Duplex with Remodeled
113 & 115 E Heritage Drive Tyler, TX 75703
For Sale
$496,000
Duplex featuring remodeled unit and new roof in Tyler, TX.
Property Size3,676 SF
Price / SF$134.93
Days on Market115
Property Features for 113 & 115 E Heritage Drive
General Information
- Standard status
- Active
- Size
- 3,676 SF
- Property subtype
- Duplex
Listing Agency:
Drake Real Estate & Investments
(903) 571-8014
Listed By:
Brent Bradberry · License #0715170
Source:
Draketexas
Added: Apr 1
Changed: Jul 10
Last Checked: Jul 23 at 4:48AM
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 Drake Real Estate & Investments
Investment Insights
Based on property information with market context.
This duplex property features two units, each approximately 1,838 square feet, and includes three bedrooms, two bathrooms, and a two-car garage per unit. The property includes front and back yards, as well as additional parking on E. Heritage Drive. A new roof was installed in 2022. Unit 113 has a new HVAC system installed in 2024. Unit 115 was fully remodeled and includes new appliances as of 2022. Both units are currently under 1-year leases expiring on December 31, 2026.
Key Highlights
- Spacious units, approximately 1,838 sq ft, each with 3 beds and 2 baths.
- Benefit from a 2‑car garage and extra parking on E. Heritage Drive.
- Unit 115 is fully remodeled with new appliances (2022).
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.7k | $13.80 |
| − Vacancy | −$3.3k | −$0.90 |
| EGI | $47.4k | $12.90 |
| − OpEx | −$14.2k | −$3.87 |
| NOI | $33.2k | $9.03 |
3,676 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$474.3K
$415.0K – $553.4K
NOI $33,202 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$444.5K
$389.0K – $518.6K
NOI $31,116 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$820.5K
$717.9K – $957.2K
NOI $57,433 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex featuring remodeled unit and new roof in Tyler, TX.
Where is this duplex located?
The property is located at 113 & 115 E Heritage Drive Tyler, TX.
What is the asking price?
The asking price for this property is $496,000.
What are key features of this property?
This property features: Spacious units, approximately 1,838 sq ft, each with 3 beds and 2 baths.; Benefit from a 2‑car garage and extra parking on E. Heritage Drive.; Unit 115 is fully remodeled with new appliances (2022).
