Renovated Fourplex with
New
For Sale
$740,000
930 S Vernon Avenue, Dallas, TX 75208
Renovated residential income property with two buildings, outdoor space, and an additional storage or workshop structure.
Property Size2,649 SF
Price / SF$279.35
Days on Market3
Property Features for 930 S Vernon Avenue
General Information
Standard status
Active
Size
2,649 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Amenities
storage building
Building Details
Year Built
1980
Buildings
2
Listing Agency:
Century 21 Mike Bowman, Inc.
(817) 354-7653
Listed By:
Sara Isaac · License #0660909
(512) 686-5486
Source:
Lonestarluxuryrealty
Added: Sep 6
Changed: Sep 7
Last Checked: Sep 8 at 5:42AM
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 Century 21 Mike Bowman, Inc.
Investment Insights
Based on property information with market context.
This fourplex was built in 1980 and recently received an extensive renovation. The property is arranged across two separate buildings, with two units in each, creating a four-unit residential income asset. Exterior space adds flexibility, while a separate storage building can serve as a workshop or storage area.
Located at 930 S Vernon Avenue in Dallas, the property is near the Bishop Arts District and the established neighborhoods of Winnetka Heights and Kessler. Bishop Arts offers boutique retail, restaurants, coffee shops, and galleries, while Downtown Dallas is only a couple of miles away. The setting combines access to the city center with proximity to established residential and cultural destinations.
Located at 930 S Vernon Avenue in Dallas, the property is near the Bishop Arts District and the established neighborhoods of Winnetka Heights and Kessler. Bishop Arts offers boutique retail, restaurants, coffee shops, and galleries, while Downtown Dallas is only a couple of miles away. The setting combines access to the city center with proximity to established residential and cultural destinations.
Key Highlights
- Four‑unit property arranged as two separate buildings with two units each
- Extensively renovated from top to bottom
- Separate storage building suitable for storage or workshop use
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
$46,579
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
6.29%
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%
$931,580
$931.6K
Cap Rate 7%
$665,414
$665.4K
Cap Rate 9%
$517,544
$517.5K
Market Conditions
NOI Build-Up for 2,649 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
$74.1K $27.96/SF
− Vacancy
−$7.5K −$2.84/SF
EGI
$66.5K $25.12/SF
− OpEx
−$20.0K −$7.54/SF
NOI
$46.6K $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%
$931,580
Cap Rate 7%
$665,414
Cap Rate 9%
$517,544
Alternative Uses
Best Use
Multifamily LT 5
$665.4K
$582.2K – $776.3K
NOI $46,579 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$575.4K
$503.5K – $671.4K
NOI $40,281 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$3.18M
$2.78M – $3.71M
NOI $222,501 @ 7.0% cap · market cap 30.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,308
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?
Quadplex - Renovated residential income property with two buildings, outdoor space, and an additional storage or workshop structure.
Where is this quadplex located?
The property is located at 930 S Vernon Avenue Dallas, TX.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: Four‑unit property arranged as two separate buildings with two units each; Extensively renovated from top to bottom; Separate storage building suitable for storage or workshop use
