Two-Story Duplex with 2-Bedroom
New
For Sale
$462,000
400 Lansing Street, Dallas, TX 75203
Full duplex with open dining areas, granite counters, and bedrooms arranged across separate floors.
Property Size2,184 SF
Price / SF$211.54
Days on Market3
Property Features for 400 Lansing Street
General Information
Standard status
Active
Size
2,184 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1945
Listing Agency:
Perry Legacy Realty
(214) 799-6643
Listed By:
Moomaw Realty Group
(903) 880-3989
Source:
Moomawteam
Added: Sep 20
Last Checked: Sep 21 at 6:07AM
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 Perry Legacy Realty
Investment Insights
Based on property information with market context.
Built in 1945, this 2,184-square-foot duplex at 400 Lansing Street contains two two-story units. Each residence offers two bedrooms, two full bathrooms, granite countertops, a kitchen, living space, and an open dining area. The bedroom arrangement places sleeping areas on separate floors within each unit.
The property is within walking distance of the Bishop Arts District in North Oak Cliff, with boutiques, restaurants, coffee shops, and galleries nearby. Downtown Dallas skyline views are noted, along with access to Kiest Park, Lake Cliff Park, DART light rail stations, and I-35. The sale is subject to HUD case number 511-345954 and is offered as-is with all faults.
The property is within walking distance of the Bishop Arts District in North Oak Cliff, with boutiques, restaurants, coffee shops, and galleries nearby. Downtown Dallas skyline views are noted, along with access to Kiest Park, Lake Cliff Park, DART light rail stations, and I-35. The sale is subject to HUD case number 511-345954 and is offered as-is with all faults.
Key Highlights
- Full duplex with two 2‑story units
- Each unit includes 2 bedrooms and 2 full baths
- 2,184 square feet; built in 1945
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
$38,402
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
8.31%
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%
$768,040
$768.0K
Cap Rate 7%
$548,600
$548.6K
Cap Rate 9%
$426,689
$426.7K
Market Conditions
NOI Build-Up for 2,184 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
$61.1K $27.96/SF
− Vacancy
−$6.2K −$2.84/SF
EGI
$54.9K $25.12/SF
− OpEx
−$16.5K −$7.54/SF
NOI
$38.4K $17.58/SF
Area
Dallas, TX
Vacancy
10.16%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
30.00%
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%
$768,040
Cap Rate 7%
$548,600
Cap Rate 9%
$426,689
Alternative Uses
Best Use
Multifamily LT 5
$548.6K
$480.0K – $640.0K
NOI $38,402 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$474.4K
$415.1K – $553.5K
NOI $33,210 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$2.62M
$2.29M – $3.06M
NOI $183,443 @ 7.0% cap · market cap 39.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,003
Businesses Nearby
Explore this area
Business Placement
Demographics for 75203, TX
14,710
Population
6,862
Households
2.1
Avg Household Size
33
Median Age
17%
College-Educated
65%
High-School Grad
4.8 sq mi
ZIP Area
3,065
Density / Sq Mi
$46,358
Median Household Income
$32,690
Median Earnings
$1,110
Median Rent
$125,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Full duplex with open dining areas, granite counters, and bedrooms arranged across separate floors.
Where is this duplex located?
The property is located at 400 Lansing Street Dallas, TX.
What is the asking price?
The asking price for this property is $462,000.
What are key features of this property?
This property features: Full duplex with two 2‑story units; Each unit includes 2 bedrooms and 2 full baths; 2,184 square feet; built in 1945
