Duplex with Separate
New
For Sale
$550,000
4533 Worth Street, Dallas, TX 75246
Each two-bedroom unit has its own meter, and tenants pay water, electric, and gas costs.
Property Size1,920 SF
Days on Market2
Property Features for 4533 Worth Street
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Gross Income
$35,940
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$11,020
Building Details
Building Size
1,920 SF
Year Built
1923
Buildings
1
Tenancy
Multi
Listing Agency:
Grey Square
Listed By:
Paul Blair · License #0698050
(214) 239-2869
Source:
Nilesrealtygroup
Added: Sep 26
Last Checked: Sep 26 at 2:39PM
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 Grey Square
Investment Insights
Based on property information with market context.
Built in 1923, this Dallas duplex contains two separately entered units: 4531 Worth Street measures 1,200 square feet, while 4533 Worth Street has 720 square feet. Each side has two bedrooms and separate utility meters. Tenants pay water, electric, and gas expenses. The property can remain configured as a two-unit rental or accommodate an owner in one unit while the other is leased.
Recent work includes a roof replacement in March 2024, installation of ten foundation piers with reshimming in August 2024, and French drains completed in November 2024. The 4531 unit is scheduled to become available on April 30, 2027, and 4533 on September 30, 2027. The property is in Historic Overlay District No. 72, with Buckner Park across the street.
Recent work includes a roof replacement in March 2024, installation of ten foundation piers with reshimming in August 2024, and French drains completed in November 2024. The 4531 unit is scheduled to become available on April 30, 2027, and 4533 on September 30, 2027. The property is in Historic Overlay District No. 72, with Buckner Park across the street.
Key Highlights
- Two‑bedroom units at 4531 Worth Street (1,200 square feet) and 4533 Worth Street (720 square feet)
- Separate entrances and utility meters for each unit; tenants pay water, electric, and gas
- Roof replaced in March 2024; ten foundation piers installed and reshimming completed in August 2024
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
$33,760
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
6.14%
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%
$675,200
$675.2K
Cap Rate 7%
$482,286
$482.3K
Cap Rate 9%
$375,111
$375.1K
Market Conditions
NOI Build-Up for 1,920 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
$53.7K $27.96/SF
− Vacancy
−$5.5K −$2.84/SF
EGI
$48.2K $25.12/SF
− OpEx
−$14.5K −$7.54/SF
NOI
$33.8K $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%
$675,200
Cap Rate 7%
$482,286
Cap Rate 9%
$375,111
Alternative Uses
Best Use
Multifamily LT 5
$482.3K
$422.0K – $562.7K
NOI $33,760 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$417.1K
$365.0K – $486.6K
NOI $29,196 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$2.30M
$2.02M – $2.69M
NOI $161,269 @ 7.0% cap · market cap 29.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 75246, TX
2,458
Population
1,545
Households
1.6
Avg Household Size
38
Median Age
23%
College-Educated
79%
High-School Grad
0.5 sq mi
ZIP Area
4,916
Density / Sq Mi
$49,665
Median Household Income
$38,088
Median Earnings
$1,045
Median Rent
$449,600
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 - Each two-bedroom unit has its own meter, and tenants pay water, electric, and gas costs.
Where is this duplex located?
The property is located at 4533 Worth Street Dallas, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑bedroom units at 4531 Worth Street (1,200 square feet) and 4533 Worth Street (720 square feet); Separate entrances and utility meters for each unit; tenants pay water, electric, and gas; Roof replaced in March 2024; ten foundation piers installed and reshimming completed in August 2024
