East Dallas Quadplex with Unit
For Sale
$725,000
5309 Reiger Avenue, Dallas, TX 75214
Four-unit residential income property with varied layouts, tenant-paid electric, and recent system updates.
Property Size3,848 SF
Price / SF$188.41
Days on Market143
Property Features for 5309 Reiger Avenue
General Information
Standard status
Active
Size
3,848 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Fourplex
Units
Unit Mix
3 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
4
Additional Details
Average Monthly Rent
$1,148
Amenities
Central Air, Electric
Central, Electric
Varies
Other
Cable TV Available, High Speed Internet Available
No
Composition
Two
2
Public Records
4
Building Details
Year Built
1925
Buildings
1
Listing Agency:
BK Real Estate
Listed By:
Harrison Sharp · License #0735232
(214) 833-8403
Source:
Compass
Added: Apr 13
Changed: Aug 31
Last Checked: Aug 29 at 9:58PM
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 BK Real Estate
Investment Insights
Based on property information with market context.
Located at 5309 Reiger Avenue in Dallas, this 3,848-square-foot quadplex was built in 1925 and contains four residential units. Three apartments are configured with one bedroom and one bathroom, while the remaining unit offers two bedrooms and one bathroom. The property is currently occupied, with tenants responsible for their own electric service. Water arrangements vary by unit location: upstairs residents pay their water, while the owner covers water for the lower units.
Recent property work includes replacement of all PVC waste lines, three of the four HVAC units replaced within the last 5 years, and a roof replacement completed in 2012. The property is in East Dallas and sits within walking distance of Swiss Avenue.
Recent property work includes replacement of all PVC waste lines, three of the four HVAC units replaced within the last 5 years, and a roof replacement completed in 2012. The property is in East Dallas and sits within walking distance of Swiss Avenue.
Key Highlights
- 3,848‑square‑foot quadplex built in 1925
- Four units: three 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit
- Three of 4 HVAC units replaced within the last 5 years
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
$58,513
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
8.07%
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%
$1,170,260
$1.2M
Cap Rate 7%
$835,900
$835.9K
Cap Rate 9%
$650,144
$650.1K
Market Conditions
NOI Build-Up for 3,848 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
$119.1K $30.96/SF
− Vacancy
−$12.7K −$3.31/SF
EGI
$106.4K $27.65/SF
− OpEx
−$47.9K −$12.44/SF
NOI
$58.5K $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%
$1,170,260
Cap Rate 7%
$835,900
Cap Rate 9%
$650,144
Alternative Uses
Best Use
Multifamily LT 5
$966.6K
$845.8K – $1.13M
NOI $67,661 @ 7.0% cap · market cap 9.33%
Second Best
Apartment 5plus
$835.9K
$731.4K – $975.2K
NOI $58,513 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$4.62M
$4.04M – $5.39M
NOI $323,210 @ 7.0% cap · market cap 44.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
819
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?
Quadplex - Four-unit residential income property with varied layouts, tenant-paid electric, and recent system updates.
Where is this quadplex located?
The property is located at 5309 Reiger Avenue Dallas, TX.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,848‑square‑foot quadplex built in 1925; Four units: three 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit; Three of 4 HVAC units replaced within the last 5 years
