Owner-Occupant Duplex with Covered
For Sale
$515,000
3609 Stables, Dallas, TX 75229
Duplex with two 2-bedroom, 2-bath units, including a covered parking setup and one unit scheduled to be vacant.
Property Size2,808 SF
Price / SF$183.40
Days on Market110
Property Features for 3609 Stables
General Information
Standard status
Active
Size
2,808 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Northwest Dallas
Building Details
Year Built
1970
Listing Agency:
Real Property Management Legen
Listed By:
Kent Lindloff · License #0712967
(214) 227-2404
Source:
Dfwareahousehunt
Added: Jul 15
Changed: Oct 31
Last Checked: Nov 1 at 6:11AM
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 Real Property Management Legen
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex offers two matching residential units, each with 2 bedrooms and 2 full bathrooms and an approximately 1,404-square-foot layout. Each unit includes an open living area with a fireplace, a galley-style kitchen, and a private primary suite with an en-suite bath, along with private outdoor space and covered parking.
One unit is scheduled to be vacant at the end of July, creating an opportunity for an owner-occupant to live in one side while renting the other. The property is located at 3609 Stables Lane in Dallas, with convenient access to I-635 and I-35E, as well as Love Field Airport, Downtown Dallas, the Medical District, and major employment centers.
For financing, the seller notes the property may qualify for VA or FHA owner-occupied financing for eligible buyers.
One unit is scheduled to be vacant at the end of July, creating an opportunity for an owner-occupant to live in one side while renting the other. The property is located at 3609 Stables Lane in Dallas, with convenient access to I-635 and I-35E, as well as Love Field Airport, Downtown Dallas, the Medical District, and major employment centers.
For financing, the seller notes the property may qualify for VA or FHA owner-occupied financing for eligible buyers.
Key Highlights
- Duplex built in 1970 with two 2‑bedroom, 2‑bath units for a total of 2,808 SF (approx. 1,404 SF per unit)
- One unit scheduled to be vacant at the end of July—ideal for owner occupancy while renting the other unit
- Each unit includes an open living area with a fireplace, a galley‑style kitchen, and a private primary suite with en‑suite bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,698
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$853,960
$854.0K
Cap Rate 7%
$609,971
$610.0K
Cap Rate 9%
$474,422
$474.4K
Market Conditions
NOI Build-Up for 2,808 SF
Gross rent
$86.9K $30.96/SF
− Vacancy
−$9.3K −$3.31/SF
EGI
$77.6K $27.65/SF
− OpEx
−$34.9K −$12.44/SF
NOI
$42.7K $15.21/SF
Area
Dallas, 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 Rate 5%
$853,960
Cap Rate 7%
$609,971
Cap Rate 9%
$474,422
Alternative Uses
Best Use
Multifamily LT 5
$705.3K
$617.2K – $822.9K
NOI $49,374 @ 7.0% cap · market cap 9.59%
Second Best
Apartment 5plus
$610.0K
$533.7K – $711.6K
NOI $42,698 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$3.37M
$2.95M – $3.93M
NOI $235,856 @ 7.0% cap · market cap 45.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 75229, TX
33,168
Population
12,542
Households
2.6
Avg Household Size
37
Median Age
50%
College-Educated
81%
High-School Grad
12.4 sq mi
ZIP Area
2,675
Density / Sq Mi
$121,381
Median Household Income
$52,169
Median Earnings
$1,522
Median Rent
$598,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two 2-bedroom, 2-bath units, including a covered parking setup and one unit scheduled to be vacant.
Where is this duplex located?
The property is located at 3609 Stables Dallas, TX.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Duplex built in 1970 with two 2‑bedroom, 2‑bath units for a total of 2,808 SF (approx. 1,404 SF per unit); One unit scheduled to be vacant at the end of July—ideal for owner occupancy while renting the other unit; Each unit includes an open living area with a fireplace, a galley‑style kitchen, and a private primary suite with en‑suite bath
