Furnished Duplex with Four-Car
New
For Sale
$739,900
7428 Walling Lane, Dallas, TX 75231
Two distinct residences convey with existing furnishings and appliances.
Property Size2,679 SF
Days on Market3
Property Features for 7428 Walling Lane
General Information
Standard status
Active
Size
2,679 SF
Total Parking Spaces
4
Property subtype
Duplex
Units
Unit Mix
3BR/2BA, 2BR/1BA
Multifamily Units
2
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$14,702
Building Details
Building Size
2,679 SF
Year Built
1963
Listing Agency:
Realty One Group Forward Living
Listed By:
Linnea Lavell · License #0515179
(214) 280-5900
Source:
Baerealty
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 23 at 3:02AM
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 Realty One Group Forward Living
Investment Insights
Based on property information with market context.
Located at 7428 Walling Lane in Dallas, this 1963-built duplex combines two independent living spaces with flexible shared access. One residence contains 3 bedrooms and 2 baths, while the other offers 2 bedrooms and 1 bath. A common entrance area leads to separate private entries for each unit, preserving practical separation between the homes. Existing furniture and appliances are included with the property.
Each residence is served by a detached two-car garage, creating four garage spaces in total for parking, storage, or other workspace needs. The property is positioned near major roadways and provides access to The Shops at Park Lane, NorthPark Center, The Hill, White Rock Lake, the Dallas Arboretum, and Downtown Dallas. The surrounding East Dallas area also includes restaurants, cafes, services, shopping, and entertainment.
Each residence is served by a detached two-car garage, creating four garage spaces in total for parking, storage, or other workspace needs. The property is positioned near major roadways and provides access to The Shops at Park Lane, NorthPark Center, The Hill, White Rock Lake, the Dallas Arboretum, and Downtown Dallas. The surrounding East Dallas area also includes restaurants, cafes, services, shopping, and entertainment.
Key Highlights
- Two‑unit duplex with 3‑bedroom, 2‑bath and 2‑bedroom, 1‑bath residences
- Furniture and appliances convey with the sale
- Separate private entrances connected by a shared main entry area
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
$47,106
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
6.37%
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%
$942,120
$942.1K
Cap Rate 7%
$672,943
$672.9K
Cap Rate 9%
$523,400
$523.4K
Market Conditions
NOI Build-Up for 2,679 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
$74.9K $27.96/SF
− Vacancy
−$7.6K −$2.84/SF
EGI
$67.3K $25.12/SF
− OpEx
−$20.2K −$7.54/SF
NOI
$47.1K $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 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%
$942,120
Cap Rate 7%
$672,943
Cap Rate 9%
$523,400
Alternative Uses
Best Use
Multifamily LT 5
$672.9K
$588.8K – $785.1K
NOI $47,106 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$582.0K
$509.2K – $679.0K
NOI $40,737 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$3.21M
$2.81M – $3.75M
NOI $225,021 @ 7.0% cap · market cap 30.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
254
Businesses Nearby
Explore this area
Business Placement
Demographics for 75231, TX
40,754
Population
21,412
Households
1.9
Avg Household Size
32
Median Age
39%
College-Educated
82%
High-School Grad
5.5 sq mi
ZIP Area
7,410
Density / Sq Mi
$54,884
Median Household Income
$40,100
Median Earnings
$1,220
Median Rent
$466,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct residences convey with existing furnishings and appliances.
Where is this duplex located?
The property is located at 7428 Walling Lane Dallas, TX.
What is the asking price?
The asking price for this property is $739,900.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom, 2‑bath and 2‑bedroom, 1‑bath residences; Furniture and appliances convey with the sale; Separate private entrances connected by a shared main entry area
