Duplex with Private
For Sale
$290,000
502 Northeast 19th Street, Grand Prairie, TX 75050
Clean, updated duplex units with separate driveways and fenced backyards, currently fully occupied.
Property Size1,372 SF
Price / SF$211.37
Days on Market483
Property Features for 502 Northeast 19th Street
General Information
Standard status
Active
Size
1,372 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Full Duplex
Occupancy
100%
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Amenities
Ceiling Fan(s), Central Air, Electric
Central, Natural Gas
No
Hardwood, Tile
Dishwasher, Electric Range
Cable TV Available, High Speed Internet Available
Composition, Shingle
One
Chain Link
Covered Patio/Porch
1
Other
Public Records
2
Siding, Wood
Covered, Front Porch
Building Details
Year Built
1951
Buildings
1
Tenancy
Multi
Listing Agency:
Tx Land & Legacy Realty, LLC
(817) 832-4273
Listed By:
Bryson Swiggart · License #0634498
(817) 832-4273
Source:
Compass
Added: May 5, 2025
Changed: Aug 8
Last Checked: Jul 22 at 10:04PM
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 Tx Land & Legacy Realty, LLC
Investment Insights
Based on property information with market context.
This duplex offers two income-producing units with separate parking via individual driveways and fenced backyards. The units have been kept in good condition with updates including updated paint, refinished flooring, and updated interior finishes such as appliances and cabinets.
The property is located just south of IH 30 in Grand Prairie, providing access to commutes on both sides of the interstate. The area is also described as close to growth along the 161 Tollway.
Both units are currently occupied, providing immediate rental income for an owner. Unit 502 is a 2-bedroom, 1-bath unit and Unit 504 is a 1-bedroom, 1-bath unit, with tenants paying all utilities and performing lawn maintenance.
The property is located just south of IH 30 in Grand Prairie, providing access to commutes on both sides of the interstate. The area is also described as close to growth along the 161 Tollway.
Both units are currently occupied, providing immediate rental income for an owner. Unit 502 is a 2-bedroom, 1-bath unit and Unit 504 is a 1-bedroom, 1-bath unit, with tenants paying all utilities and performing lawn maintenance.
Key Highlights
- Duplex with 2 total units in a 1‑story home built in 1951
- 100% occupied: Unit 502 (2BD/1BA) leases for $1,150/month; Unit 504 (1BD/1BA) leases for $1,095/month
- Tenants pay all utilities and handle lawn maintenance
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
$13,614
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
4.69%
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%
$272,280
$272.3K
Cap Rate 7%
$194,486
$194.5K
Cap Rate 9%
$151,267
$151.3K
Market Conditions
NOI Build-Up for 1,372 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
$20.6K $15.00/SF
− Vacancy
−$1.1K −$0.83/SF
EGI
$19.4K $14.17/SF
− OpEx
−$5.8K −$4.25/SF
NOI
$13.6K $9.92/SF
Area
Grand Prairie, TX
Vacancy
5.50%
Lease Rate
$15.00 /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%
$272,280
Cap Rate 7%
$194,486
Cap Rate 9%
$151,267
Alternative Uses
Best Use
Multifamily LT 5
$194.5K
$170.2K – $226.9K
NOI $13,614 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$181.0K
$158.4K – $211.2K
NOI $12,672 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$385.7K
$337.5K – $450.0K
NOI $27,001 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
Explore this area
Business Placement
Demographics for 75050, TX
43,531
Population
17,286
Households
2.5
Avg Household Size
33
Median Age
23%
College-Educated
79%
High-School Grad
25.8 sq mi
ZIP Area
1,687
Density / Sq Mi
$70,484
Median Household Income
$39,322
Median Earnings
$1,412
Median Rent
$224,400
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?
Duplex - Clean, updated duplex units with separate driveways and fenced backyards, currently fully occupied.
Where is this duplex located?
The property is located at 502 Northeast 19th Street Grand Prairie, TX.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Duplex with 2 total units in a 1‑story home built in 1951; 100% occupied: Unit 502 (2BD/1BA) leases for $1,150/month; Unit 504 (1BD/1BA) leases for $1,095/month; Tenants pay all utilities and handle lawn maintenance
