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Backup Offers

5503 Martel Ave, Dallas, TX, 75206

$995,000

Home List Price

$10,000*

Closing Credit

5 Bedrooms
3 Full Baths
Multi

Location

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5503 Martel Ave, Dallas$995,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeTriplex
ParkingAdditional Parking, Alley Access, Detached Carport, Driveway, Garage
Garage2 spaces
Year Built1948
HeatingCentral
CoolingCentral Air
FireplaceWood Burning
MLS #20674497
Lot Size0.21 Acres
StatusAccepting Backup Offers
(Active Under Contract)

About 5503 Martel Ave

Back on market due to buyers financing falling through. Fully leased all 3 units! $6575 monthly gross rent. 1940s Austin Stone TRIPLEX, situated on a .21 acre corner lot, is an exceptional find. Located within walking distance to SMU, Mockingbird Station, and Glencoe Park, this property is 100% occupied and has undergone extensive updates throughout. Features include hardwood floors, granite countertops, fresh bright interior paint. All HVAC systems updated within the last 8 years, with one being brand new. Roof replaced in 2021. A 2-car garage, an additional 2-car carport, a full sprinkler system, and a fenced backyard for each unit with outdoor access. There is shared storage and a laundry room for two units, while one unit has its own washer and dryer. Don't miss this outstanding investment opportunity! All 3 units are long term tenants with renewed leases ending May 30, 2025.

Property Details

Property Features

Property Information:

  • Year Built: 1948

Listing Office:

  • Office Name: BK Real Estate LLC
  • Office Phone: (972) 677-9172
  • Listing Agent: Peter Mester

Interior Features

Interior Information:

  • Appliances: Dishwasher, Electric Cooktop, Electric Oven, Electric Water Heater, Disposal
  • Flooring Type: Tile, Wood
  • Interior: Built-in Features
  • Fireplace: Wood Burning

Bedroom and Bathroom Information:

  • Full Bathrooms: 3
  • Total Bedroom Count: 5

Exterior Features

Parking Information:

  • Garage Space: 2 spaces
  • Attached Garage: No
  • Parking: Additional Parking, Alley Access, Detached Carport, Driveway, Garage

Virtual/3D Tour

  • Virtual Tour: 5503 Martel Ave
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Lot Features

Lot Information:

  • Lot Size: 0.21 Acres

Utilities

Utilities Information:

  • Heating: Central
  • Cooling: Central Air

Other

Directions Information:

  • Directions: USE GPS.

Price Information

Listing Price Info

Price Summary:

  • List Price: $995,000

Tax Information:

  • Annual Amount: $14,818
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Dallas, TX.

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Dallas, TX

City

Med. Sold Price

$260K

Med. Price/SqFt

$175

Avg. Days On Market

65

# of Sold Homes

869

5503 Martel Ave vs Dallas

130 DAYS ON ROCKET

+65 Days

$995,000

+$735K More

KEY TAKEAWAY

This property is $735K more than the Median Sold Price in Dallas, TX.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: NTR
  • MLS Number: #20674497

Listing Office:

  • Office Name: BK Real Estate LLC
  • Office Phone: (972) 677-9172
  • Listing Agent: Peter Mester

IDX ©2024 North Texas Real Estate Information Systems. All rights reserved. The database information herein is provided from and copyrighted by the North Texas Real Estate Information Systems, Inc. NTREIS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. The advertisements herein are merely indications to bid and are not offers to sell which may be accepted. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.


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Last updated on: 11/24/2024, 4:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$14,818$570,000
2019$16,402$600,000
2018$14,479$508,900
2017$13,838$508,900

History based on county public records data.

Payment Calculator

$5,034

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$3,050

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-1075374
7
/10

  • Mockingbird Elementary School

  • 5828 E Mockingbird Ln

  • 0.53 miles

  • Public District Grades KG-5

school-card-donut-1075375
4
/10

  • Geneva Heights Elementary School

  • 2911 Delmar Ave

  • 0.71 miles

  • Public District Grades EE-5

school-card-donut-1075376
7
/10

  • John S. Armstrong Elementary School

  • 3600 Cornell Ave

  • 1.00 miles

  • Public District Grades KG-4

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $102,371. The majority of Dallas, TX residents have income between $35k-100k annually. The most common type of family is single, no kids. Typical level of education for residents in this area is post secondary degree.

All data provided by Home Junction and Claritas

Rocket Homes›Texas›Dallas County›Dallas›75206›5503 Martel Ave

This home is located at 5503 Martel Ave in Dallas, TX and zip code 75206 in the Old East Dallas neighborhood. This home, which was built in 1948, sits on a 0.21 acre lot. Features: 5 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since July 16, 2024 and is currently priced at $995,000.

While more than 0 listings in Dallas, TX in October 2024 were sold above asking price, there were more than 0 listings sold at asking price, and more than 2 were sold below. The number of listings in Dallas, TX increased by 13.5% between September 2024 and October 2024. Listings spent 65 days on the market in October 2024, and had a median list price of $260,000 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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