Updated Quadplex with Gated
For Sale
$1,280,000
4512 Sycamore Street, Dallas, TX 75204
Four occupied units are arranged across two buildings, each with private entrances and refreshed kitchens and bathrooms.
Property Size5,812 SF
Price / SF$220.23
Days on Market347
Property Features for 4512 Sycamore Street
General Information
Standard status
Active
Size
5,812 SF
Total Parking Spaces
8
Property subtype
Multi-Family / Fourplex
Occupancy
100%
Additional Details
Multifamily Units
4
Amenities
Ceiling Fan(s), Central Air
Natural Gas
No
Carpet, Laminate, Wood
Dishwasher, Gas Range, Gas Water Heater, Microwave, Refrigerator
Window Coverings
Cable TV Available, Decorative Lighting, Granite Counters, High Speed Internet Available
Living Room, Wood Burning
Composition
Two
Perimeter
2
Pillar/Post/Pier
Creek
Assessor
4
Brick
Deck, Patio, Rear Porch
Building Details
Year Built
1923
Buildings
2
Listing Agency:
Rogers Healy and Associates
(469) 556-0743
Listed By:
Bobby Schleizer · License #0794156
(469) 556-0743
Source:
Compass
Added: Sep 20, 2025
Changed: Aug 30
Last Checked: Aug 31 at 9:56PM
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 Rogers Healy and Associates
Investment Insights
Based on property information with market context.
This 5,812-square-foot quadplex comprises two separate structures, with two units in each building. The property was built in 1923 and includes four privately entered residences with updated kitchens and bathrooms. Interior features include central air, ceiling fans, granite counters, dishwashers, gas ranges, gas water heaters, microwaves, refrigerators, and a mix of carpet, laminate, and wood flooring.
The property is located at 4512 Sycamore Street in Dallas, Texas. All four units are occupied, with occupancy reported through 2027. Recent exterior work includes replacement fencing, new gutters, select window replacements, and repainting. Rear parking is secured behind a gated entrance, and the grounds include a deck, patio, and rear porch.
The property is located at 4512 Sycamore Street in Dallas, Texas. All four units are occupied, with occupancy reported through 2027. Recent exterior work includes replacement fencing, new gutters, select window replacements, and repainting. Rear parking is secured behind a gated entrance, and the grounds include a deck, patio, and rear porch.
Key Highlights
- 5,812‑square‑foot quadplex built in 1923
- Two structures with two units in each building
- 100% occupied with full occupancy reported until 2027
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
$102,195
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
7.98%
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%
$2,043,900
$2.0M
Cap Rate 7%
$1,459,929
$1.5M
Cap Rate 9%
$1,135,500
$1.1M
Market Conditions
NOI Build-Up for 5,812 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
$162.5K $27.96/SF
− Vacancy
−$16.5K −$2.84/SF
EGI
$146.0K $25.12/SF
− OpEx
−$43.8K −$7.54/SF
NOI
$102.2K $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%
$2,043,900
Cap Rate 7%
$1,459,929
Cap Rate 9%
$1,135,500
Alternative Uses
Best Use
Multifamily LT 5
$1.46M
$1.28M – $1.70M
NOI $102,195 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,377 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$6.97M
$6.10M – $8.14M
NOI $488,175 @ 7.0% cap · market cap 38.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,834
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied units are arranged across two buildings, each with private entrances and refreshed kitchens and bathrooms.
Where is this quadplex located?
The property is located at 4512 Sycamore Street Dallas, TX.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: 5,812‑square‑foot quadplex built in 1923; Two structures with two units in each building; 100% occupied with full occupancy reported until 2027
