Residential Income Property with
For Sale
$409,000
2908 Nelson Dr, Mesquite, TX 75150
Built in 1982 with central air, central heat, and an attached garage.
Property Size2,492 SF
Price / SF$164.13
Days on Market95
Property Features for 2908 Nelson Dr
General Information
Standard status
Active
Size
2,492 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
{92d12bf7-Ac0b-4e22-Afb0-5c42cb9053bd}
Building Details
Year Built
1982
Listing Agency:
Blue Atlas Realty
Listed By:
Allison Guillot · License #0703131
(682) 342-3135
Source:
Christenberrygroup
Added: Jul 30
Changed: Oct 26
Last Checked: Oct 30 at 4:07PM
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 Blue Atlas Realty
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Investment Insights
Based on property information with market context.
This residential income property was built in 1982 and includes central air, central heating, a dishwasher, disposal, and electric range. Exterior features include a garage.
The property is located at 2908 Nelson Drive in Mesquite, Texas, within Dallas County.
The property is located at 2908 Nelson Drive in Mesquite, Texas, within Dallas County.
Key Highlights
- Built in 1982
- Central air and central heating
- Dishwasher, disposal, and electric range
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,297
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,940
$425.9K
Cap Rate 7%
$304,243
$304.2K
Cap Rate 9%
$236,633
$236.6K
Market Conditions
NOI Build-Up for 2,492 SF
Gross rent
$43.4K $17.40/SF
− Vacancy
−$4.6K −$1.86/SF
EGI
$38.7K $15.54/SF
− OpEx
−$17.4K −$6.99/SF
NOI
$21.3K $8.55/SF
Area
Mesquite, TX
Vacancy
10.70%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,940
Cap Rate 7%
$304,243
Cap Rate 9%
$236,633
Alternative Uses
Best Use
Apartment 5plus
$304.2K
$266.2K – $355.0K
NOI $21,297 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.69M
$5.85M – $7.80M
NOI $468,024 @ 7.0% cap · market cap 114.43%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
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Business Placement
Demographics for 75150, TX
64,654
Population
24,892
Households
2.6
Avg Household Size
34
Median Age
20%
College-Educated
80%
High-School Grad
12.6 sq mi
ZIP Area
5,131
Density / Sq Mi
$65,985
Median Household Income
$38,301
Median Earnings
$1,387
Median Rent
$221,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1982 with central air, central heat, and an attached garage.
Where is this residential income property located?
The property is located at 2908 Nelson Dr Mesquite, TX.
What is the asking price?
The asking price for this property is $409,000.
What are key features of this property?
This property features: Built in 1982; Central air and central heating; Dishwasher, disposal, and electric range
