Updated Condo with Flexible
For Sale
$200,000
578 E Avenue J #A Grand, Grand Prairie, TX 75050
Updated condo with two living areas, community amenities, and prime location.
Property Size1,568 SF
Price / SF$127.55
Days on Market394
Property Features for 578 E Avenue J #A Grand
General Information
Standard status
Active
Size
1,568 SF
Property subtype
Condominium
Amenities
Cable Ready
Electric
Central
Central Air
Ceiling Fan(s)
Dishwasher
Electric Range
Disposal
Microwave
Vented Exhaust Fan
Deck, Sewer Available, Water Available, Cable Available, Composition
Building Details
Building Size
1,568 SF
Year Built
1968
Stories
2
Listing Agency:
Texas Starpath Partners Inc
Listed By:
Jordan Davis · License #0632691
(817) 313-7973
Source:
Kw
Added: Aug 5, 2025
Changed: Aug 16
Last Checked: Sep 1 at 3:16PM
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 Texas Starpath Partners Inc
Investment Insights
Based on property information with market context.
This updated condo features a flexible floorplan with two spacious living areas suitable for entertaining or relaxing. The front room includes built-in cabinetry and can function as a formal dining room, home office, or library. The kitchen is equipped with granite countertops, a designer backsplash, Shaker-style cabinetry, and stainless steel appliances. The adjoining living room offers an open-concept layout with wood flooring, crown molding, and natural light. The primary suite includes a sitting area and an updated bathroom with dual sinks and a walk-in shower. A secondary bedroom, bathroom, and private balcony are also located on the second level. The condo is equipped with two AC units, with one unit replaced in July 2023. Community amenities include a swimming pool and a fitness center. The property is located with access to Highway 360 and I-30, near shopping, dining, entertainment, and major employers. The property size is 1568 square feet.
Key Highlights
- Updated condo with FLEXIBLE FLOORPLAN and TWO SPACIOUS LIVING AREAS.
- Kitchen features GRANITE COUNTERTOPS, designer backsplash, Shaker‑style cabinetry, and stainless steel appliances.
- Primary suite includes a SPACIOUS SITTING AREA and updated bathroom with dual sinks and a large walk‑in shower.
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
$14,483
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
7.24%
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%
$289,660
$289.7K
Cap Rate 7%
$206,900
$206.9K
Cap Rate 9%
$160,922
$160.9K
Market Conditions
NOI Build-Up for 1,568 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
$27.7K $17.64/SF
− Vacancy
−$1.3K −$0.85/SF
EGI
$26.3K $16.79/SF
− OpEx
−$11.8K −$7.56/SF
NOI
$14.5K $9.24/SF
Area
Grand Prairie, TX
Vacancy
4.80%
Lease Rate
$17.64 /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%
$289,660
Cap Rate 7%
$206,900
Cap Rate 9%
$160,922
Alternative Uses
Best Use
Apartment 5plus
$206.9K
$181.0K – $241.4K
NOI $14,483 @ 7.0% cap · market cap 7.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$440.8K
$385.7K – $514.3K
NOI $30,858 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
Explore this area
Business Placement
Demographics for 75050, TX
43,531
Population
17,286
Households
2.5
Avg Household Size
33
Median Age
23%
College-Educated
79%
High-School Grad
25.8 sq mi
ZIP Area
1,687
Density / Sq Mi
$70,484
Median Household Income
$39,322
Median Earnings
$1,412
Median Rent
$224,400
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?
Apartment building - Updated condo with two living areas, community amenities, and prime location.
Where is this apartment building located?
The property is located at 578 E Avenue J #A Grand Grand Prairie, TX.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Updated condo with FLEXIBLE FLOORPLAN and TWO SPACIOUS LIVING AREAS.; Kitchen features GRANITE COUNTERTOPS, designer backsplash, Shaker‑style cabinetry, and stainless steel appliances.; Primary suite includes a SPACIOUS SITTING AREA and updated bathroom with dual sinks and a large walk‑in shower.
