Updated Three-Unit
For Sale
$439,000
406 Dawson Circle, Grand Prairie, TX 75051
Fully leased residential income property with private outdoor space for every unit and on-site driveway parking.
Property Size2,493 SF
Days on Market52
Property Features for 406 Dawson Circle
General Information
Standard status
Active
Size
2,493 SF
Property subtype
Triplex
Occupancy
100%
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,724
Amenities
granite counters
vinyl plank flooring
dishwashers
fridges
ceiling fans
private backyard
Building Details
Building Size
2,493 SF
Year Built
1953
Buildings
1
Tenancy
Multi
Listing Agency:
True Guard Property Management
Listed By:
Thomas Lail · License #0631083
(817) 349-3090
Source:
Nilesrealtygroup
Added: Aug 17
Changed: Sep 24
Last Checked: Oct 5 at 9:10PM
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 True Guard Property Management
Investment Insights
Based on property information with market context.
This three-unit residential property was built in 1953 and has undergone renovations. The unit mix includes one three-bedroom, one-bath residence, one two-bedroom, one-bath residence, and one one-bedroom, one-bath residence. Interior improvements include granite countertops, vinyl plank flooring, dishwashers, refrigerators, and ceiling fans. Each residence also has its own private backyard.
The property is fully leased and provides parking in the driveway as well as along the street. Recent foundation repairs have been completed, adding a documented capital improvement to the asset. Located at 406 Dawson Circle in Grand Prairie, the triplex offers a compact multifamily configuration with a range of unit sizes and dedicated outdoor areas.
The property is fully leased and provides parking in the driveway as well as along the street. Recent foundation repairs have been completed, adding a documented capital improvement to the asset. Located at 406 Dawson Circle in Grand Prairie, the triplex offers a compact multifamily configuration with a range of unit sizes and dedicated outdoor areas.
Key Highlights
- Three‑unit property with a 3‑bedroom, 1‑bath unit, a 2‑bedroom, 1‑bath unit, and a 1‑bedroom, 1‑bath unit
- Fully leased triplex
- Private backyard assigned to each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,737
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,740
$494.7K
Cap Rate 7%
$353,386
$353.4K
Cap Rate 9%
$274,856
$274.9K
Market Conditions
NOI Build-Up for 2,493 SF
Gross rent
$37.4K $15.00/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$35.3K $14.17/SF
− OpEx
−$10.6K −$4.25/SF
NOI
$24.7K $9.92/SF
Area
Grand Prairie, TX
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,740
Cap Rate 7%
$353,386
Cap Rate 9%
$274,856
Alternative Uses
Best Use
Multifamily LT 5
$353.4K
$309.2K – $412.3K
NOI $24,737 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$328.9K
$287.8K – $383.8K
NOI $23,026 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$700.9K
$613.3K – $817.7K
NOI $49,062 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
Explore this area
Business Placement
Demographics for 75051, TX
40,243
Population
14,139
Households
2.8
Avg Household Size
32
Median Age
15%
College-Educated
68%
High-School Grad
12.6 sq mi
ZIP Area
3,194
Density / Sq Mi
$53,124
Median Household Income
$34,029
Median Earnings
$1,183
Median Rent
$196,700
Median Home Value
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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?
Triplex - Fully leased residential income property with private outdoor space for every unit and on-site driveway parking.
Where is this triplex located?
The property is located at 406 Dawson Circle Grand Prairie, TX.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Three‑unit property with a 3‑bedroom, 1‑bath unit, a 2‑bedroom, 1‑bath unit, and a 1‑bedroom, 1‑bath unit; Fully leased triplex; Private backyard assigned to each unit
