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    Renovated Duplex with Live-Work Flex Title is generated by Realmo AI

    500 W 7th Street, Dallas, TX 75208

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    For Sale
    $1,025,000

    MULTI_FAMILY - Dallas, TX

    Lot size:
    0.11 Acres
    Added:
    Mar 5, 2026
    Days on Market:
    90
    Last Refresh:
    Jun 3 at 2:06 pm

    Property Features for 500 W 7th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    4
    Interior features
    DecorativeDesignerLightingFixtures, EatInKitchen, HighSpeedInternet, MultipleStaircases, OpenFloorplan, CableTv, WalkInClosets
    Exterior features
    Lighting
    Fireplace
    1
    Appliances
    SomeGasAppliances, Dishwasher, Disposal, GasRange, PlumbedForGas, Refrigerator
    Standard status
    Active
    APN
    00000254818000000
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Description
    HILLSIDE BLK 4/3144 LT 11
    Tax Annual Amount
    22216

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1917
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Tile, Hardwood
    Building materials
    WoodSiding
    Roof type
    Composition

    We can help!

    Listing Contact
    Jansen Klefeker

    Listing agent Jansen Klefeker License #0691069

    Listing office Christie's Lone Star Dallas, TX

    Listing date Mar 5, 2026

    MLS# 21178935 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Renovated duplex built in 1917 with preserved historic character, designer lighting, walk‑in closets, hardwood and tile flooring
    • Upper residence features an open floorplan with 2 bedrooms, 2 full baths, an eat‑in kitchen, and a flex space for an office/studio/3rd bedroom
    • Lower level is zoned for mixed‑use commercial with front and rear entrances, plus an ADA‑compliant bathroom
    • Dedicated rear parking for approximately 4–5 vehicles serving the lower level
    • Extensive upgrades include updated plumbing and electrical, spray foam insulation, reinforced framing, Andersen windows, and roof replacement in 2021
    • Dual HVAC systems with new ducting; heating includes central natural gas and cooling includes electric central air, plus a fireplace

    Overview

    This beautifully renovated duplex delivers a flexible split-use arrangement with extensive updates throughout. The upper residence features an open floorplan with two bedrooms and two full baths, a thoughtfully appointed kitchen, and a versatile third flex space that can serve as a home office, studio, or additional bedroom. Natural light, hardwood floors, and preserved historic character help create a warm, inviting interior. The lower level is zoned for mixed-use commercial and includes both front and rear entrances, an ADA-compliant bathroom, and dedicated rear parking for approximately four to five vehicles.

    Located in the heart of Bishop Arts at 500 W 7th Street in Dallas (75208), the property offers walkability to shops, dining, and entertainment just outside your door. The configuration supports privacy and usability for both residents and business needs, with separate entrances and on-site parking in the back.

    This is an excellent fit for an owner-occupant who wants to live upstairs while operating a retail, office, or studio concept below. It also appeals to investors looking for a property that can function as both a residence and a commercial space, with recent mechanical and structural improvements including updated plumbing and electrical, spray foam insulation, reinforced framing, dual HVAC systems with new ducting, Andersen windows, and a roof replacement completed in 2021. Furniture in the upstairs unit may convey with an acceptable offer.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Collin
    State
    Texas
    Longitude
    -96.830361
    Latitude
    32.748716

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    FAQs

    What type of property is this?
    Duplex - A fully renovated duplex offering a split-use setup with an upstairs residence and a mixed-use commercial lower level.
    Where is this duplex located?
    The property is located at 500 W 7th Street Dallas, TX.
    What is the asking price?
    The asking price for this property is $1,025,000.
    What are key features of this property?
    This property features: Renovated duplex built in 1917 with preserved historic character, designer lighting, walk‑in closets, hardwood and tile flooring; Upper residence features an open floorplan with 2 bedrooms, 2 full baths, an eat‑in kitchen, and a flex space for an office/studio/3rd bedroom; Lower level is zoned for mixed‑use commercial with front and rear entrances, plus an ADA‑compliant bathroom
    (214) 821-3336
    We can help!
    Listing Contact
    Jansen Klefeker
    Real Estate License ID: 0691069
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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