Building Details

Year Built 1925

Listing Agency: BK Real Estate

Listed By: Harrison Sharp · License #0735232 Show Phone

Source: Cityupgroup

Added: Apr 13 Changed: Oct 17 Last Checked: Oct 16 at 10:16AM

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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.

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 / Yr

$58,513

Cap Rate

8.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,170,260 $1.2M

Cap Rate 7%

$835,900 $835.9K

Cap Rate 9%

$650,144 $650.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,848 SF

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 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 (±1% cap)

NOI $67,661 @ 7.0% cap · market cap 9.33%

Second Best

Apartment 5plus

$835.9K

$731.4K – $975.2K (±1% cap)

NOI $58,513 @ 7.0% cap · market cap 8.07%

Theoretical Best

Office A

$4.62M

$4.04M – $5.39M (±1% cap)

NOI $323,210 @ 7.0% cap · market cap 44.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Pink Kitty Studios Photography Service

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Computer & Electronic Repair Acupuncture Pharmacy Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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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 Ave 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