Renovated Craftsman
New
For Sale
$835,000
413 W 9th Street, Dallas, TX 75208
Two separate residences with flexible owner-occupant and rental arrangements in the Bishop Arts area.
Property Size2,960 SF
Days on Market2
Property Features for 413 W 9th Street
General Information
Standard status
Active
Size
2,960 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR+study, 1 x 2BR
Multifamily Units
2
Additional Details
Furnished
Yes
Building Details
Building Size
2,960 SF
Year Built
1945
Buildings
1
Stories
2
Construction
Craftsman
Listing Agency:
Dave Perry Miller Real Estate
Listed By:
Daniel Quintana · License #0640397
(214) 406-2676
Source:
Nilesrealtygroup
Added: Sep 13
Last Checked: Sep 13 at 9:58AM
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 Dave Perry Miller Real Estate
Investment Insights
Based on property information with market context.
Built in 1945, this Craftsman-style duplex contains two separate residences with distinct layouts. The first-floor unit includes two bedrooms and a study that can serve as a third bedroom, while the second-floor unit has two bedrooms. Both residences feature large closets and substantial storage, and the property conveys fully furnished.
Renovations include foundation work, new windows, updated HVAC and electrical systems, refinished floors, a restored porch, exterior paint, refreshed landscaping, and a reconfigured interior layout. The property is located at 413 W 9th Street in Dallas, near Bishop Avenue and within the Bishop Arts area. It is currently operated as a short-term rental, with the layout also supporting an owner-occupant arrangement in one unit and rental use in the other.
Renovations include foundation work, new windows, updated HVAC and electrical systems, refinished floors, a restored porch, exterior paint, refreshed landscaping, and a reconfigured interior layout. The property is located at 413 W 9th Street in Dallas, near Bishop Avenue and within the Bishop Arts area. It is currently operated as a short-term rental, with the layout also supporting an owner-occupant arrangement in one unit and rental use in the other.
Key Highlights
- Two‑unit duplex with separate first‑floor and second‑floor residences
- First floor offers 2 bedrooms plus a study; second floor includes 2 bedrooms
- Renovated with foundation work, new windows, HVAC, electrical, and refinished floors
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
$52,047
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
6.23%
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%
$1,040,940
$1.0M
Cap Rate 7%
$743,529
$743.5K
Cap Rate 9%
$578,300
$578.3K
Market Conditions
NOI Build-Up for 2,960 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
$82.8K $27.96/SF
− Vacancy
−$8.4K −$2.84/SF
EGI
$74.4K $25.12/SF
− OpEx
−$22.3K −$7.54/SF
NOI
$52.0K $17.58/SF
Area
Dallas, TX
Vacancy
10.16%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
30.00%
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%
$1,040,940
Cap Rate 7%
$743,529
Cap Rate 9%
$578,300
Alternative Uses
Best Use
Multifamily LT 5
$743.5K
$650.6K – $867.5K
NOI $52,047 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$643.0K
$562.6K – $750.2K
NOI $45,010 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$3.55M
$3.11M – $4.14M
NOI $248,623 @ 7.0% cap · market cap 29.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,347
Businesses Nearby
Explore this area
Business Placement
Demographics for 75208, TX
29,446
Population
13,655
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
76%
High-School Grad
6.1 sq mi
ZIP Area
4,827
Density / Sq Mi
$76,502
Median Household Income
$48,460
Median Earnings
$1,589
Median Rent
$415,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Duplex - Two separate residences with flexible owner-occupant and rental arrangements in the Bishop Arts area.
Where is this duplex located?
The property is located at 413 W 9th Street Dallas, TX.
What is the asking price?
The asking price for this property is $835,000.
What are key features of this property?
This property features: Two‑unit duplex with separate first‑floor and second‑floor residences; First floor offers 2 bedrooms plus a study; second floor includes 2 bedrooms; Renovated with foundation work, new windows, HVAC, electrical, and refinished floors
