Three-Unit
For Sale
$584,900
503 E 6th St, Dallas, TX 75203
Separate floor plans include one-, two-, and three-bedroom units.
Property Size2,785 SF
Price / SF$210.02
Days on Market13
Property Features for 503 E 6th St
General Information
Standard status
Active
Size
2,785 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Building Details
Year Built
1921
Listing Agency:
Monument Realty
(214) 705-7827
Listed By:
Connie Segovia · License #0695436
Source:
Thebryandavisgroup
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 25 at 5:38AM
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 Monument Realty
Investment Insights
Based on property information with market context.
This 1921 triplex contains three residential units totaling 2,785 square feet. Unit 501 provides 776 square feet with one bedroom, one bathroom, a large living room, an eat-in kitchen, and a walk-in closet. Unit 503 includes 1,110 square feet, three bedrooms, one bathroom, a broad living area, and substantial kitchen and dining spaces. Unit 505 adds 899 square feet with two bedrooms, one bathroom, an eat-in kitchen, and a comfortable living room.
The property is located at 503 E 6th St in Dallas's Lake Cliff area, near downtown Dallas and within walking distance of Bishop Arts, shopping, and dining. Major highways and public transportation are also nearby. The three-unit configuration supports rental occupancy, multigenerational use, or a combination of owner occupancy and leasing, as described for the property.
The property is located at 503 E 6th St in Dallas's Lake Cliff area, near downtown Dallas and within walking distance of Bishop Arts, shopping, and dining. Major highways and public transportation are also nearby. The three-unit configuration supports rental occupancy, multigenerational use, or a combination of owner occupancy and leasing, as described for the property.
Key Highlights
- Three residential units totaling 2,785 square feet
- Unit 501: 776 sq. ft., 1 bedroom, 1 bath
- Unit 503: 1,110 sq. ft., 3 bedrooms, 1 bath
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
$48,970
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
8.37%
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%
$979,400
$979.4K
Cap Rate 7%
$699,571
$699.6K
Cap Rate 9%
$544,111
$544.1K
Market Conditions
NOI Build-Up for 2,785 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
$77.9K $27.96/SF
− Vacancy
−$7.9K −$2.84/SF
EGI
$70.0K $25.12/SF
− OpEx
−$21.0K −$7.54/SF
NOI
$49.0K $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%
$979,400
Cap Rate 7%
$699,571
Cap Rate 9%
$544,111
Alternative Uses
Best Use
Multifamily LT 5
$699.6K
$612.1K – $816.2K
NOI $48,970 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$605.0K
$529.4K – $705.8K
NOI $42,349 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$3.34M
$2.92M – $3.90M
NOI $233,924 @ 7.0% cap · market cap 39.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,189
Businesses Nearby
Explore this area
Business Placement
Demographics for 75203, TX
14,710
Population
6,862
Households
2.1
Avg Household Size
33
Median Age
17%
College-Educated
65%
High-School Grad
4.8 sq mi
ZIP Area
3,065
Density / Sq Mi
$46,358
Median Household Income
$32,690
Median Earnings
$1,110
Median Rent
$125,000
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?
Triplex - Separate floor plans include one-, two-, and three-bedroom units.
Where is this triplex located?
The property is located at 503 E 6th St Dallas, TX.
What is the asking price?
The asking price for this property is $584,900.
What are key features of this property?
This property features: Three residential units totaling 2,785 square feet; Unit 501: 776 sq. ft., 1 bedroom, 1 bath; Unit 503: 1,110 sq. ft., 3 bedrooms, 1 bath
