Remodeled Boutique Apartment
New
For Sale
$2,100,000
4017 RAWLINS Street, Dallas, TX 75219
ResidentialIncome, Dallas, TX
Property Size5,014 SF
Lot Size172.52 Acres
Price / SF$418.83
Days on Market5
Property Features for 4017 RAWLINS Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 5, Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 7, Bathroom 5, Bedroom 1, Bathroom 6, Bathroom 1, Bathroom 3, Bathroom 7, Bathroom 8, Bedroom 8, Bathroom 4, Bedroom 4, Bedroom 2
Parking
10
Parking features
On Street, Driveway, Parking Lot, Gated
Patio and Porch features
Deck
Interior features
DecorativeDesignerLightingFixtures, DoubleVanity, EatInKitchen, HighSpeedInternet, OpenFloorplan, CableTv, VaultedCeilings, NaturalWoodwork
Exterior features
Awnings, Balcony
Fencing
Fenced, Gate
Fireplace
1
Appliances
BuiltInGasRange, Dryer, Dishwasher, GasCooktop, Disposal, IceMaker, Microwave, Refrigerator, VentedExhaustFan, Washer
Subdivision
MELROSE CONDOS
Lot features
Native Plants
Elementary school
Houston
Middle school
Rusk
High school
North Dallas
Elementary school district
Dallas ISD
Middle school district
Dallas ISD
High school district
Dallas ISD
Directions
Between Knight St, Hall and Throckmorton . Two blocks form Oaklawn, please consult GPS for exact driving directions.
Standard status
Active
APN
00C4629000000000A
Lot size
172.52 Acres
Taxes and HOA fees
HOA Fee
$200 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
fireplaces
in-unit washer/dryer
private outdoor retreat
gated parking
EV charging station
Building Details
Year built
1925
Floors in Building
2
Number of units
5
Flooring type
Hardwood, Tile
Building materials
Stucco
Roof type
Composition
Listing Agency:
Allie Beth Allman & Assoc. · Berkshire Hathaway HomeServices
(214) 521-7355
Listed By:
KJ Murphy · License #0762295
(214) 528-2500
Added: Sep 21
Last Checked: Sep 25 at 1:06AM
MLS# 21343610
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1925, this 5,014-square-foot apartment property contains five distinct residences, including two one-bedroom units and three two-bedroom units. The interiors were remodeled to the studs while retaining the heritage exterior, hardwood flooring, fireplaces, and other period details. Each residence includes a chef-style kitchen with granite counters and stainless-steel appliances, a full-size washer and dryer, and a private patio or covered veranda. Central heating and cooling, tile finishes, and updated baths add to the residential configuration.
The property is at 4017 Rawlins Street in Dallas’s Oak Lawn area, near neighborhood restaurants, retail, offices, and the Turtle Creek trails. A fenced and gated rear parking area provides one covered space per unit plus guest parking, along with an electric vehicle charging station. Utilities are individually metered, and established HOA documents are in place.
The property is at 4017 Rawlins Street in Dallas’s Oak Lawn area, near neighborhood restaurants, retail, offices, and the Turtle Creek trails. A fenced and gated rear parking area provides one covered space per unit plus guest parking, along with an electric vehicle charging station. Utilities are individually metered, and established HOA documents are in place.
Key Highlights
- Five residences totaling 5,014 SF, with two 1‑bedroom and three 2‑bedroom units
- 1925 construction with a preserved heritage exterior and full interior remodeling
- Each residence includes a fireplace, private outdoor area, washer and dryer, and updated kitchen
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
$76,243
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
3.63%
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%
$1,524,860
$1.5M
Cap Rate 7%
$1,089,186
$1.1M
Cap Rate 9%
$847,144
$847.1K
Market Conditions
NOI Build-Up for 5,014 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
$155.2K $30.96/SF
− Vacancy
−$16.6K −$3.31/SF
EGI
$138.6K $27.65/SF
− OpEx
−$62.4K −$12.44/SF
NOI
$76.2K $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 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%
$1,524,860
Cap Rate 7%
$1,089,186
Cap Rate 9%
$847,144
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$953.0K – $1.27M
NOI $76,243 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.02M
$5.26M – $7.02M
NOI $421,147 @ 7.0% cap · market cap 20.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,719
Businesses Nearby
Explore this area
Business Placement
Demographics for 75219, TX
27,885
Population
19,190
Households
1.5
Avg Household Size
36
Median Age
71%
College-Educated
94%
High-School Grad
2.3 sq mi
ZIP Area
12,124
Density / Sq Mi
$92,541
Median Household Income
$70,549
Median Earnings
$1,751
Median Rent
$377,900
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Five residences with updated interiors, private outdoor areas, gated parking, and individually metered utilities.
Where is this apartment building located?
The property is located at 4017 RAWLINS Street Dallas, TX.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Five residences totaling 5,014 SF, with two 1‑bedroom and three 2‑bedroom units; 1925 construction with a preserved heritage exterior and full interior remodeling; Each residence includes a fireplace, private outdoor area, washer and dryer, and updated kitchen
