Three-Unit Triplex with
For Sale
$350,000
3181 FM 16 E, Tyler, TX 75706
MULTI-FAMILY, Tyler, TX
Property Size3,800 SF
Lot Size5.70 Acres
Price / SF$92.11
Days on Market651
Property Features for 3181 FM 16 E
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Living Room, Laundry Room
Parking features
Open
Patio and Porch features
Patio
Exterior features
Covered Patio, Workshop
Directions
From Longview go West on Hwy 80. Turn left onto FM 14 S. Go 6 miles & take a left onto FM 16 E. Go 0.6miles. Property is on the left.
Subdivision
WINONA ISD
Standard status
Active
Lot size
5.70 Acres
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Amenities
washer & dryer connections
covered front & back porch
pond
wooded acreage
Building Details
Year built
2003
Number of units
3
Additional Structures
Workshop
Listing Agency:
Texas Real Estate Executives
(903) 680-4663
Listed By:
Dena Ochoa · License #0571145
(903) 746-7210
Added: Nov 12, 2024
Changed: Aug 19
Last Checked: Aug 25 at 5:06PM
MLS# 20247017
Copyright © 2026 Longview Area 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.
Located in Winona ISD at 3181 FM 16 E, this property features a 3,000 sf triplex and an 800 sf shop on the same site. The triplex is described as a metal building with three separate units, each with 1,000 sf of living space, and configured as 3 bedrooms and 2 bathrooms per unit.
The home includes washer and dryer connections and has covered front and back porches. The main house’s back porch overlooks a pond and wooded acreage, creating a private, outdoor setting.
Additional on-site improvements include the standalone 800 sf shop, providing extra space that can support a variety of property and operational needs.
The home includes washer and dryer connections and has covered front and back porches. The main house’s back porch overlooks a pond and wooded acreage, creating a private, outdoor setting.
Additional on-site improvements include the standalone 800 sf shop, providing extra space that can support a variety of property and operational needs.
Key Highlights
- 5.7‑acre property in Winona ISD with a 3,000 SF triplex plus an 800 SF shop
- Triplex includes 3 separate 1,000 SF units, each with 3 BR and 2 Bath (metal building)
- Covered front and back porch, plus patio
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
$32,165
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
9.19%
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%
$643,300
$643.3K
Cap Rate 7%
$459,500
$459.5K
Cap Rate 9%
$357,389
$357.4K
Market Conditions
NOI Build-Up for 3,800 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
$61.6K $16.20/SF
− Vacancy
−$3.1K −$0.81/SF
EGI
$58.5K $15.39/SF
− OpEx
−$26.3K −$6.93/SF
NOI
$32.2K $8.46/SF
Area
Tyler, TX
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$643,300
Cap Rate 7%
$459,500
Cap Rate 9%
$357,389
Alternative Uses
Best Use
Multifamily LT 5
$490.3K
$429.0K – $572.0K
NOI $34,322 @ 7.0% cap · market cap 9.81%
Second Best
Apartment 5plus
$459.5K
$402.1K – $536.1K
NOI $32,165 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$848.1K
$742.1K – $989.5K
NOI $59,370 @ 7.0% cap · market cap 16.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 75706, TX
10,313
Population
4,332
Households
2.4
Avg Household Size
34
Median Age
10%
College-Educated
81%
High-School Grad
75.6 sq mi
ZIP Area
136
Density / Sq Mi
$57,845
Median Household Income
$32,886
Median Earnings
$941
Median Rent
$125,400
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?
Triplex - A three-unit triplex with washer and dryer connections, plus an 800 sf shop and covered porches.
Where is this triplex located?
The property is located at 3181 FM 16 E Tyler, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 5.7‑acre property in Winona ISD with a 3,000 SF triplex plus an 800 SF shop; Triplex includes 3 separate 1,000 SF units, each with 3 BR and 2 Bath (metal building); Covered front and back porch, plus patio
