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    Property profile & analytics

    5921 Gaston Ave Dallas, TX 75214-6614

    • Apartment buildings
    • 9,280 SF
    • 0.34 lot acres
    OFF-MARKET
    Value Estimations
    $555,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3423507
    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

    • Apartment buildings

    Property Details for 5921 Gaston Ave

    Year built
    1957
    Construction
    FRAME
    Lot size
    0.34 lot acres
    Property size
    9,280 SF
    Zone code
    Z239
    Property type
    Apartment buildings
    APN
    183022000000
    APU
    183022000000

    Description

    This exceptional 12-unit apartment building, located at 5921 Gaston Ave in Dallas, Texas, presents a compelling value-add investment opportunity. Built in 1957 and extensively renovated in 2023, the property boasts 8,880 square feet on a 14,628 square foot lot, zoned MF2. The two-story building currently enjoys 100% occupancy, generating a pro-forma NOI of $119,358 and a 5.00% pro-forma cap rate at an asking price of $2,390,000 ($269.14/sq ft). Eight of the twelve spacious units have already undergone a complete renovation, featuring modern upgrades such as quartz countertops, stainless steel appliances, updated bathrooms, fresh paint, and updated lighting. The remaining four units offer a significant value-add opportunity to increase profitability by bringing them in line with the market value of the renovated units. The property includes convenient amenities such as central heat and air and covered parking. All utilities are master metered. Its prime location offers easy access to Downtown Dallas, Lakewood Country Club, Lakewood Plaza, and Lower Greenville, ensuring strong rental demand. This property is an excellent investment for those seeking immediate income and significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $535,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $578,000
      Market price range: $370k - $880k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $625,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $700,000
      Change: +12% Conversion: Difficult
      MEDICAL BUILDING
      $630,000
      Change: +1% Conversion: Moderate
      OFFICE BUILDING
      $615,000
      Change: -1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7579
    Latitude
    32.8103
    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
    $27,537
    $234,050
    $965,950
    $1,200,000
    -
    $234,050
    $965,950
    $1,200,000

    Comparable in this City

    • Value Estimation
      $965,000
      16,800 SF

      5121 Gaston Ave

      APARTMENT HOUSE (5+ UNITS) • 16,800 SF
      5121 Gaston Ave, Dallas, TX 75214-5280
      View Details
    • Value Estimation
      $1,170,000
      20,598 SF

      100 Henderson Ave

      APARTMENT HOUSE (5+ UNITS) • 20,598 SF
      100 Henderson Ave, Dallas, TX 75214-5088
      View Details
    • Value Estimation
      $1,055,000
      23,334 SF

      6263 La Vis Dr

      APARTMENT HOUSE (5+ UNITS) • 23,334 SF
      6263 La Vis Dr, Dallas, TX 75214-4343
      View Details
    • Value Estimation
      $11,630,000
      103,721 SF

      2165 Tucker St

      APARTMENT HOUSE (5+ UNITS) • 103,721 SF
      2165 Tucker St, Dallas, TX 75214-0197
      View Details
    • Value Estimation
      $865,000
      15,300 SF

      4910 Side Ave

      APARTMENT HOUSE (5+ UNITS) • 15,300 SF
      4910 Side Ave, Dallas, TX 75214-5582
      View Details
    • Value Estimation
      $1,460,000
      23,000 SF

      5601 Gaston Ave

      APARTMENT HOUSE (5+ UNITS) • 23,000 SF
      5601 Gaston Ave, Dallas, TX 75214-4679
      View Details

    Similar Nearby for Sale

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      Dallas Multifamily High-Rise Investment

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      Historical Munger Place Apartment Building

      Charming, fully leased apartments in desirable Munger Place Historic District.
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      0.17 Acres

      Remodeled Fourplex in Dallas, TX

      Completely remodeled fourplex in Dallas, TX, with updated major systems.
      4947 E Side Ave, Dallas, TX 75214
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    • $725,000
      0.19 Acres

      Updated Duplex in Lakewood

      Fully updated duplex near shopping, dining, and White Rock Lake.
      6569 Ascot Ln, Dallas, TX 75214
      View Details

    Similar Nearby for Lease

    • $3,200 /Mo

      East Dallas Condo with Garage

      Modern 2-bed, 2.5-bath condo in gated community, convenient location.
      312 N Henderson Ave, Dallas, TX 75214
      View Details
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      10,160 SF

      Lakewood Retail & Restaurant Space

      Prime Lakewood location, 4 suites available
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      View Details
    • $2,195 /Mo
      1,381 SF

      Spacious Duplex Near White Rock

      Two-bedroom duplex near White Rock Lake with modern amenities.
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      View Details
    • Contact for pricing

      Lakewood Corner Retail Opportunity

      Ground lease or multi-tenant retail opportunity in desirable Lakewood.
      7340 Gaston Ave, Dallas, TX 75214
      View Details
    • $20 SF/Yr
      2,848 SF

      East Dallas Retail Space Available

      Retail space in affluent East Dallas neighborhoods for lease.
      7330 Gaston Ave, Dallas, TX 75214
      View Details
    • Contact for pricing
      2,465 SF

      Retail Space in Dallas Center

      Tom Thumb-anchored retail center with high visibility and strong demographics.
      7331 Gaston Ave, Dallas, TX 75214
      View Details
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    Dallas, TX 75214-6614
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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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