Updated Five-Unit Apartment
For Sale
$1,100,000
4936 Worth Street A-e, Dallas, TX 75214
Historic Munger Place property with separate electric meters and central HVAC serving each unit.
Property Size4,402 SF
Price / SF$249.89
Days on Market39
Property Features for 4936 Worth Street A-e
General Information
Standard status
Active
Size
4,402 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
5
Amenities
shared yard
front porch
shared balcony
Building Details
Year Built
1909
Buildings
1
Listing Agency:
Pegasus Realty, Inc.
Listed By:
Victor Aves · License #0403677
(214) 826-9555
Source:
Cityupgroup
Added: Jul 27
Changed: Aug 29
Last Checked: Sep 1 at 10:43PM
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 Pegasus Realty, Inc.
Investment Insights
Based on property information with market context.
This five-unit apartment property combines a 1909 building with modernized interiors and practical operating features. The units were refreshed within the past five years, while original character remains part of the property’s appeal. Separate electric meters and central HVAC serve each unit. The 4402 SF total includes a garage apartment.
On-site parking is arranged across the property, with covered parking assigned to three units, driveway parking for one unit, and street parking serving the garage apartment. Residents share a yard and front porch, while the two upstairs units have access to a shared balcony. The property is 100% leased and professionally managed, providing an occupied multifamily asset in Historic Munger Place.
On-site parking is arranged across the property, with covered parking assigned to three units, driveway parking for one unit, and street parking serving the garage apartment. Residents share a yard and front porch, while the two upstairs units have access to a shared balcony. The property is 100% leased and professionally managed, providing an occupied multifamily asset in Historic Munger Place.
Key Highlights
- Five apartment units with 4402 SF, including the garage apartment
- Interiors refreshed within the past five years
- Separate electric meters and central HVAC for each unit
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
$66,937
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
6.09%
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%
$1,338,740
$1.3M
Cap Rate 7%
$956,243
$956.2K
Cap Rate 9%
$743,744
$743.7K
Market Conditions
NOI Build-Up for 4,402 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
$136.3K $30.96/SF
− Vacancy
−$14.6K −$3.31/SF
EGI
$121.7K $27.65/SF
− OpEx
−$54.8K −$12.44/SF
NOI
$66.9K $15.21/SF
Area
Dallas, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,338,740
Cap Rate 7%
$956,243
Cap Rate 9%
$743,744
Alternative Uses
Best Use
Apartment 5plus
$956.2K
$836.7K – $1.12M
NOI $66,937 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.28M
$4.62M – $6.16M
NOI $369,743 @ 7.0% cap · market cap 33.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,219
Businesses Nearby
Explore this area
Business Placement
Demographics for 75214, TX
35,664
Population
17,474
Households
2
Avg Household Size
37
Median Age
71%
College-Educated
95%
High-School Grad
7.3 sq mi
ZIP Area
4,885
Density / Sq Mi
$128,917
Median Household Income
$81,149
Median Earnings
$1,536
Median Rent
$707,400
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?
Apartment building - Historic Munger Place property with separate electric meters and central HVAC serving each unit.
Where is this apartment building located?
The property is located at 4936 Worth Street A-e Dallas, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Five apartment units with 4402 SF, including the garage apartment; Interiors refreshed within the past five years; Separate electric meters and central HVAC for each unit
