Remodeled
For Sale
$599,900
5530 Reiger Avenue Unit 5528, Dallas, TX 75214
Two three-bedroom residences include private utilities, in-unit laundry, central air, and access to a large backyard deck.
Property Size3,230 SF
Price / SF$185.73
Days on Market165
Property Features for 5530 Reiger Avenue Unit 5528
General Information
Standard status
Active
Size
3,230 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Full Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
backyard
wooden deck
in-unit laundry
Central Air
Central
Carpet, Laminate
Electric Oven
Other
No
Composition
Two
2
Slab
Public Records
Brick, Frame, Wood, Other
Building Details
Year Built
1927
Buildings
1
Construction
brick
Listing Agency:
Luxely Real Estate
(281) 357-9887
Listed By:
Jonathan Layton · License #0537860
(281) 357-9887
Source:
Compass
Added: Mar 19
Changed: Aug 29
Last Checked: Aug 29 at 2:39PM
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 Luxely Real Estate
Investment Insights
Based on property information with market context.
This remodeled duplex contains two updated residences, each configured with 3 bedrooms and 2 bathrooms. Both units include private utilities, in-unit laundry, central air, carpet and laminate flooring, and an electric oven. The property combines brick, frame, and wood exterior elements with a composition roof and slab foundation.
Outdoor improvements include a large backyard and wooden deck. Recent work includes replacement of the roof, plumbing updates, and foundation improvements. Built in 1927, the property is located in Old East Dallas at 5530 Reiger Avenue, Unit 5528, Dallas, TX 75214.
Outdoor improvements include a large backyard and wooden deck. Recent work includes replacement of the roof, plumbing updates, and foundation improvements. Built in 1927, the property is located in Old East Dallas at 5530 Reiger Avenue, Unit 5528, Dallas, TX 75214.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 bathrooms in each residence
- Both units feature private utilities and in‑unit laundry
- Recent roof, plumbing, and foundation renovations
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
$49,115
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
8.19%
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%
$982,300
$982.3K
Cap Rate 7%
$701,643
$701.6K
Cap Rate 9%
$545,722
$545.7K
Market Conditions
NOI Build-Up for 3,230 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
$100.0K $30.96/SF
− Vacancy
−$10.7K −$3.31/SF
EGI
$89.3K $27.65/SF
− OpEx
−$40.2K −$12.44/SF
NOI
$49.1K $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%
$982,300
Cap Rate 7%
$701,643
Cap Rate 9%
$545,722
Alternative Uses
Best Use
Multifamily LT 5
$811.4K
$709.9K – $946.6K
NOI $56,795 @ 7.0% cap · market cap 9.47%
Second Best
Apartment 5plus
$701.6K
$613.9K – $818.6K
NOI $49,115 @ 7.0% cap · market cap 8.19%
Theoretical Best
Office A
$3.88M
$3.39M – $4.52M
NOI $271,301 @ 7.0% cap · market cap 45.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
557
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?
Duplex - Two three-bedroom residences include private utilities, in-unit laundry, central air, and access to a large backyard deck.
Where is this duplex located?
The property is located at 5530 Reiger Avenue Unit 5528 Dallas, TX.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 bathrooms in each residence; Both units feature private utilities and in‑unit laundry; Recent roof, plumbing, and foundation renovations
