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    523 Melba Avenue Gladewater, TX 75647

    View on Map
    For Sale
    $137,995

    Duplex - Gladewater, TX

    Type:Duplex
    Added:
    Sep 22, 2025
    Days on Market:
    194
    Last Refresh:
    Apr 3 at 2:06 am

    Property Features for 523 Melba Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Rooms
    Den, Kitchen
    Parking features
    Garage
    Patio and Porch features
    Patio
    Exterior features
    Covered Patio, Fence
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Range
    Standard status
    Active

    Taxes and HOA fees

    TaxAnnualAmount
    2633

    Utilities

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

    Building Details

    Year built
    1950
    Floors in Building
    1
    Number of units
    2
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Mark Armstrong
    Mark Armstrong

    Listing agent Mark Armstrong

    Listing office BOLD Real Estate Group 2002 Judson Road, Longview, TX

    Listing date Sep 22, 2025

    MLS# 20256479 Listing URL

    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.

    Overview

    Income-Producing Duplex in Gladewater

    This income-producing duplex in Gladewater presents an investor opportunity. The property features two units, each containing two bedrooms and one bathroom, with approximately 997 square feet of living space per unit. One unit is currently occupied under a month-to-month lease at $775 per month, while the other unit is vacant and available for a new tenant or owner-occupant. Tenants are responsible for covering their own utilities. Each unit is equipped with kitchen appliances and includes parking. One of the units also features a fenced yard. A detached garage provides additional storage space. The property is centrally located near schools and the antiques district, with convenient access to Longview and Tyler. This duplex offers consistent rental demand and proven performance, making it a suitable addition to any investment portfolio.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Gladewater
    County
    Gregg
    State
    Texas
    Longitude
    -94.947136
    Latitude
    32.540443

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    FAQs

    What type of property is this?
    Duplex - Gladewater duplex with tenant in place, vacant unit available.
    Where is this duplex located?
    The property is located at 523 Melba Avenue Gladewater, TX.
    What is the asking price?
    The asking price for this property is $137,995.
    What are key features of this property?
    This property features: Income‑producing duplex: Ideal for investors seeking immediate rental income.; One unit is vacant: **Opportunity for owner‑occupancy** or to select a new tenant at market rates.; Low landlord expenses: Tenants pay their own utilities.
    (903) 374-5153
    We can help!
    Listing Contact
    Mark Armstrong
    Mark Armstrong
    Real Estate License ID: 0616432
    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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