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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1506 School Rd Carrollton, TX 75006-8902

    • Apartment buildings
    • 45,581 SF
    • 2.02 lot acres
    OFF-MARKET
    Value Estimations
    $990,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1941330
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Old Town Place Apartments / Apartment Building / Apartment Complex

    Property Details for 1506 School Rd

    Year built
    1984
    Construction
    FRAME
    Lot size
    2.02 lot acres
    Property size
    45,581 SF
    Zone code
    Z168
    Property type
    Apartment buildings
    APN
    65079951510030200
    APU
    65079951510030200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $990,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Carrollton
    County
    Dallas
    State
    Texas
    Longitude
    -96.8984
    Latitude
    32.9465
    CBSA code
    19100
    CBSA name
    DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $103,824
    $264,500
    $4,720,820
    $4,985,320
    -
    $264,500
    $4,720,820
    $4,985,320

    Comparable in this City

    • Value Estimation
      $810,000
      26,160 SF

      1310 School Rd

      APARTMENT HOUSE (5+ UNITS) • 26,160 SF
      1310 School Rd, Carrollton, TX 75006-8901
      View Details
    • Value Estimation
      $800,000
      171,740 SF

      2750 Trinity Mls Rd

      APARTMENT HOUSE (5+ UNITS) • 171,740 SF
      2750 Trinity Mls Rd, Carrollton, TX 75006-2193
      View Details
    • Value Estimation
      $875,000
      251,072 SF

      2300 Marsh Ln

      APARTMENT HOUSE (5+ UNITS) • 251,072 SF
      2300 Marsh Ln, Carrollton, TX 75006-4851
      View Details
    • Value Estimation
      $720,000
      56,200 SF

      3560 Country Sq Dr

      APARTMENT HOUSE (5+ UNITS) • 56,200 SF
      3560 Country Sq Dr, Carrollton, TX 75006-6797
      View Details
    • Value Estimation
      $1,100,000
      140,920 SF

      1910 Josey Ln

      APARTMENT HOUSE (5+ UNITS) • 140,920 SF
      1910 Josey Ln, Carrollton, TX 75006-7503
      View Details
    • Value Estimation
      $595,000
      20,084 SF

      1610 Belt Line Rd

      APARTMENT HOUSE (5+ UNITS) • 20,084 SF
      1610 Belt Line Rd, Carrollton, TX 75006-6360
      View Details

    Similar Nearby for Sale

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      Updated Condo Near Addison Town

      Updated 2-bedroom, 2-bath condo near Addison Town Center.
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    • $530,000
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      Carrollton Duplex: Dual Income Potential

      Duplex in Carrollton, TX with two units and desirable amenities.
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    • $258,500
      1,120 SF

      Charming Home with Modern Upgrades

      Well-maintained home featuring modern upgrades and a spacious backyard.
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    • Contact for pricing

      Land Available in Carrollton, Texas

      Land for sale at 1214 Crowley Circle, Carrollton, TX 75006
      1214 Crowley Cir, Carrollton, TX 75006
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      Land Fronting I-35E Available

      Pads and hotel tract available with great visibility.
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    • $1,500,000
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      9,288 SF Daycare, High Potential
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    Similar Nearby for Lease

    • $2,600 /Mo
      1,996 SF

      Spacious Townhome in Prime Location

      Three-story townhome with 3 bedrooms and 3.5 baths for rent.
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    • Contact for pricing
      39,660 SF

      Trinity Mills Crossing

      Retail properties • 39,660 SF
      2408 Trinity Mls Rd, Carrollton, TX 75006
      View Details
    • Contact for pricing
      77,337 SF

      Avion Business Center: Carrollton Office/Warehouse

      Prime Carrollton Office & Warehouse Space Available
      2155 Chenault Dr, Carrollton, TX 75006
      View Details
    • $14 SF/Yr
      16,200 SF

      Dallas Warehouse - Tarpley Rd.

      New Construction Freestanding Warehouse Space
      2401 Tarpley Rd, Carrollton, TX 75006
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    • $14 SF/Yr
      16,200 SF

      Modern Dallas Warehouse Space

      New 16,200 SF warehouse; immediate occupancy.
      2401 Tarpley Rd, Carrollton, TX 75006
      View Details
    • Contact for pricing
      1,350 SF

      Retail Space in Carrollton, TX

      Visible retail space in a high-traffic Carrollton neighborhood.
      1000-1012 Webb Chapel Rd, Carrollton, TX 75006
      View Details
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    1506 School Rd
    Carrollton, TX 75006-8902
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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