Apartment construction and sales is the Multifamily Market of Properties in the DFW Metroplex. This market really exploded in 2024. In 12 months the Metroplex absorbed, read 'leased', 29,147 units. 2025 will be some slower but not by a lot. In absorbing this many units the Metroplex vacancy rate increased to 11.5% and the Market Cap for Multifamily Properties went down to 5.8. Both statistics are now moving to correct themselves. One more thing, the expectation this year is that the second half of the year will be influence by an expected drop in interest rates. Rates are currently high but are predicted to fall significantly and the falling interest will add impetus to an already hot market. If you are thinking of getting into the Multifamily Market, buying 312 Hickerson is a good safe first step. 312 Hickerson contains 8 separate apartment units, 6 are 2 bedroom and 2 bath units that rent for $1,500 per month. Two are 1 bedroom and 1 bath units that rent for $1,100 per month. Five of the 8 units have been upgraded in the last two years, these are 4 two bedroom unit and 1 one bedroom unit. In the current configuration, the annual rent is $126,000. Expensed are the property taxes, currently $25,800 annually, insurance, $8569, maintenance $7,500, and vacancy, historically 4%, $5,040. Total annual expense are $39,196. This leaves a total profit before taxes of $86,804 which shows a market CAP of 5.6.

Listing courtesy of Vernon Mimms of RE/MAX Preferred Associates vernonmimms@remax.net



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Last checked: 2025-08-04 07:48 AM CDT