Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Side-by-Side Duplex Investment Title is generated by Realmo AI

    113 & 115 E Heritage Drive, Tyler, TX 75703

    View on Map
    Claim this Listing
    For Sale
    $496,000

    MULTI_FAMILY - Tyler, TX

    Property size:
    3,676 SF
    Lot size:
    0.34 Acres
    Price / SF:
    $134/SF
    Added:
    Mar 25, 2026
    Days on Market:
    72
    Last Refresh:
    Jun 4 at 4:06 am

    Property Features for 113 & 115 E Heritage Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 3, Bedroom 5, Bedroom 6, Bathroom 2
    Parking features
    Garage
    Fencing
    Brick, Wood
    Fireplace
    1
    Standard status
    Active
    Size
    3,676 SF
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Year
    2025

    Utilities

    Heating system
    Natural Gas, Central
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1971
    Number of units
    2
    Building materials
    Brick and Wood, Wood/ Frame

    We can help!

    Listing Contact
    Brent Bradberry
    Brent Bradberry

    Listing agent Brent Bradberry License #0715170

    Listing office Drake Real Estate & Investments 11621 CR 166, Tyler, TX

    Listing date Mar 25, 2026

    MLS# 26004160 Listing URL

    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.

    HighLights

    • Fully occupied side‑by‑side duplex in South Tyler (Heritage South Subdivision).
    • Approx. 1,838 SF per side; each unit has 3 bedrooms, 2 bathrooms, and a 2‑car garage.
    • Unit 115 fully remodeled in 2022 and new roof in 2022.
    • New HVAC for unit 113 in 2024; central heating (natural gas) and central air (electric).
    • Fireplace present; wood and brick fencing; front and back yards with additional common parking along E. Heritage Drive.
    • Both units on 1‑year leases expiring 12/31/26.

    Overview

    This side-by-side duplex consists of two separate units at 113 and 115 E Heritage Drive, offered fully occupied. Each unit is approximately 1,838 square feet and includes 3 bedrooms, 2 bathrooms, a 2-car garage, and both front and back yards. Additional common parking spaces are available along E. Heritage Drive. Property updates include a new roof completed in 2022, a new HVAC installed for unit 113 in 2024, and a full remodel for unit 115 in 2022. Interior photos shown are of unit 115.

    The property is located in the Heritage South Subdivision in South Tyler, with nearby shopping and dining noted in the remarks and easy access to S. Broadway Ave. Common parking for guests or residents is provided along E. Heritage Drive.

    For investors or buyers seeking a turnkey residential income property, the duplex presents two leased units with one-year leases currently in place. Both leases are set to expire on 12/31/26. With the roof and select HVAC/remodel work already completed, the property may appeal to those looking for a maintained, income-producing structure within a side-by-side duplex format.

    Local 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 (±1% cap)
    NOI $33,202 @ 7.0% cap · market cap 6.69%
    Second Best
    Apartment 5plus
    $444.5K
    $389.0K – $518.6K (±1% cap)
    NOI $31,116 @ 7.0% cap · market cap 6.27%
    Theoretical Best
    Office A
    $820.5K
    $717.9K – $957.2K (±1% cap)
    NOI $57,433 @ 7.0% cap · market cap 11.58%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile 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 Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.305496
    Latitude
    32.266125

    Nearby Similar for Sale

    • $453,000
      4,727 SF

      Partially Leased Office/Retail Building

      Partially leased office/retail building in Qualified Opportunity Zone.
      913 W Bow St, Tyler, TX 75702
      View Details
    • $1,900,000
      4,385 SF

      Drive-Through QSR Restaurant Outparcel

      Former Whataburger building with double drive-thru, bailout lane, and strong visibility on a Walmart outparcel.
      6849 S Broadway Avenue, Tyler, TX 75703
      View Details
    • $1,250,000
      6,698 SF

      Historic Commercial Property with Charm

      1912 historic commercial property with exceptional business potential.
      313 E Charnwood, Tyler, TX 75701
      View Details
    • $499,900

      Tyler Office Building For Sale

      2,224 SF commercial building with prime location and updates.
      1624 N Northwest Loop 323, Tyler, TX 75702
      View Details
    • $783,000
      3,480 SF

      Freestanding Office-Retail Building

      Freestanding office-retail space for sale in shell condition, zoned C-1 with shared parking and strong nearby traffic.
      5647 KPE Way, Tyler, TX 75703
      View Details
    • $3,500,000
      4,458 SF

      Operating Gas Station on Highway

      Operating Exxon gas station with commercial kitchen on busy highway.
      5315 Troup HWY, Tyler, TX 75707
      View Details
    • $750,000
      5,220 SF

      Tyler Office Building For Sale

      Commercial office building with twelve offices, reception, and parking.
      200 E Amherst, Tyler, TX 75701
      View Details
    • $1,650,000
      9,056 SF

      Income-Producing Multifamily Retreat

      Income-producing property with multiple occupied rental units and value-add potential on a sizable country lot.
      13597 County Road 35, Tyler, TX 75706
      View Details
    • $828,000
      4,601 SF

      Versatile Retail/Office Building For Sale

      4,601 SF property suited for office, wellness, hospitality, education.
      19359 Hwy 69 S, Tyler, TX 75703
      View Details
    • $400,000

      Flex Building with Roll-Up Doors

      Metal-and-brick flex building combines office space with climate-controlled manufacturing or multi-use areas and warehouse storage.
      3456 Shiloh Road, Tyler, TX 75707
      View Details
    • $783,000
      3,480 SF

      Freestanding Office/Retail Building For Sale

      Freestanding office/retail building for sale in Tyler, TX.
      5647 KPE Way Option 1, Tyler, TX 75703
      View Details

    FAQs

    What type of property is this?
    Duplex - Fully occupied duplex with two 3-bedroom units, garages, yards, and recent roof and HVAC improvements.
    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: Fully occupied side‑by‑side duplex in South Tyler (Heritage South Subdivision).; Approx. 1,838 SF per side; each unit has 3 bedrooms, 2 bathrooms, and a 2‑car garage.; Unit 115 fully remodeled in 2022 and new roof in 2022.
    (903) 581-3737
    We can help!
    Listing Contact
    Brent Bradberry
    Brent Bradberry
    Real Estate License ID: 0715170
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    113 & 115 E Heritage Drive, Tyler, TX 75703
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!