Duplex with Separate
5315 Colonial Avenue, Dallas, TX 75215
For Sale
New
$326,000
ResidentialIncome, Dallas, TX
Property Size1,680 SF
Lot Size0.16 Acres
Price / SF$194.05
Days on Market3
Property Features for 5315 Colonial Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Interior features
Appliances
Subdivision
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Listing Agency:
Redfin Corporation
(972) 954-4791
Listed By:
Vanessa Brandt · License TX #0587876
(469) 208-7619
Added: Nov 7
Changed: Nov 9
Last Checked: Nov 9 at 7:06PM
MLS# 21429116
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This Dallas duplex contains two residences, each with three bedrooms, one full bathroom, a living area, and a separate kitchen. The combined building measures 1,680 square feet on a 0.161-acre lot. Improvements include HVAC systems, updated electrical, LVT flooring, remodeled kitchens, energy-efficient windows, and refreshed interior finishes and fixtures. The property also has driveway parking, public water and sewer, and a composition roof.
At 5315 Colonial Avenue, the property is in the South Dallas-Fair Park corridor, with access to Downtown Dallas, Fair Park, Interstate 30, Interstate 45, and DART transit. Both residences are offered together under one address.
At 5315 Colonial Avenue, the property is in the South Dallas-Fair Park corridor, with access to Downtown Dallas, Fair Park, Interstate 30, Interstate 45, and DART transit. Both residences are offered together under one address.
Key Highlights
- Two residences, each with 3 bedrooms and 1 full bathroom
- 1,680‑square‑foot building on a 0.161‑acre lot
- Separate kitchens, living areas, and driveway parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,540
Cap Rate
9.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$590,800
$590.8K
Cap Rate 7%
$422,000
$422.0K
Cap Rate 9%
$328,222
$328.2K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$47.0K $27.96/SF
− Vacancy
−$4.8K −$2.84/SF
EGI
$42.2K $25.12/SF
− OpEx
−$12.7K −$7.54/SF
NOI
$29.5K $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 Rate 5%
$590,800
Cap Rate 7%
$422,000
Cap Rate 9%
$328,222
Alternative Uses
Best Use
Multifamily LT 5
$422.0K
$369.3K – $492.3K
NOI $29,540 @ 7.0% cap · market cap 9.06%
Second Best
Apartment 5plus
$364.9K
$319.3K – $425.8K
NOI $25,546 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$2.02M
$1.76M – $2.35M
NOI $141,110 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Explore this area
Business Placement
Demographics for 75215, TX
18,806
Population
8,481
Households
2.2
Avg Household Size
37
Median Age
17%
College-Educated
73%
High-School Grad
7.7 sq mi
ZIP Area
2,442
Density / Sq Mi
$41,388
Median Household Income
$34,114
Median Earnings
$1,209
Median Rent
$137,700
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Dallas, TX
Properties on Market for Duplexes in Dallas
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences share one address, with separate kitchens and driveway parking.
Where is this duplex located?
The property is located at 5315 Colonial Avenue Dallas, TX.
What is the asking price?
The asking price for this property is $326,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 1 full bathroom; 1,680‑square‑foot building on a 0.161‑acre lot; Separate kitchens, living areas, and driveway parking
