564 SF
Days on Market51
Property Features for 2725 Patricia Lane
General Information
Standard status
Active
Size
3,564 SF
Property subtype
Quadruplex
Additional Details
Gross Income
$57,360
Taxes and HOA fees
Annual Taxes
$13,497
Building Details
Building Size
3,564 SF
Year Built
1981
Buildings
1
Tenancy
Multi
Listing Agency:
eXp Realty LLC
Listed By:
Lucia Rushton · License #0712213
(214) 273-7102
Source:
Nilesrealtygroup
Added: Jul 30
Changed: Sep 10
Last Checked: Sep 17 at 12:02AM
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 LLC
Investment Insights
Based on property information with market context.
This quadplex, built in 1981, includes four two-bedroom, one-bath units. Each unit has a practical floor plan with living space and functional kitchens. Select units have been marketed with wood-look flooring, updated light fixtures, bright kitchens, appliance packages, and washer-dryer connections.
The property includes off-street rear parking and is located near major routes, with access to Downtown Garland, shopping, dining, public transit options, area parks, and employment centers throughout Garland and East Dallas. The unit mix provides four separate residences within an established multifamily property.
The property includes off-street rear parking and is located near major routes, with access to Downtown Garland, shopping, dining, public transit options, area parks, and employment centers throughout Garland and East Dallas. The unit mix provides four separate residences within an established multifamily property.
Key Highlights
- Four 2‑bedroom, 1‑bath units
- Built in 1981
- Select units feature wood‑look flooring and updated light fixtures
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
$54,194
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
8.74%
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%
$1,083,880
$1.1M
Cap Rate 7%
$774,200
$774.2K
Cap Rate 9%
$602,156
$602.2K
Market Conditions
NOI Build-Up for 3,564 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
$110.3K $30.96/SF
− Vacancy
−$11.8K −$3.31/SF
EGI
$98.5K $27.65/SF
− OpEx
−$44.3K −$12.44/SF
NOI
$54.2K $15.21/SF
Area
Garland, 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%
$1,083,880
Cap Rate 7%
$774,200
Cap Rate 9%
$602,156
Alternative Uses
Best Use
Multifamily LT 5
$895.3K
$783.4K – $1.04M
NOI $62,668 @ 7.0% cap · market cap 10.11%
Second Best
Apartment 5plus
$774.2K
$677.4K – $903.2K
NOI $54,194 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$4.28M
$3.74M – $4.99M
NOI $299,355 @ 7.0% cap · market cap 48.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
Explore this area
Business Placement
Demographics for 75041, TX
32,219
Population
10,378
Households
3.1
Avg Household Size
33
Median Age
15%
College-Educated
70%
High-School Grad
7.9 sq mi
ZIP Area
4,078
Density / Sq Mi
$68,692
Median Household Income
$35,027
Median Earnings
$1,368
Median Rent
$214,600
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?
Quadplex - Quadplex with four two-bedroom units, practical layouts, and off-street rear parking in Garland.
Where is this quadplex located?
The property is located at 2725 Patricia Lane Garland, TX.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units; Built in 1981; Select units feature wood‑look flooring and updated light fixtures
