506 N Lancaster Ave Unit 4, Dallas, TX
6 bd · 4 ba · 6,943 sqft Multi-Family listed at $880,000, built in 1945 in the North Oak Cliff neighborhood.
About this home
Located in the heart of North Oak Cliff, this updated 2023 4-plex offers a rare opportunity just minutes from Bishop Arts District and Downtown Dallas. The property updated in 2023 features (2) 2-bedroom 1-bath units and (2) 1-bedroom 1-bath units, providing flexible living and rental options in a highly desirable Dallas location. Residents enjoy close proximity to some of the citys best dining, entertainment, and cultural attractions, along with easy access to major employment centers in Downtown Dallas. Nearby parks and green spaces, including Lake Cliff Park, offer additional recreation and outdoor appeal.The area continues to experience strong growth and redevelopment, making this an excellent opportunity for both owner-occupants and investors seeking long-term value in a rapidly appreciating corridor of Oak Cliff. Short term rental and Airbnb eligible with projected $12.8k a month income and 12% cap rate at asking. Survey available on transaction desk.
Property details
- Price
- $880,000
- Bedrooms
- 6
- Bathrooms
- 4
- Interior
- 6,943 sqft
- Price / sqft
- $127
- Year built
- 1945
- Lot size
- 6,943 sqft
- Type
- Multi-Family
- Est. property tax
- $14,784/yr · $1,232/mo · 1.68% TX avg
Estimated monthly payment
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Price history
- Apr 27, 2026$880,000Initial list price
- Sep 2, 2024$1,650Price change
- Aug 30, 2024$1,350Price change
- Aug 14, 2024$1,650Price change
- Jul 26, 2024$1,800Price change
- Jul 26, 2024$1,500Price change
- Jul 17, 2024$2,000Price change
- Jul 17, 2024$1,600Price change
- Sep 28, 2022$525,500Price change
- Aug 16, 2022$548,500Price change
- Jul 14, 2022$565,000Initial list price
- Jun 1, 2022$585,000Price change
- Mar 17, 2022$585,000Initial list price
Location
This home is located in Dallas, TX, in the Dallas-Fort Worth area. Browse more Dallas listings on the Dallas market page or explore the full Dallas market report.
About Dallas: Dallas is a city in the U.S. state of Texas. Located in the state's northern region, it is the ninth-most populous city in the United States and third-most populous city in Texas, with a population of 1.3 million at the 2020 census. Along with the city of Fort Worth, Dallas anchors the Dallas–Fort Worth metroplex, the fourth-most populous metropolitan area in the U.S. and the most populous metropolitan area in Texas, at 8.5 million people. Dallas is a core city of the largest metropolitan area in the Southern U.S. and the largest inland metropolitan area in the U.S. that lacks any navigable link to the sea. It is the seat of Dallas County, covering nearly 386 square miles (1,000 km2) and extending into Collin, Denton, Kaufman, and Rockwall counties. (source: Wikipedia)
Climate: Average year-round temperature is 69°F with 235 dry days per year and 52.7 inches of annual rainfall.
Home Intelligence
Neighborhood (zip 75203)
This neighborhood is primarily renter-occupied (36% owner-occupied). Median age is 33.3; 10% hold a bachelor's degree; median household income is $43,376.
- Median income
- $43,376
- Median age
- 33.3
- Owner-occupied
- 35.8%
- Bachelor's degree
- 9.8%
- Census median home value
- $116,500
Source: US Census Bureau American Community Survey 5-year estimates.
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