Updated Condo in Oak
For Sale
$334,999
4040 Avondale Avenue #107, Dallas, TX 75219
Updated 2 bed, 2.5 bath condo with modern amenities.
Property Size1,396 SF
Price / SF$239.97
Days on Market381
Property Features for 4040 Avondale Avenue #107
General Information
Standard status
Active
Size
1,396 SF
Property subtype
Condominium
Amenities
Fireplace
Cable Ready
Ceiling Fan(s)
Electric
Central Air
Central
Dryer
Dishwasher
Electric Cooktop
Electric Oven
Electric Water Heater
Disposal
Ice Maker
Microwave
Refrigerator
Washer
Deck, Patio, Porch, Cable Available, Sewer Available, Water Available, Flat, Tar/Gravel
Building Details
Building Size
1,396 SF
Year Built
1985
Stories
2
Listing Agency:
Dallas Midtown
Listed By:
Rachel Yamada · License #0743831
(512) 201-0355
Source:
Kw
Added: Aug 24, 2025
Changed: Sep 7
Last Checked: Sep 6 at 8:11PM
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 Dallas Midtown
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 = 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
$21,228
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
6.34%
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%
$424,560
$424.6K
Cap Rate 7%
$303,257
$303.3K
Cap Rate 9%
$235,867
$235.9K
Market Conditions
NOI Build-Up for 1,396 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
$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 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%
$424,560
Cap Rate 7%
$303,257
Cap Rate 9%
$235,867
Alternative Uses
Best Use
Apartment 5plus
$303.3K
$265.4K – $353.8K
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
NOI $117,256 @ 7.0% cap · market cap 35.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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.
