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    303/309 Princess Place Tyler, TX 75704

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    Claim this Listing
    New
    For Sale
    $450,000

    Duplex - Tyler, TX

    Type:Duplex
    Property size:
    2,680 SF
    Price / SF:
    $167/SF
    Added:
    Apr 21, 2026
    Days on Market:
    4
    Last Refresh:
    Apr 24 at 3:06 pm

    Property Features for 303/309 Princess Place

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Zoning
    Residential Townhouse
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Dining Room, Living Room
    Parking features
    Garage
    Standard status
    Active
    Size
    2,680 SF

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    5797.23

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    2016
    Number of units
    2
    Flooring type
    Carpet, Tile, Tile - Ceramic
    Building materials
    Brick, Stone
    Architectural style
    Other

    We can help!

    Listing Contact
    Hannah Tavenner

    Listing agent Hannah Tavenner License #0657136

    Listing office Nanci Wright Property Management 3100 New Copeland Road, Tyler, TX

    Listing date Apr 21, 2026

    MLS# 26005616 Listing URL

    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.

    Overview

    Well-Maintained Duplex in Growing Tyler

    This well-maintained duplex in Tyler presents an opportunity for FHA buyers or investors looking to expand their portfolio. The property features attractive brick and stone exterior finishes, individual garage spaces, and private driveways. The duplex is situated in a convenient area of Tyler with quick access to Tyler Pounds Regional Airport, Loop 323, Highway 31, UT Tyler, Tyler Junior College, Christus & UT Health medical facilities, shopping, dining, and retail centers, and growing residential developments. The property is located in a growing area of town and offers functionality and curb appeal. The property is suitable for FHA owner-occupants looking to live in one side and rent the other, or investors seeking an entry-level investment property with strong rental demand and a low-maintenance exterior. The property size is 2680 square feet. The zoning is Residential Townhouse.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Auto Repair Shop Auto Parts Store Cafe & Coffee Shop Storage Facility Bakery Veterinary Clinic Car Rental Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.395761
    Latitude
    32.364099

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    FAQs

    What type of property is this?
    Duplex - Duplex in Tyler, ideal for FHA buyers or investors.
    Where is this duplex located?
    The property is located at 303/309 Princess Place Tyler, TX.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Ideal for FHA owner‑occupants: Live in one unit and rent the other to offset mortgage costs.; Strong rental demand in a growing area of Tyler, making it a smart long‑term investment.; Low‑maintenance brick and stone exterior, private driveways, and individual garages offer functionality and curb appeal.
    (903) 360-5813
    We can help!
    Listing Contact
    Hannah Tavenner
    Real Estate License ID: 0657136
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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