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$325,000

1505 Elm St Apt 1601, Dallas, TX, 75201

$394,607 ARVInfo
On MarketInfo
Just AddedInfo
Beds2 Beds
Baths3 Bath
Baths1,920 Sq Ft
Condos / TownhousesCondos / Townhouses
price_per_sqft$169.27 / sqft
Year BuiltBuilt in 1957

Property Lead Type:

Must-SellAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Electric Water Heater, Disposal, Range, Refrigerator, Some Commercial Grade, Tankless Water Heater, Vented Exhaust Fan, Wine Cooler
FlooringCarpet, Hardwood, Tile, Travertine, Wood

Exterior

Private PoolPrivate Pool
Exterior FeaturesDeck, Dog Run, Fire Pit, Lighting, Outdoor Grill, Outdoor Kitchen, Outdoor Living Area
Lot Size10,000 sqft

Building Information

Year Built1957
Roof Type172
Garage Spaces2

Land Information

APN00C18160000001601
Lot Number21-22
Subdivision1505 Elm Street Condominiums
Land UseResidential
Legal Description1505 ELM STREET CONDOMINIUMS BLK 75 LTS 21 & 22 UNIT 1601 CE% 1.69 INT201500023268 DD01222015 CO-DC 0075 000 021 1000075 000
Census Tract003103
Assessed Land Value$16,060
Assessed Improvement Value$358,340
Assessment Year2026

About this property

Historic architecture, landmark views, and full-service living come together in this penthouse-level residence at 1505 Elm. Set on the 16th floor of the George Dahl-designed boutique high-rise, this home overlooks iconic Dallas sights, including the Pegasus and The Joule Hotel. Originally built in 1957 for Dallas Federal Savings, the building brings distinctive midcentury character to the heart of downtown. Inside, a spacious, open floor plan creates an inviting setting for everyday living and entertaining. The generous living room features hardwood floors and flows seamlessly into the large kitchen and dining areas. Oversized bedrooms offer spacious ensuite baths and walk-in closets, while a separate study provides a dedicated home office or flexible retreat. Two storage units and two valet parking spaces add practical convenience. Enjoy the personal service of 24-hour valet and concierge, along with resident amenities that include a pool, dog run, theater, and renovated fitness center. Updated common areas by Merriman Anderson Architects complement the building’s architectural heritage. Just one block from the AT&T Discovery District and across Akard Street from The National and Thompson Dallas, this address places downtown’s dining, entertainment, and hotel destinations close to home. Nearby Main Street restaurants, The Joule, and convenient access to the Dallas Arts District offer plenty to explore, while Akard Station makes getting beyond the neighborhood easy. A distinctive opportunity to enjoy penthouse-level living where Dallas history meets the energy of the city today.

Investor Tools

$44,472Estimated Mortgage Balance
$329,928Estimated Equity
88% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$394,607
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,246 /month
Positive
Cash Flow Estimate:
$749 /month

Interested in this property?

Zach Mrusek

Compass RE Texas, LLC.

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$898/month
$2,093/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$8,910
$374,400
2026
$16,060
$358,340
$374,400
No

Tax History

Year
Tax Paid
Assessed Value
2026
$8,910
$374,400

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Scarlet Pegasus Group Lp
Seller Carryback / Seller Financing / Seller Take-Back
$60,000
No
First
Jan 27, 2015
Jan 2020

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$44,472
$329,928
88%
12%
$360/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,710/mo
$2,453/mo
+$257/mo
8.7%

City: Dallas

1505 Elm St Apt 1601 | Property Details | No Agent List