Fully Leased Duplex
For Sale
$549,000
9522 Ash Creek Dr, Dallas, TX 75228
Turnkey duplex with both sides currently leased, offering private outdoor space for each unit.
Property Size2,604 SF
Price / SF$210.83
Days on Market55
Property Features for 9522 Ash Creek Dr
General Information
Standard status
Active
Size
2,604 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1954
Listing Agency:
Dave Perry Miller Real Estate
Listed By:
Rhoni Golden · License #0730261
(214) 522-3838
Source:
Thebryandavisgroup
Added: Jul 20
Changed: Sep 8
Last Checked: Sep 11 at 12:02PM
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 Dave Perry Miller Real Estate
Investment Insights
Based on property information with market context.
This full duplex is presented as a plug-and-play rental, with both sides currently leased. Each unit includes a functional, livable layout with comfortable living areas, practical kitchens, well-sized bedrooms, and private outdoor space.
The property is located at 9522 Ash Creek Drive in the 75228 area of East Dallas, with quick access to major thoroughfares. The surrounding area provides access to White Rock Lake as well as shopping and dining.
With income already in place and no tenant placement required, the duplex offers a straightforward option for an investor seeking steady rental operations.
The property is located at 9522 Ash Creek Drive in the 75228 area of East Dallas, with quick access to major thoroughfares. The surrounding area provides access to White Rock Lake as well as shopping and dining.
With income already in place and no tenant placement required, the duplex offers a straightforward option for an investor seeking steady rental operations.
Key Highlights
- 1954‑built full duplex in East Dallas (75228) with both sides currently leased.
- Immediate rental income with both units occupied and leased.
- Each unit features a practical, livable layout with comfortable living areas and well‑sized bedrooms.
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
$45,787
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
8.34%
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%
$915,740
$915.7K
Cap Rate 7%
$654,100
$654.1K
Cap Rate 9%
$508,744
$508.7K
Market Conditions
NOI Build-Up for 2,604 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
$72.8K $27.96/SF
− Vacancy
−$7.4K −$2.84/SF
EGI
$65.4K $25.12/SF
− OpEx
−$19.6K −$7.54/SF
NOI
$45.8K $17.58/SF
Area
ZIP 75228
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%
$915,740
Cap Rate 7%
$654,100
Cap Rate 9%
$508,744
Alternative Uses
Best Use
Multifamily LT 5
$654.1K
$572.3K – $763.1K
NOI $45,787 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$565.7K
$495.0K – $659.9K
NOI $39,596 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$2.85M
$2.49M – $3.33M
NOI $199,516 @ 7.0% cap · market cap 36.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
Explore this area
Business Placement
Demographics for 75228, TX
68,219
Population
27,329
Households
2.5
Avg Household Size
34
Median Age
21%
College-Educated
73%
High-School Grad
11.4 sq mi
ZIP Area
5,984
Density / Sq Mi
$59,617
Median Household Income
$36,862
Median Earnings
$1,196
Median Rent
$259,500
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
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Frequently Asked Questions
What type of property is this?
Duplex - Turnkey duplex with both sides currently leased, offering private outdoor space for each unit.
Where is this duplex located?
The property is located at 9522 Ash Creek Dr Dallas, TX.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 1954‑built full duplex in East Dallas (75228) with both sides currently leased.; Immediate rental income with both units occupied and leased.; Each unit features a practical, livable layout with comfortable living areas and well‑sized bedrooms.
