Building Details

Building Size 1,396 SF

Year Built 1985

Stories 2

Listing Agency: Dallas Midtown

Listed By: Rachel Yamada · License #0743831 Show Phone

Source: Kw

Added: Aug 24, 2025 Changed: Oct 10 Last Checked: Oct 23 at 3:45PM

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Investment Insights

Based on property information with market context.

This updated condo in Avondale Gardens offers Oak Lawn and Turtle Creek living. The 2-bedroom, 2.5-bathroom unit features an open floor plan filled with light, a curved staircase, vaulted ceilings, updated bathroom fixtures, custom accent lighting, and new wood floors. The dining area is located off the kitchen, and the spacious living room includes a built-in wet bar, a wood-burning fireplace, and a balcony. The primary suite features a separate garden tub and shower, walk-in closets, and glass block windows with custom curtains. The secondary bedroom has a private balcony, fireplace, ensuite bathroom, and walk-in closet. The property size is 1396 square feet. The unit includes two assigned covered parking spots in the underground garage and access to the clubhouse, pool, and fitness center.

Key Highlights

• Updated 2 bedroom, 2.5 bathroom condo in Oak Lawn/Turtle Creek area.
• Two assigned covered parking spots in underground garage.
• Access to clubhouse, pool, and fitness center.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,228

Cap Rate

6.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$424,560 $424.6K

Cap Rate 7%

$303,257 $303.3K

Cap Rate 9%

$235,867 $235.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,396 SF

Gross rent

$43.2K $30.96/SF

− Vacancy

−$4.6K −$3.31/SF

EGI

$38.6K $27.65/SF

− OpEx

−$17.4K −$12.44/SF

NOI

$21.2K $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 Rate 5%

$424,560

Cap Rate 7%

$303,257

Cap Rate 9%

$235,867

Alternative Uses

Best Use

Apartment 5plus

$303.3K

$265.4K – $353.8K (±1% cap)

NOI $21,228 @ 7.0% cap · market cap 6.34%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.68M

$1.47M – $1.95M (±1% cap)

NOI $117,256 @ 7.0% cap · market cap 35.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Location Intelligence

Trade Area within ½ mile

3,454

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Updated 2 bed, 2.5 bath condo with modern amenities.

Where is this apartment building located?

The property is located at 4040 Avondale Avenue #107 Dallas, TX.

What is the asking price?

The asking price for this property is $334,999.

What are key features of this property?

This property features: Updated 2 bedroom, 2.5 bathroom condo in Oak Lawn/Turtle Creek area.; Two assigned covered parking spots in underground garage.; Access to clubhouse, pool, and fitness center.