Full Duplex
For Sale
$750,000
621-623 Melba St, Dallas, TX 75208
Two-unit residential property completed in 2024 with rental and owner-occupant use potential.
Property Size3,530 SF
Price / SF$212.46
Days on Market66
Property Features for 621-623 Melba St
General Information
Standard status
Active
Size
3,530 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2024
Buildings
1
Listing Agency:
DHS Realty
Listed By:
Maria Figueroa · License #0804710
(888) 565-1855
Source:
Teamrobbins
Added: Aug 12
Changed: Oct 7
Last Checked: Oct 7 at 1:06PM
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 DHS Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in 2024, this full duplex at 621-623 Melba Street provides a two-unit residential configuration suited to rental occupancy or an owner-occupant arrangement. The property is located in Dallas, Texas, within the Bishop Arts District.
Boutique shops, dining venues, and nightlife are located nearby, placing the duplex within an established mixed-use district. Its address and two-unit format support both residential income and flexible occupancy considerations.
Boutique shops, dining venues, and nightlife are located nearby, placing the duplex within an established mixed-use district. Its address and two-unit format support both residential income and flexible occupancy considerations.
Key Highlights
- Full duplex with two residential units
- Built in 2024
- 621‑623 Melba Street, Dallas, TX 75208
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,070
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,241,400
$1.2M
Cap Rate 7%
$886,714
$886.7K
Cap Rate 9%
$689,667
$689.7K
Market Conditions
NOI Build-Up for 3,530 SF
Gross rent
$98.7K $27.96/SF
− Vacancy
−$10.0K −$2.84/SF
EGI
$88.7K $25.12/SF
− OpEx
−$26.6K −$7.54/SF
NOI
$62.1K $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%
$1,241,400
Cap Rate 7%
$886,714
Cap Rate 9%
$689,667
Alternative Uses
Best Use
Multifamily LT 5
$886.7K
$775.9K – $1.03M
NOI $62,070 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$766.8K
$671.0K – $894.6K
NOI $53,677 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$4.24M
$3.71M – $4.94M
NOI $296,500 @ 7.0% cap · market cap 39.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,533
Businesses Nearby
Explore this area
Business Placement
Demographics for 75208, TX
29,446
Population
13,655
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
76%
High-School Grad
6.1 sq mi
ZIP Area
4,827
Density / Sq Mi
$76,502
Median Household Income
$48,460
Median Earnings
$1,589
Median Rent
$415,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property completed in 2024 with rental and owner-occupant use potential.
Where is this duplex located?
The property is located at 621-623 Melba St Dallas, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Full duplex with two residential units; Built in 2024; 621‑623 Melba Street, Dallas, TX 75208
