Triplex with Deck and
For Sale
$449,000
831 W Houston Street, Tyler, TX 75702
MULTI_FAMILY - Tyler, TX
Property Size2,966 SF
Lot Size0.18 Acres
Price / SF$151.38
Days on Market25
Property Features for 831 W Houston Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
On Street
Patio and Porch features
Deck
Interior features
Ceiling Fan
Exterior features
Courtyard, Rain Gutters
Fireplace
1
Appliances
Dishwasher, Disposal, Electric Oven
Subdivision
T C Williams
Elementary school
Peete
Middle school
Hubbard
High school
Tyler Legacy
Directions
In Tyler, North on Broadway, left onto Houston Street, pass Vine Avenue, property is on the ight. SIY.
Standard status
Active
Size
2,966 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Block 326 Lot 11 T C Williams Sub
Tax Annual Amount
4700
Legal Description
Block 326 Lot 11 T C Williams Sub
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Electric, Ceiling Fan(s), Window Unit(s)
Water source
Public
Amenities
shared outdoor entertaining space with deck
Building Details
Year built
1932
Floors in Building
2
Number of units
3
Flooring type
Carpet, Wood, Tile - Ceramic
Building materials
Shingle Siding, Brick
Roof type
Composition
Listing Agency:
Better Homes & Gardens Real Es · Better Homes and Gardens Real Estate
(903) 881-0500
Listed By:
Jeremey Bernard · License #0724140
(903) 376-4045
Added: Jul 15
Changed: Aug 2
Last Checked: Aug 8 at 5:06PM
MLS# 26009843
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 well-maintained three-unit triplex offers three separate living units designed for everyday comfort and tenant convenience. The main building includes an upstairs 2-bedroom, 1-bath unit with a dedicated utility room, full-size kitchen, and spacious dining area, plus a downstairs 2-bedroom, 1-bath unit with its own utility room, full-size kitchen, and dining space. Tucked behind the main building is a private 1-bedroom, 1-bath cottage with a full-size kitchen, providing an additional long-term rental option.
Outside, residents can enjoy a large shared outdoor entertaining area with a deck, along with a courtyard setting. The home includes ceiling fans, central heating, and central air, with electric and window units listed among the cooling systems. Flooring includes carpet, wood, and ceramic tile.
Constructed in 1932 with shingle siding and brick, the property features a composition roof, rain gutters, and on-street parking. Water and sewer service are provided via public water and public sewer, and a fireplace is indicated.
Outside, residents can enjoy a large shared outdoor entertaining area with a deck, along with a courtyard setting. The home includes ceiling fans, central heating, and central air, with electric and window units listed among the cooling systems. Flooring includes carpet, wood, and ceramic tile.
Constructed in 1932 with shingle siding and brick, the property features a composition roof, rain gutters, and on-street parking. Water and sewer service are provided via public water and public sewer, and a fireplace is indicated.
Key Highlights
- Three separate units: upstairs 2 bed/1 bath, downstairs 2 bed/1 bath, plus a private 1 bed/1 bath cottage
- Lot size 0.18 acres with shared outdoor entertaining deck and courtyard
- Upstairs unit includes a dedicated utility room, full‑size kitchen, and dining area
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
$26,789
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
5.97%
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%
$535,780
$535.8K
Cap Rate 7%
$382,700
$382.7K
Cap Rate 9%
$297,656
$297.7K
Market Conditions
NOI Build-Up for 2,966 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
$40.9K $13.80/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$38.3K $12.90/SF
− OpEx
−$11.5K −$3.87/SF
NOI
$26.8K $9.03/SF
Area
Tyler, TX
Vacancy
6.50%
Lease Rate
$13.80 /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%
$535,780
Cap Rate 7%
$382,700
Cap Rate 9%
$297,656
Alternative Uses
Best Use
Multifamily LT 5
$382.7K
$334.9K – $446.5K
NOI $26,789 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$358.7K
$313.8K – $418.4K
NOI $25,106 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$662.0K
$579.3K – $772.3K
NOI $46,340 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Explore this area
Business Placement
Demographics for 75702, TX
26,777
Population
10,273
Households
2.6
Avg Household Size
32
Median Age
8%
College-Educated
72%
High-School Grad
14.1 sq mi
ZIP Area
1,899
Density / Sq Mi
$51,177
Median Household Income
$30,399
Median Earnings
$906
Median Rent
$99,700
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 - Well-maintained three-unit triplex with a shared deck and courtyard, including updated interiors and multiple kitchens for tenants.
Where is this triplex located?
The property is located at 831 W Houston Street Tyler, TX.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Three separate units: upstairs 2 bed/1 bath, downstairs 2 bed/1 bath, plus a private 1 bed/1 bath cottage; Lot size 0.18 acres with shared outdoor entertaining deck and courtyard; Upstairs unit includes a dedicated utility room, full‑size kitchen, and dining area
