Townhome-Style Multifamily
For Sale
$3,299,999
629 North Tyler Street, Dallas, TX 75208
For sale: a single-building community of eight newly constructed 2-bedroom townhomes with attached garages.
Property Size10,283 SF
Price / SF$320.92
Days on Market173
Property Features for 629 North Tyler Street
General Information
Standard status
Active
Size
10,283 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Multiple Single Units
Occupancy
100%
Additional Details
Multifamily Units
8
Amenities
Central Air, Electric
Natural Gas
No
Luxury Vinyl Plank, Tile
Dishwasher, Disposal, Dryer, Gas Range
10283.0
Kitchen Island, Pantry
Yes
Shingle
Three Or More
3
Slab
Builder
8
Board & Batten Siding, Brick
Building Details
Year Built
2024
Buildings
1
Tenancy
Multi
Listing Agency:
The Table Brokerage
Listed By:
DeCarla Cruz · License #0756103
(469) 797-5110
Source:
Compass
Added: Mar 19
Changed: Aug 8
Last Checked: Jul 21 at 3:42PM
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.
629 N Tyler Street offers a single-building configuration with eight townhomes. The newly constructed residences feature multi-level layouts with 2 bedrooms, attached garages, open-concept living areas, and modern kitchens equipped with stainless steel appliances and a tankless hot water heater. Units also include energy-efficient windows and high ceilings, with primary suites offering walk-in closets and spa-like bathrooms.
The property is described as being less than a minute from the Bishop Arts District, with quick access to Trinity Groves and Kessler Park, and commuting options to Downtown, Uptown, and major highways. Public remarks also note the building is 100% occupied. Contact the leasing agent for additional information.
The property is described as being less than a minute from the Bishop Arts District, with quick access to Trinity Groves and Kessler Park, and commuting options to Downtown, Uptown, and major highways. Public remarks also note the building is 100% occupied. Contact the leasing agent for additional information.
Key Highlights
- 8 newly constructed 2‑bedroom townhomes in a single 3+ story building
- Each unit includes an attached garage and multi‑level floorplans
- Central air and natural gas heating; tankless hot water heater
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
4.74%
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 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.34M
$10.80M – $14.40M
NOI $863,713 @ 7.0% cap · market cap 26.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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 - For sale: a single-building community of eight newly constructed 2-bedroom townhomes with attached garages.
Where is this apartment building located?
The property is located at 629 North Tyler Street Dallas, TX.
What is the asking price?
The asking price for this property is $3,299,999.
What are key features of this property?
This property features: 8 newly constructed 2‑bedroom townhomes in a single 3+ story building; Each unit includes an attached garage and multi‑level floorplans; Central air and natural gas heating; tankless hot water heater
