3-Unit Brick
New
For Sale
$299,000
3729 Steeplechase, Texarkana, TX 75503
Residential Income, Texarkana, TX
Property Size3,500 SF
Lot Size0.30 Acres
Price / SF$85.43
Days on Market2
Property Features for 3729 Steeplechase
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
9
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 6, Bedroom 7, Bathroom 1, Bedroom 5, Bedroom 8, Bedroom 9, Bedroom 1
Interior features
Ceiling Fan(s)
Appliances
Electric Oven
Subdivision
Cooper Lane Estates
Directions
Turn left onto Gibson Lane.Turn left onto Cooper Lane.
Standard status
Active
Size
3,500 SF
Lot size
0.30 Acres
Building Details
Year built
2003
Floors in Building
1
Number of units
3
Flooring type
Vinyl, Carpet
Building materials
Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
eXp Realty, LLC- TX
(888) 519-7431
Listed By:
Megan Driver
(903) 765-7993
Added: Oct 1
Last Checked: Oct 2 at 9:06PM
MLS# 206171
Copyright © 2026 Texarkana Board 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 2003 brick triplex contains three separate residences, each with three bedrooms. The property offers approximately 3,500 square feet of heated area, with an individual entrance and dedicated parking for each unit. Vinyl and carpet flooring, ceiling fans, and electric ovens are among the reported interior features.
The parcel covers 0.299 acres in Texarkana, Texas. A shingle roof completes the building’s reported exterior features.
The parcel covers 0.299 acres in Texarkana, Texas. A shingle roof completes the building’s reported exterior features.
Key Highlights
- Three separate 3‑bedroom residences
- Approximately 3,500 heated square feet
- Separate entrance and dedicated parking for each residence
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
$25,319
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
8.47%
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%
$506,380
$506.4K
Cap Rate 7%
$361,700
$361.7K
Cap Rate 9%
$281,322
$281.3K
Market Conditions
NOI Build-Up for 3,500 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
$39.1K $11.16/SF
− Vacancy
−$2.9K −$0.83/SF
EGI
$36.2K $10.33/SF
− OpEx
−$10.9K −$3.10/SF
NOI
$25.3K $7.23/SF
Area
Bowie County, TX
Vacancy
7.40%
Lease Rate
$11.16 /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%
$506,380
Cap Rate 7%
$361,700
Cap Rate 9%
$281,322
Alternative Uses
Best Use
Multifamily LT 5
$361.7K
$316.5K – $422.0K
NOI $25,319 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$299.1K
$261.7K – $349.0K
NOI $20,938 @ 7.0% cap · market cap 7.00%
Theoretical Best
Hotel Hospitality
$2.64M
$2.31M – $3.08M
NOI $184,538 @ 7.0% cap · market cap 61.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
29
Businesses Nearby
Explore this area
Business Placement
Demographics for 75503, TX
25,547
Population
11,464
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
95%
High-School Grad
78.5 sq mi
ZIP Area
325
Density / Sq Mi
$67,733
Median Household Income
$43,508
Median Earnings
$1,185
Median Rent
$214,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Individual residences have separate entrances and designated parking.
Where is this triplex located?
The property is located at 3729 Steeplechase Texarkana, TX.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Three separate 3‑bedroom residences; Approximately 3,500 heated square feet; Separate entrance and dedicated parking for each residence
