Fully Leased Bullard
For Sale
Contact for pricing
Pending
106 Sydney Dr, Bullard, TX 75757
Income-producing quadplex in Bullard, Texas, with strong rental demand.
Property Size5,212 SF
Days on Market148
Property Features for 106 Sydney Dr
General Information
Standard status
Pending
Size
5,212 SF
Property subtype
Multifamily, Special Purpose
Occupancy
100%
Net Operating Income
$59,143
Building Details
Year Built
2020
Units
4
Listing Agency:
Expansion Realty Partners
(214) 923-3204
Listed By:
Andy Kutach · License #TX 688162
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 10 at 2:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Expansion Realty Partners
Investment Insights
Based on property information with market context.
This fully leased quadplex is located in Bullard, Texas. The property consists of four units, each featuring three bedrooms and two bathrooms. Each unit offers open and functional floor plans, comfortable living areas, full kitchens with ample storage, generous bedrooms and closet space, and washer/dryer connections. The property also includes ample parking and a low-maintenance exterior. The property size is 5212 square feet. This income-producing property offers immediate cash flow with strong rental demand driven by its proximity to Tyler, local schools, and everyday conveniences.
Key Highlights
- Fully leased quadplex providing immediate cash flow.
- Four spacious 3‑bedroom, 2‑bathroom units, a highly desirable layout.
- Located in the rapidly growing area of Bullard, TX.
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
$45,042
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
6.67%
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%
$900,840
$900.8K
Cap Rate 7%
$643,457
$643.5K
Cap Rate 9%
$500,467
$500.5K
Market Conditions
NOI Build-Up for 5,212 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
$70.4K $13.50/SF
− Vacancy
−$6.0K −$1.15/SF
EGI
$64.3K $12.35/SF
− OpEx
−$19.3K −$3.70/SF
NOI
$45.0K $8.64/SF
Area
Smith County, TX
Vacancy
8.55%
Lease Rate
$13.50 /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%
$900,840
Cap Rate 7%
$643,457
Cap Rate 9%
$500,467
Alternative Uses
Best Use
Multifamily LT 5
$643.5K
$563.0K – $750.7K
NOI $45,042 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$559.0K
$489.1K – $652.2K
NOI $39,129 @ 7.0% cap · market cap 5.80%
Theoretical Best
Hotel Hospitality
$3.93M
$3.44M – $4.58M
NOI $274,803 @ 7.0% cap · market cap 40.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
Explore this area
Business Placement
Demographics for 75757, TX
13,330
Population
5,826
Households
2.3
Avg Household Size
41
Median Age
31%
College-Educated
92%
High-School Grad
86.1 sq mi
ZIP Area
155
Density / Sq Mi
$89,382
Median Household Income
$47,480
Median Earnings
$1,151
Median Rent
$277,600
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?
Quadplex - Income-producing quadplex in Bullard, Texas, with strong rental demand.
Where is this quadplex located?
The property is located at 106 Sydney Dr Bullard, TX.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Fully leased quadplex providing immediate cash flow.; Four spacious 3‑bedroom, 2‑bathroom units, a highly desirable layout.; Located in the rapidly growing area of Bullard, TX.
