Residential Income Property with
For Sale
$409,000
2908 Nelson Drive, Mesquite, TX 75150
Built in 1982 with central air, central heat, and an attached garage.
Property Size2,492 SF
Days on Market37
Property Features for 2908 Nelson Drive
General Information
Standard status
Active
Size
2,492 SF
Total Parking Spaces
4
Property subtype
Residential Income
Net Operating Income
$34,219
Taxes and HOA fees
Annual Taxes
$2,888
Amenities
Central Air
Central
Dishwasher, Disposal, Electric Range
Garage
Building Details
Building Size
2,492 SF
Year Built
1982
Buildings
1
Listing Agency:
Blue Atlas Realty
Listed By:
Allison Guillot · License #0703131
(682) 342-3135
Source:
Evrealestate
Added: Jul 30
Changed: Sep 2
Last Checked: Sep 4 at 3:28AM
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
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 = 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
$21,297
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
5.21%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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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 Drive 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
