Building Details

Year Built 1929

Listing Agency: Keller Williams Realty DPR

Listed By: Alisa Winston · License #0669894 Show Phone

Source: Christenberrygroup

Added: Aug 17 Changed: Oct 9 Last Checked: Oct 13 at 1:22AM

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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 Keller Williams Realty DPR

Investment Insights

Based on property information with market context.

Built in 1929, this 2,840-square-foot duplex contains two separate residences with hardwood flooring across the living areas, dining rooms, and bedrooms. The lower unit at 6129 Reiger Avenue offers 2 bedrooms, 1 full bath, 1 half bath, and backyard access. The upper unit at 6131 Reiger Avenue includes 2 bedrooms, 1 full bath, and a large balcony. Recent improvements include remodeled bathrooms, replaced plumbing, updated HVAC units, and new light fixtures. Refrigerators, washers, and dryers are included in both units.

The property occupies a large fenced lot without an HOA and is zoned to Lakewood Elementary. It is located between Lakewood and the Munger Place Historic District, with Whole Foods, restaurants, retail, recreation centers, White Rock Lake, Lakewood Country Club Golf Course, and Randall Park nearby. Downtown Dallas and Uptown Dallas are also in the surrounding area.

Key Highlights

• 2,840‑square‑foot duplex built in 1929
• Two 2‑bedroom units with separate living spaces
• Lower unit includes 1 full bath, 1 half bath, and backyard access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$49,937

Cap Rate

7.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$998,740 $998.7K

Cap Rate 7%

$713,386 $713.4K

Cap Rate 9%

$554,856 $554.9K

Market Conditions

NOI Build-Up for 2,840 SF

Gross rent

$79.4K $27.96/SF

− Vacancy

−$8.1K −$2.84/SF

EGI

$71.3K $25.12/SF

− OpEx

−$21.4K −$7.54/SF

NOI

$49.9K $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%

$998,740

Cap Rate 7%

$713,386

Cap Rate 9%

$554,856

Alternative Uses

Best Use

Multifamily LT 5

$713.4K

$624.2K – $832.3K (±1% cap)

NOI $49,937 @ 7.0% cap · market cap 7.13%

Second Best

Apartment 5plus

$616.9K

$539.8K – $719.8K (±1% cap)

NOI $43,185 @ 7.0% cap · market cap 6.17%

Theoretical Best

Office A

$3.41M

$2.98M – $3.98M (±1% cap)

NOI $238,544 @ 7.0% cap · market cap 34.08%

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

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Pharmacy Big Box & Wholesale Store Auto Parts Store Parking Lot & Garage Electrical 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.

Location Intelligence

Trade Area within ½ mile

860

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Both residences include refrigerators, washers, and dryers.

Where is this duplex located?

The property is located at 6129 & 6131 Reiger Ave Dallas, TX.

What is the asking price?

The asking price for this property is $699,900.

What are key features of this property?

This property features: 2,840‑square‑foot duplex built in 1929; Two 2‑bedroom units with separate living spaces; Lower unit includes 1 full bath, 1 half bath, and backyard access