8-Unit Apartment
For Sale
$3,250,000
Pending
629 N Tyler St Unit 101-108, Dallas, TX 75208
Newly built townhome residences combine private garages, contemporary interiors, and proximity to Bishop Arts District.
Property Size10,283 SF
Days on Market87
Property Features for 629 N Tyler St Unit 101-108
General Information
Standard status
Pending
Size
10,283 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
8 x 2BR
Multifamily Units
8
Amenities
attached garages
energy-efficient windows
high ceilings
stainless steel appliances
tankless hot water heater
spa-like bathrooms
walk-in closets
Building Details
Year Built
2024
Buildings
1
Listing Agency:
The Table Brokerage
(469) 797-5110
Listed By:
Decarla Cruz · License #0756103
Source:
Divinerealtygrp
Added: Jun 6
Changed: Aug 29
Last Checked: Aug 30 at 6:13PM
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 The Table Brokerage
Investment Insights
Based on property information with market context.
Completed in 2024, this 10,283-square-foot multifamily property contains eight townhome residences within a single building. The two-bedroom layouts span multiple levels and include attached garages, open living areas, high ceilings, energy-efficient windows, and contemporary kitchen packages with stainless steel appliances and tankless hot water heaters. Primary suites add spa-style bathrooms and walk-in closets.
The property is located at 629 N Tyler St in Dallas, less than one minute from the Bishop Arts District. Trinity Groves and Kessler Park are also minutes away, with Downtown, Uptown, and major highways accessible for regional commuting. The asset is reported as 100% occupied.
The property is located at 629 N Tyler St in Dallas, less than one minute from the Bishop Arts District. Trinity Groves and Kessler Park are also minutes away, with Downtown, Uptown, and major highways accessible for regional commuting. The asset is reported as 100% occupied.
Key Highlights
- Eight townhomes in one building, totaling 10,283 square feet
- Built in 2024 and reported as 100% occupied
- Each residence offers 2 bedrooms and an attached garage
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
$156,363
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
4.81%
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%
$3,127,260
$3.1M
Cap Rate 7%
$2,233,757
$2.2M
Cap Rate 9%
$1,737,367
$1.7M
Market Conditions
NOI Build-Up for 10,283 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
$318.4K $30.96/SF
− Vacancy
−$34.1K −$3.31/SF
EGI
$284.3K $27.65/SF
− OpEx
−$127.9K −$12.44/SF
NOI
$156.4K $15.21/SF
Area
Dallas, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
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%
$3,127,260
Cap Rate 7%
$2,233,757
Cap Rate 9%
$1,737,367
Alternative Uses
Best Use
Apartment 5plus
$2.23M
$1.95M – $2.61M
NOI $156,363 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.34M
$10.80M – $14.40M
NOI $863,713 @ 7.0% cap · market cap 26.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,086
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Newly built townhome residences combine private garages, contemporary interiors, and proximity to Bishop Arts District.
Where is this apartment building located?
The property is located at 629 N Tyler St Unit 101-108 Dallas, TX.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Eight townhomes in one building, totaling 10,283 square feet; Built in 2024 and reported as 100% occupied; Each residence offers 2 bedrooms and an attached garage
