Four-Home Manufactured Housing
New
For Sale
$349,900
261 331 335 339 Shenandoah, Longview, TX 75605
Residential Income, Longview, TX
Property Size3,068 SF
Price / SF$114.05
Days on Market6
Property Features for 261 331 335 339 Shenandoah
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Patio and Porch features
Deck
Elementary school
Hallsville
Middle school
Hallsville
High school
Hallsville
Directions
Off Loop 281 heading towards Hallsville turn Left (north) on Alpine. Veer right on FM 2208 for 3.75 miles then turn Right on Shenandoah. Property on Left before sharp curve.
Standard status
Active
Size
3,068 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
SUBD: SHENANDOAH, LOT: 25-26,Lot 27 Pt 8
Tax Annual Amount
680
Legal Description
SUBD: SHENANDOAH, LOT: 25-26,Lot 27 Pt 8
Utilities
Sewer type
Aerobic Septic
Heating system
Central
Cooling system
Central Air, Electric
Building Details
Year built
2012
Number of units
4
Flooring type
Vinyl
Building materials
Aluminum Siding
Listing Agency:
Texas Real Estate Executives
(903) 680-4663
Listed By:
Kimberly Buettner · License #0516679
(903) 790-1143
Added: Aug 18
Changed: Aug 20
Last Checked: Aug 23 at 5:06AM
MLS# 26011490
Copyright © 2026 Greater Tyler Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This quadplex comprises four tenant-occupied manufactured homes totaling 3,068 square feet on approximately 2 acres. Three homes date to 2012, while the fourth was built in 1979. Unit 1 has new flooring installed in 2026 and an accessible ramp; Units 1, 2, and 3 received new roofs in 2025. Unit 4 has a recently replaced HVAC system and a long-term tenant. The homes feature aluminum siding, vinyl flooring, central heating, central air, electric cooling, and decks.
The property is located in Longview, Texas, within Hallsville ISD, and is served by an aerobic septic system. A current maintenance contract is in place for the septic system. All four residences are leased, including two long-term tenants, creating an occupied four-home configuration.
The property is located in Longview, Texas, within Hallsville ISD, and is served by an aerobic septic system. A current maintenance contract is in place for the septic system. All four residences are leased, including two long-term tenants, creating an occupied four-home configuration.
Key Highlights
- Four tenant‑occupied manufactured homes totaling 3,068 square feet
- Approximately 2 acres in Hallsville ISD
- New roofs on Units 1, 2, and 3 completed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,930
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$498,600
$498.6K
Cap Rate 7%
$356,143
$356.1K
Cap Rate 9%
$277,000
$277.0K
Market Conditions
NOI Build-Up for 3,068 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.9K $12.36/SF
− Vacancy
−$2.3K −$0.75/SF
EGI
$35.6K $11.61/SF
− OpEx
−$10.7K −$3.48/SF
NOI
$24.9K $8.13/SF
Area
Gregg County, TX
Vacancy
6.08%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$498,600
Cap Rate 7%
$356,143
Cap Rate 9%
$277,000
Alternative Uses
Best Use
Multifamily LT 5
$356.1K
$311.6K – $415.5K
NOI $24,930 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$327.6K
$286.7K – $382.2K
NOI $22,933 @ 7.0% cap · market cap 6.55%
Theoretical Best
Hotel Hospitality
$2.31M
$2.02M – $2.70M
NOI $161,760 @ 7.0% cap · market cap 46.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 75605, TX
32,909
Population
16,425
Households
2
Avg Household Size
41
Median Age
30%
College-Educated
94%
High-School Grad
80.3 sq mi
ZIP Area
410
Density / Sq Mi
$75,665
Median Household Income
$48,040
Median Earnings
$1,186
Median Rent
$238,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied manufactured homes provide an established residential income configuration with recent unit-level improvements.
Where is this quadplex located?
The property is located at 261 331 335 339 Shenandoah Longview, TX.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Four tenant‑occupied manufactured homes totaling 3,068 square feet; Approximately 2 acres in Hallsville ISD; New roofs on Units 1, 2, and 3 completed in 2025
