Updated Two-Unit
For Sale
$389,999
Pending
117-119 Rowland Place, Tyler, TX 75701
Two self-contained residences feature private entrances, full amenities, and separate living arrangements.
Property Size2,858 SF
Days on Market217
Property Features for 117-119 Rowland Place
General Information
Standard status
Pending
Size
2,858 SF
Property subtype
Multi Family
Zoning
Two Family Dwelling
Amenities
2 Stories
Central Electric
Central Gas
Two or More, Decorative/Mock
Wood Fence
Concrete
Pier and Beam
Brick Veneer, Brick and Wood, Siding, Brick and Stone
Building Details
Year Built
1934
Units
2
Listing Agency:
Shilling Real Estate Company
(903) 520-1559
Listed By:
Jamey Whitley · License #0726781
(903) 520-1559
Source:
Compass
Added: Jan 26
Changed: Aug 30
Last Checked: Aug 30 at 3:32PM
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 Shilling Real Estate Company
Investment Insights
Based on property information with market context.
Built in 1934, this 2,858-square-foot duplex contains two independent residential units, each with its own entrance and complete living amenities. Both sides include living and dining areas, bedrooms, washer and dryer connections, updated bathrooms, and kitchens equipped with granite counters, stainless appliances, and storage cabinetry. Original wood floors, decorative fireplaces, and classic trim complement the modern improvements. The property has two stories, central electric and gas service, and a pier-and-beam foundation.
Located at 117-119 Rowland Place in Tyler, the property is near Tyler’s Children’s Park, Downtown Tyler, and the Medical District. Additional parking is available behind the building. Two Family Dwelling zoning supports the property’s duplex configuration, while the separate layouts accommodate independent occupancy.
Located at 117-119 Rowland Place in Tyler, the property is near Tyler’s Children’s Park, Downtown Tyler, and the Medical District. Additional parking is available behind the building. Two Family Dwelling zoning supports the property’s duplex configuration, while the separate layouts accommodate independent occupancy.
Key Highlights
- 2,858‑square‑foot duplex built in 1934
- Two independent units, each with a private entrance and full amenities
- Updated kitchens with granite countertops and stainless appliances
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
$25,814
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
6.62%
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%
$516,280
$516.3K
Cap Rate 7%
$368,771
$368.8K
Cap Rate 9%
$286,822
$286.8K
Market Conditions
NOI Build-Up for 2,858 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
$39.4K $13.80/SF
− Vacancy
−$2.6K −$0.90/SF
EGI
$36.9K $12.90/SF
− OpEx
−$11.1K −$3.87/SF
NOI
$25.8K $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%
$516,280
Cap Rate 7%
$368,771
Cap Rate 9%
$286,822
Alternative Uses
Best Use
Multifamily LT 5
$368.8K
$322.7K – $430.2K
NOI $25,814 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$345.6K
$302.4K – $403.2K
NOI $24,192 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$637.9K
$558.2K – $744.2K
NOI $44,653 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,702
Businesses Nearby
Explore this area
Business Placement
Demographics for 75701, TX
34,502
Population
14,630
Households
2.4
Avg Household Size
35
Median Age
29%
College-Educated
89%
High-School Grad
14.1 sq mi
ZIP Area
2,447
Density / Sq Mi
$62,091
Median Household Income
$29,448
Median Earnings
$1,250
Median Rent
$190,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two self-contained residences feature private entrances, full amenities, and separate living arrangements.
Where is this duplex located?
The property is located at 117-119 Rowland Place Tyler, TX.
What is the asking price?
The asking price for this property is $389,999.
What are key features of this property?
This property features: 2,858‑square‑foot duplex built in 1934; Two independent units, each with a private entrance and full amenities; Updated kitchens with granite countertops and stainless appliances
