Duplex with
For Sale
$715,000
6241 Rincon Way, Dallas, TX 75214
MULTI_FAMILY - Dallas, TX
Property Size3,216 SF
Lot Size0.28 Acres
Price / SF$222.33
Days on Market45
Property Features for 6241 Rincon Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 4, Bathroom 4, Bedroom 1, Bathroom 1
Parking
2
Parking features
Garage
Interior features
BuiltInFeatures, OpenFloorplan
Fireplace
1
Appliances
Dishwasher, ElectricCooktop, ElectricOven, Disposal, GasWaterHeater, Microwave, Refrigerator
Subdivision
Marin Way
Elementary school
Rogers
Middle school
Benjamin Franklin
High school
Hillcrest
Elementary school district
Dallas ISD
Middle school district
Dallas ISD
High school district
Dallas ISD
Directions
Head northeast on US-75 N, Use the right lane to take exit 5A for TX-12 Loop-NW Hwy, Use the right lane to take the Texas 12 Loop E-Northwest Hwy ramp, Merge onto TX-12 Loop E-E NW Hwy-Northwest Hwy, Turn right onto Abrams Rd, Turn right onto Rincon Way.
Standard status
Active
APN
00000394980520000
Size
3,216 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Description
MARIN WAY BLK B/5417 LT 8 1/2 DUPLEX SEE WITH
Tax Annual Amount
8580
Legal Description
MARIN WAY BLK B/5417 LT 8 1/2 DUPLEX SEE WITH
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
fireplace
built-in shelving
covered patio
private yard
Building Details
Year built
1970
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Brick
Roof type
Asphalt
Listing Agency:
Redfin Corporation
(972) 954-4791
Listed By:
Rachael Wang · License #0619486
(469) 208-7619
Added: Jul 17
Changed: Aug 19
Last Checked: Aug 30 at 2:06AM
MLS# 21266816
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Dallas duplex includes two parcels (6239 and 6241 Rincon Way) and features two spacious units. Each unit offers an open floor plan with a comfortable living room that includes a fireplace and built-in shelving. The kitchens come equipped with a built-in oven and cooktop, refrigerator, dishwasher, and a dining area just off the kitchen. Each unit includes two bedrooms and two full baths, including a primary suite with a private bath.
The duplex was built in 1970 and features brick construction with asphalt roofing. Interior updates include vinyl flooring and solar screens, along with upgraded roof shingles. Each unit also includes a 1-car garage, covered patio, and private yard space. Heating and cooling are provided by central systems, and the property is served by public water and public sewer.
Situated in a quiet neighborhood near shopping, schools, and US-75, the property offers flexibility for an owner-occupant or investor seeking to rent one unit while living in the other.
The duplex was built in 1970 and features brick construction with asphalt roofing. Interior updates include vinyl flooring and solar screens, along with upgraded roof shingles. Each unit also includes a 1-car garage, covered patio, and private yard space. Heating and cooling are provided by central systems, and the property is served by public water and public sewer.
Situated in a quiet neighborhood near shopping, schools, and US-75, the property offers flexibility for an owner-occupant or investor seeking to rent one unit while living in the other.
Key Highlights
- Two parcels included: 6239 and 6241 Rincon Way
- Two units, each with 1,608 SF, two bedrooms, and two full baths
- Living rooms feature a fireplace plus built‑in shelving
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
$56,548
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
7.91%
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%
$1,130,960
$1.1M
Cap Rate 7%
$807,829
$807.8K
Cap Rate 9%
$628,311
$628.3K
Market Conditions
NOI Build-Up for 3,216 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
$89.9K $27.96/SF
− Vacancy
−$9.1K −$2.84/SF
EGI
$80.8K $25.12/SF
− OpEx
−$24.2K −$7.54/SF
NOI
$56.5K $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%
$1,130,960
Cap Rate 7%
$807,829
Cap Rate 9%
$628,311
Alternative Uses
Best Use
Multifamily LT 5
$807.8K
$706.9K – $942.5K
NOI $56,548 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$698.6K
$611.3K – $815.1K
NOI $48,903 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$3.86M
$3.38M – $4.50M
NOI $270,125 @ 7.0% cap · market cap 37.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
905
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 - Duplex in Dallas offers two units with open floor plans, fireplaces, and private yards, each with a 1-car garage.
Where is this duplex located?
The property is located at 6241 Rincon Way Dallas, TX.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Two parcels included: 6239 and 6241 Rincon Way; Two units, each with 1,608 SF, two bedrooms, and two full baths; Living rooms feature a fireplace plus built‑in shelving
