Duplex with Garage
For Sale
$769,000
Pending
6209 Richmond Ave, Dallas, TX 75214
Three-unit residential income property with driveway parking, fenced yard, and in-unit laundry plus central air.
Property Size3,621 SF
Days on Market94
Property Features for 6209 Richmond Ave
General Information
Standard status
Pending
Size
3,621 SF
Property subtype
Multi-Family
Additional Details
Fenced Yard
Yes
Multifamily Units
3
Amenities
study
gas fireplace
stack washer & dryer
ceiling fans
hardwoods
driveway parking
gas stove
refrigerator
central air
gas heat
full size washer & dryer
fenced yard
wall unit air conditioning
Building Details
Year Built
1929
Listing Agency:
Davis Property Management, LLC
Listed By:
Eddie Davis · License #0398033
(214) 369-8105
Source:
Dfwareahousehunt
Added: Jun 13
Changed: Sep 9
Last Checked: Sep 13 at 11:46AM
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 Davis Property Management, LLC
Investment Insights
Based on property information with market context.
This residential income property features an upstairs unit (6209), a downstairs unit (6211), and a separate garage apartment (6209.5) located at the rear with a fenced yard. The main units include a study, gas fireplace, stack washer and dryer, ceiling fans, and hardwood floors, along with a gas stove, refrigerator, central air, and gas heat. The garage apartment includes access to a full-size washer and dryer and also has hardwood flooring in the living area, with wall unit air conditioning.
Driveway parking is provided. The property is located at 6209 Richmond Avenue in Dallas, Texas 75214.
Overall, the layout supports multiple separate residences within one property, each with core in-unit amenities such as laundry and heating/cooling.
Driveway parking is provided. The property is located at 6209 Richmond Avenue in Dallas, Texas 75214.
Overall, the layout supports multiple separate residences within one property, each with core in-unit amenities such as laundry and heating/cooling.
Key Highlights
- Three‑unit residential income property built in 1929, including units at 6209, 6211 (upstairs/downstairs) and a 6209.5 garage apartment
- Driveway parking and a fenced yard for outdoor use
- Main units feature a study, gas fireplace, hardwood floors, ceiling fans, and stack washer & dryer
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
$63,670
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
8.28%
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%
$1,273,400
$1.3M
Cap Rate 7%
$909,571
$909.6K
Cap Rate 9%
$707,444
$707.4K
Market Conditions
NOI Build-Up for 3,621 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
$101.2K $27.96/SF
− Vacancy
−$10.3K −$2.84/SF
EGI
$91.0K $25.12/SF
− OpEx
−$27.3K −$7.54/SF
NOI
$63.7K $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 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%
$1,273,400
Cap Rate 7%
$909,571
Cap Rate 9%
$707,444
Alternative Uses
Best Use
Multifamily LT 5
$909.6K
$795.9K – $1.06M
NOI $63,670 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$786.6K
$688.3K – $917.7K
NOI $55,061 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$4.34M
$3.80M – $5.07M
NOI $304,143 @ 7.0% cap · market cap 39.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,335
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Three-unit residential income property with driveway parking, fenced yard, and in-unit laundry plus central air.
Where is this duplex located?
The property is located at 6209 Richmond Ave Dallas, TX.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: Three‑unit residential income property built in 1929, including units at 6209, 6211 (upstairs/downstairs) and a 6209.5 garage apartment; Driveway parking and a fenced yard for outdoor use; Main units feature a study, gas fireplace, hardwood floors, ceiling fans, and stack washer & dryer
