Four-Unit Quadplex
319 Ware Drive Grand Prairie, TX 75051
319 Ware Drive, Grand Prairie, TX, 75051
$600,000
For Sale
$600,000
Quadplex with four units, including three currently rented homes and one vacant unit for showing.
Property Size3,748 SF
Price / SF$160.09
Days on Market133
Property Features for 319 Ware Drive
General Information
- Standard status
- Active
- Size
- 3,748 SF
- Property subtype
- Multi-Family / Fourplex
Building Details
- Year Built
- 1983
Listing agency
RE/MAX Trinity
(817) 919-2298
Listed by
Kelly Christenson · License #0531627
(817) 919-2298
Source
Compass
Added: Mar 12 Updated: Jul 21 at 3:49AM Checked: Jul 21 at 3:49AM
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 RE/MAX Trinity
Investment Insights
Based on property information with market context.
Four-unit quadplex at 319 Ware Drive in Grand Prairie, Texas, comprised of units 317, 319, 321, and 323 Ware. Three units are configured as 2-bedroom, 2-bath homes, while one unit offers 3 bedrooms and 2 bathrooms. At the time of listing, three units are currently rented and one unit is vacant for showing.
The roof was replaced in March 2026. The property is described as being close to a youth sports complex and a park, and within the broader area near shopping and local recreation options. The remarks also note a short drive to stadiums in Arlington and convenient access to both downtown Fort Worth and downtown Dallas.
Additional details, including dimensions, taxes, and schools, are to be verified by buyers.
The roof was replaced in March 2026. The property is described as being close to a youth sports complex and a park, and within the broader area near shopping and local recreation options. The remarks also note a short drive to stadiums in Arlington and convenient access to both downtown Fort Worth and downtown Dallas.
Additional details, including dimensions, taxes, and schools, are to be verified by buyers.
Key Highlights
- 4‑unit quadplex built in 1983 in Grand Prairie
- Unit mix: three 2 bed/2 bath units and one 3 bed/2 bath unit
- Three units are currently rented; one unit is vacant for showing
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.2k | $15.00 |
| − Vacancy | −$3.1k | −$0.83 |
| EGI | $53.1k | $14.17 |
| − OpEx | −$15.9k | −$4.25 |
| NOI | $37.2k | $9.92 |
3,748 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$531.3K
$464.9K – $619.8K
NOI $37,190 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$494.5K
$432.7K – $577.0K
NOI $34,618 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$1.05M
$922.0K – $1.23M
NOI $73,761 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Quadplex with four units, including three currently rented homes and one vacant unit for showing.
Where is this quadplex located?
The property is located at 319 Ware Drive Grand Prairie, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 4‑unit quadplex built in 1983 in Grand Prairie; Unit mix: three 2 bed/2 bath units and one 3 bed/2 bath unit; Three units are currently rented; one unit is vacant for showing
