Fourplex Investment
For Sale
$1,180,000
4512 Swiss Ave, Dallas, TX 75204
Fully leased four 1-bedroom, 1-bath units with renovated kitchens and bathrooms, plus updated backyard common area.
Property Size4,200 SF
Price / SF$280.95
Days on Market150
Property Features for 4512 Swiss Ave
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
4
Amenities
landscaped backyard
Building Details
Year Built
1933
Tenancy
Multi
Listing Agency:
Redfin Corporation
Listed By:
Casi Fricks · License #0592712
(214) 405-4183
Source:
Teamrobbins
Added: Apr 16
Changed: Sep 8
Last Checked: Sep 12 at 11:50AM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
This fully leased fourplex includes four 1-bedroom, 1-bath units, each with larger-than-average floorplans for the area. The property has seen extensive improvements, including foundation stabilization with approximately 30 piers and beams replaced. Kitchens and bathrooms in all units have been fully renovated, and each unit is equipped with essential appliances including a range, oven, dishwasher, and disposal.
A renovated and landscaped backyard provides a shared outdoor space for residents. The property is located in an established urban setting with convenient access to Downtown Dallas, Deep Ellum, and Baylor University Medical Center, and quick connectivity to major thoroughfares, public transportation options, and nearby retail.
With all four units currently occupied, the asset is positioned as an income-producing residential investment with a smaller unit count designed to support a more private, community-oriented living environment than larger multifamily properties.
A renovated and landscaped backyard provides a shared outdoor space for residents. The property is located in an established urban setting with convenient access to Downtown Dallas, Deep Ellum, and Baylor University Medical Center, and quick connectivity to major thoroughfares, public transportation options, and nearby retail.
With all four units currently occupied, the asset is positioned as an income-producing residential investment with a smaller unit count designed to support a more private, community-oriented living environment than larger multifamily properties.
Key Highlights
- Fully leased 4- unit fourplex with all 4 units currently occupied
- Four 1‑bedroom, 1‑bath units, with open floorplan and walk‑in closet(s) in‑unit
- Renovated kitchens and bathrooms in all units
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
$73,851
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
6.26%
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%
$1,477,020
$1.5M
Cap Rate 7%
$1,055,014
$1.1M
Cap Rate 9%
$820,567
$820.6K
Market Conditions
NOI Build-Up for 4,200 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
$117.4K $27.96/SF
− Vacancy
−$11.9K −$2.84/SF
EGI
$105.5K $25.12/SF
− OpEx
−$31.7K −$7.54/SF
NOI
$73.9K $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%
$1,477,020
Cap Rate 7%
$1,055,014
Cap Rate 9%
$820,567
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$923.1K – $1.23M
NOI $73,851 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$912.4K
$798.3K – $1.06M
NOI $63,865 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$5.04M
$4.41M – $5.88M
NOI $352,776 @ 7.0% cap · market cap 29.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,477
Businesses Nearby
Explore this area
Business Placement
Demographics for 75204, TX
34,012
Population
23,304
Households
1.5
Avg Household Size
31
Median Age
70%
College-Educated
95%
High-School Grad
2.6 sq mi
ZIP Area
13,082
Density / Sq Mi
$93,007
Median Household Income
$71,995
Median Earnings
$1,822
Median Rent
$451,900
Median Home Value
Check the figures for this property
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?
Quadplex - Fully leased four 1-bedroom, 1-bath units with renovated kitchens and bathrooms, plus updated backyard common area.
Where is this quadplex located?
The property is located at 4512 Swiss Ave Dallas, TX.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: Fully leased 4- unit fourplex with all 4 units currently occupied; Four 1‑bedroom, 1‑bath units, with open floorplan and walk‑in closet(s) in‑unit; Renovated kitchens and bathrooms in all units
