Building Details

Year Built 1930

Listing Agency: RE/MAX DFW Associates

Listed By: Brianna Castillo · License #0668250 Show Phone

Source: Teamrobbins

Added: Oct 2 Changed: Oct 8 Last Checked: Oct 7 at 4:27PM

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Investment Insights

Based on property information with market context.

Built in 1930, this 1,320-square-foot duplex contains two units with a combined three bedrooms and two bathrooms. The occupied unit has two bedrooms, one bathroom, a living room, and a kitchen. The second unit is vacant and includes one bedroom, one bathroom, a living room, and a kitchen. Its interior has fresh paint, new flooring, and a replacement bathroom countertop.

Building updates include a roof approximately two years old, plumbing approximately five years old, and a new HVAC system in the vacant unit installed in November 2024. The property is in Dallas, Texas. The stated 8.3% cap rate is based on projected market rents.

Key Highlights

• 1,320 SF duplex with two units, three bedrooms, and two bathrooms
• One unit is occupied; the other is vacant
• Vacant unit features fresh paint, new flooring, and a new bathroom countertop

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,072

Cap Rate

9.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$401,440 $401.4K

Cap Rate 7%

$286,743 $286.7K

Cap Rate 9%

$223,022 $223.0K

Market Conditions

NOI Build-Up for 1,320 SF

Gross rent

$40.9K $30.96/SF

− Vacancy

−$4.4K −$3.31/SF

EGI

$36.5K $27.65/SF

− OpEx

−$16.4K −$12.44/SF

NOI

$20.1K $15.21/SF

Area

ZIP 75211

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 Rate 5%

$401,440

Cap Rate 7%

$286,743

Cap Rate 9%

$223,022

Alternative Uses

Best Use

Multifamily LT 5

$330.2K

$288.9K – $385.2K (±1% cap)

NOI $23,111 @ 7.0% cap · market cap 10.55%

Second Best

Apartment 5plus

$286.7K

$250.9K – $334.5K (±1% cap)

NOI $20,072 @ 7.0% cap · market cap 9.17%

Theoretical Best

Office A

$396.3K

$346.8K – $462.4K (±1% cap)

NOI $27,744 @ 7.0% cap · market cap 12.67%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Skin Care Clinic Gym & Fitness Center Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

298

Businesses Nearby

Explore this area Business Placement

Demographics for 75211, TX

70,695

Population

24,103

Households

2.9

Avg Household Size

32

Median Age

14%

College-Educated

61%

High-School Grad

17.2 sq mi

ZIP Area

4,110

Density / Sq Mi

$56,377

Median Household Income

$33,845

Median Earnings

$1,251

Median Rent

$198,500

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Two separate living spaces provide a choice of rental arrangements, with one side currently occupied and the other vacant.

Where is this duplex located?

The property is located at 2928 Aster St Dallas, TX.

What is the asking price?

The asking price for this property is $219,000.

What are key features of this property?

This property features: 1,320 SF duplex with two units, three bedrooms, and two bathrooms; One unit is occupied; the other is vacant; Vacant unit features fresh paint, new flooring, and a new bathroom countertop