New Construction
For Sale
$1,195,000
626 Wayne Street, Dallas, TX 75223
Two vacant units offer open-concept interiors, private fenced yards, and oversized garages for immediate leasing flexibility.
Property Size4,200 SF
Price / SF$284.52
Days on Market147
Property Features for 626 Wayne Street
General Information
Standard status
Active
Size
4,200 SF
Total Parking Spaces
6
Property subtype
Multi-Family / Full Duplex
Amenities
Zoned
No
Luxury Vinyl Plank
Commercial Grade Vent, Dishwasher, Disposal, Electric Cooktop, Electric Water Heater, Microwave
1
Built-in Features, Chandelier, Decorative Lighting, Double Vanity, Eat-in Kitchen, Kitchen Island, Open Floorplan, Pantry, Vaulted Ceiling(s), Walk-In Closet(s)
Electric, Living Room
Yes
Shingle
Two
2
Slab
Builder
See Remarks
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Woodall and Co. Realty, LLC
(214) 738-0070
Listed By:
Cooper Johnson · License #0803700
(214) 738-0070
Source:
Compass
Added: Apr 6
Changed: Aug 30
Last Checked: Aug 30 at 8:06AM
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 Woodall and Co. Realty, LLC
Investment Insights
Based on property information with market context.
Completed in 2026, this two-unit duplex presents a modern residential income property with both units currently vacant. Each residence is arranged around an open-concept plan with vaulted ceilings, natural light, an oversized kitchen island, pantry, contemporary lighting, electric fireplace, energy-efficient windows, and appliances. Primary suites include dual walk-in closets, while private fenced backyards and oversized garages add functional outdoor and storage space. The property also includes a 1-2-10 builder warranty.
The duplex is located at 626 Wayne Street in Dallas, near White Rock Lake, Lower Greenville, the Santa Fe Trail, Greenville Avenue, Lakewood, and Downtown Dallas. Its proximity to these established destinations and employment centers provides a well-connected setting for residential leasing.
With both sides unoccupied, the property can be positioned for traditional leasing or furnished and medium-term rental strategies, as supported by the existing configuration.
The duplex is located at 626 Wayne Street in Dallas, near White Rock Lake, Lower Greenville, the Santa Fe Trail, Greenville Avenue, Lakewood, and Downtown Dallas. Its proximity to these established destinations and employment centers provides a well-connected setting for residential leasing.
With both sides unoccupied, the property can be positioned for traditional leasing or furnished and medium-term rental strategies, as supported by the existing configuration.
Key Highlights
- Two‑unit duplex completed in 2026
- Both units are vacant
- 4,200 total property size
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
$73,851
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
6.18%
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%
$1,477,020
$1.5M
Cap Rate 7%
$1,055,014
$1.1M
Cap Rate 9%
$820,567
$820.6K
Market Conditions
NOI Build-Up for 4,200 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
$117.4K $27.96/SF
− Vacancy
−$11.9K −$2.84/SF
EGI
$105.5K $25.12/SF
− OpEx
−$31.7K −$7.54/SF
NOI
$73.9K $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 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%
$1,477,020
Cap Rate 7%
$1,055,014
Cap Rate 9%
$820,567
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$923.1K – $1.23M
NOI $73,851 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$912.4K
$798.3K – $1.06M
NOI $63,865 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$5.04M
$4.41M – $5.88M
NOI $352,776 @ 7.0% cap · market cap 29.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Explore this area
Business Placement
Demographics for 75223, TX
13,898
Population
4,872
Households
2.9
Avg Household Size
35
Median Age
24%
College-Educated
65%
High-School Grad
3.1 sq mi
ZIP Area
4,483
Density / Sq Mi
$66,641
Median Household Income
$35,470
Median Earnings
$1,363
Median Rent
$244,000
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 - Two vacant units offer open-concept interiors, private fenced yards, and oversized garages for immediate leasing flexibility.
Where is this duplex located?
The property is located at 626 Wayne Street Dallas, TX.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Two‑unit duplex completed in 2026; Both units are vacant; 4,200 total property size
