Renovated Multifamily Community in
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5009 Bryan St, Dallas, TX 75206
36-unit multifamily property in East Dallas, fully renovated in 2018.
Property Size19,368 SF
Price / SF$257.59
Days on Market157
Property Features for 5009 Bryan St
General Information
Standard status
Active
Size
19,368 SF
Property subtype
Multifamily
Zoning
MF-2
Investment Type
Owner/User
Building Details
Year Built
1956
Year Renovated
2018
Buildings
2
Stories
2
Units
36
Listing Agency:
Perry Guest Investment Services
(314) 724-5734
Listed By:
Grant Guest · License #TX 0212340
Source:
Crexi
Added: Mar 11
Changed: Aug 11
Last Checked: Aug 13 at 8:48AM
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 Perry Guest Investment Services
Investment Insights
Based on property information with market context.
The Courtyards on Bryan is a 36-unit multifamily community located in East Dallas. Constructed in the 1950s, the property was extensively renovated in 2018, with updates including new roofs, electrical and plumbing systems, contemporary interiors, refreshed exteriors, and upgraded amenities. The renovation extended down to the studs. The property offers a modern living experience. It is located near the Lower Greenville entertainment district and Knox/Henderson, in a high-demand rental neighborhood. The property size is 19368 square feet.
Key Highlights
- Prime location steps from Lower Greenville and Knox/Henderson entertainment districts.
- Fully renovated in 2018, offering a modern living experience.
- Down‑to‑the‑studs renovation includes new roofs, electrical, and plumbing systems.
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
$294,510
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
5.90%
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%
$5,890,200
$5.9M
Cap Rate 7%
$4,207,286
$4.2M
Cap Rate 9%
$3,272,333
$3.3M
Market Conditions
NOI Build-Up for 19,368 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
$599.6K $30.96/SF
− Vacancy
−$64.2K −$3.31/SF
EGI
$535.5K $27.65/SF
− OpEx
−$241.0K −$12.44/SF
NOI
$294.5K $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%
$5,890,200
Cap Rate 7%
$4,207,286
Cap Rate 9%
$3,272,333
Alternative Uses
Best Use
Apartment 5plus
$4.21M
$3.68M – $4.91M
NOI $294,510 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$23.24M
$20.34M – $27.11M
NOI $1,626,800 @ 7.0% cap · market cap 32.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,586
Businesses Nearby
Explore this area
Business Placement
Demographics for 75206, TX
40,386
Population
25,844
Households
1.6
Avg Household Size
32
Median Age
77%
College-Educated
97%
High-School Grad
4.2 sq mi
ZIP Area
9,616
Density / Sq Mi
$88,464
Median Household Income
$69,953
Median Earnings
$1,715
Median Rent
$557,500
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 - 36-unit multifamily property in East Dallas, fully renovated in 2018.
Where is this apartment building located?
The property is located at 5009 Bryan St Dallas, TX.
What is the asking price?
The asking price for this property is $4,989,000.
What are key features of this property?
This property features: Prime location steps from Lower Greenville and Knox/Henderson entertainment districts.; Fully renovated in 2018, offering a modern living experience.; Down‑to‑the‑studs renovation includes new roofs, electrical, and plumbing systems.
