Duplex With Approved Expansion
For Sale
$249,900
Pending
806 Southeast 10th Street, Grand Prairie, TX 75051
City approval and completed design documents support a larger three-bedroom, two-bath layout for each unit.
Property Size1,104 SF
Days on Market174
Property Features for 806 Southeast 10th Street
General Information
Standard status
Pending
Size
1,104 SF
Property subtype
Residential / Single Family Residence
Additional Details
Multifamily Units
2
Amenities
Ceiling Fan(s), Central Air
Central, Electric
No
Dishwasher, Disposal, Electric Range, Electric Water Heater
1104.0
Chandelier, Decorative Lighting, Granite Counters, High Speed Internet Available, Kitchen Island, Open Floorplan
1
One
Building Details
Year Built
1945
Listing Agency:
Rendon Realty, LLC
Listed By:
Suha Al-Nazer · License #0676843
(214) 606-8256
Source:
Compass
Added: Mar 13
Changed: Sep 2
Last Checked: Aug 31 at 10:02PM
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 Rendon Realty, LLC
Investment Insights
Based on property information with market context.
This duplex contains 1,104 square feet and was built in 1945. The property includes two residential units, with city approval in place for an expansion that would reconfigure each side into a three-bedroom, two-bath layout. Architectural plans and engineer-stamped drawings are included for the proposed work.
Located at 806 Southeast 10th Street in Grand Prairie, the property also has high-speed internet availability. The existing structure provides a two-unit residential income configuration with a documented path for expanding the layouts, subject to the approved plans and applicable construction requirements.
Located at 806 Southeast 10th Street in Grand Prairie, the property also has high-speed internet availability. The existing structure provides a two-unit residential income configuration with a documented path for expanding the layouts, subject to the approved plans and applicable construction requirements.
Key Highlights
- 1,104‑square‑foot duplex with two residential units
- City‑approved expansion to three bedrooms and two baths per unit
- Architectural plans and engineer‑stamped drawings included
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
$10,954
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
4.38%
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%
$219,080
$219.1K
Cap Rate 7%
$156,486
$156.5K
Cap Rate 9%
$121,711
$121.7K
Market Conditions
NOI Build-Up for 1,104 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
$16.6K $15.00/SF
− Vacancy
−$911 −$0.83/SF
EGI
$15.6K $14.17/SF
− OpEx
−$4.7K −$4.25/SF
NOI
$11.0K $9.92/SF
Area
Grand Prairie, TX
Vacancy
5.50%
Lease Rate
$15.00 /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%
$219,080
Cap Rate 7%
$156,486
Cap Rate 9%
$121,711
Alternative Uses
Best Use
Multifamily LT 5
$156.5K
$136.9K – $182.6K
NOI $10,954 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$145.7K
$127.5K – $170.0K
NOI $10,197 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$310.4K
$271.6K – $362.1K
NOI $21,727 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Explore this area
Business Placement
Demographics for 75051, TX
40,243
Population
14,139
Households
2.8
Avg Household Size
32
Median Age
15%
College-Educated
68%
High-School Grad
12.6 sq mi
ZIP Area
3,194
Density / Sq Mi
$53,124
Median Household Income
$34,029
Median Earnings
$1,183
Median Rent
$196,700
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 - City approval and completed design documents support a larger three-bedroom, two-bath layout for each unit.
Where is this duplex located?
The property is located at 806 Southeast 10th Street Grand Prairie, TX.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,104‑square‑foot duplex with two residential units; City‑approved expansion to three bedrooms and two baths per unit; Architectural plans and engineer‑stamped drawings included
