Five-Unit Furnished Apartment
New
For Sale
$2,199,999
4031 Rawlins Street, Dallas, TX 75219
Each residence offers two bedrooms, two baths, and in-unit laundry equipment.
Property Size4,368 SF
Price / SF$503.66
Days on Market3
Property Features for 4031 Rawlins Street
General Information
Standard status
Active
Size
4,368 SF
Total Parking Spaces
5
Property subtype
Hotel Motel
Units
Unit Mix
5 x 2BR/2BA
Multifamily Units
5
Additional Details
Furnished
Yes
Highway Access
Yes
Amenities
in-unit washer and dryer
Building Details
Year Built
1926
Buildings
2
Listing Agency:
EXP REALTY
(888) 519-7431
Listed By:
Rene Jensen · License #0720823
(214) 532-6823
Source:
Lonestarluxuryrealty
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 23 at 8:32AM
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 EXP REALTY
Investment Insights
Based on property information with market context.
This five-unit apartment property comprises two buildings on a single lot: a two-story, four-unit brick structure and a separate single-family residence. All five residences are arranged with two bedrooms and two bathrooms and include in-unit washers and dryers. Furnishings convey with the sale. Completed capital improvements include a replaced roof, new HVAC systems across all units, updated water heaters, replacement windows and doors, and pier-and-beam foundation work on the main building.
The property is located one mile from UT Southwestern Medical Center and Children’s Medical Center, with Parkland Memorial Hospital and the broader medical district also nearby. The site includes five parking spaces and has no HOA. Highland Park, Uptown, Love Field, the Dallas North Tollway, and 75 Central Expressway are within minutes. The property is also identified as eligible for a 1031 exchange.
The property is located one mile from UT Southwestern Medical Center and Children’s Medical Center, with Parkland Memorial Hospital and the broader medical district also nearby. The site includes five parking spaces and has no HOA. Highland Park, Uptown, Love Field, the Dallas North Tollway, and 75 Central Expressway are within minutes. The property is also identified as eligible for a 1031 exchange.
Key Highlights
- Five furnished residences with all furnishings included in the sale
- Two‑story four‑unit brick building plus detached single‑family home on one lot
- Each unit includes 2 bedrooms, 2 bathrooms, and an in‑unit washer and dryer
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
$66,420
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
3.02%
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%
$1,328,400
$1.3M
Cap Rate 7%
$948,857
$948.9K
Cap Rate 9%
$738,000
$738.0K
Market Conditions
NOI Build-Up for 4,368 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
$135.2K $30.96/SF
− Vacancy
−$14.5K −$3.31/SF
EGI
$120.8K $27.65/SF
− OpEx
−$54.3K −$12.44/SF
NOI
$66.4K $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%
$1,328,400
Cap Rate 7%
$948,857
Cap Rate 9%
$738,000
Alternative Uses
Best Use
Apartment 5plus
$948.9K
$830.3K – $1.11M
NOI $66,420 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.24M
$4.59M – $6.11M
NOI $366,887 @ 7.0% cap · market cap 16.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,966
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Each residence offers two bedrooms, two baths, and in-unit laundry equipment.
Where is this apartment building located?
The property is located at 4031 Rawlins Street Dallas, TX.
What is the asking price?
The asking price for this property is $2,199,999.
What are key features of this property?
This property features: Five furnished residences with all furnishings included in the sale; Two‑story four‑unit brick building plus detached single‑family home on one lot; Each unit includes 2 bedrooms, 2 bathrooms, and an in‑unit washer and dryer
