Three-Unit Triplex with Renovated
For Sale
$289,900
1302 Bowie, Texarkana, TX 75501
MULTI_FAMILY - Other - Texarkana, TX
Property Size3,083 SF
Lot Size0.22 Acres
Price / SF$94.03
Days on Market108
Property Features for 1302 Bowie
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 6, Bathroom 3, Bedroom 8, Bathroom 1, Bedroom 7
Parking features
Garage
Interior features
Ceiling Fan(s)
Appliances
Electric Cooktop, Electric Oven, Refrigerator
Subdivision
Watts Addition
Directions
Summerhill, right on W 13th, right on Bowie St. Property is located on the corner of W 13th and Bowie.
Standard status
Active
Size
3,083 SF
Lot size
0.22 Acres
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Window Unit(s), Ductless
Water source
Public
Building Details
Year built
1950
Floors in Building
2
Number of units
3
Flooring type
Carpet, Tile
Building materials
Shingle Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
Fathom Realty-TX
(888) 455-6040
Listed By:
Ashly King · License #AR SA00086546 TX 717562
(903) 306-9009
Added: Apr 24
Changed: Aug 4
Last Checked: Aug 9 at 8:06AM
MLS# 204844
Copyright © 2026 Texarkana Board 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.
Well-located three-unit triplex offering three separate rental units. Unit A features 3 bedrooms and 1 bath, Unit B has 3 bedrooms and 1 bath, and Unit C offers 2 bedrooms and 1 bath. Units B and C have been recently renovated, supporting strong market appeal for tenants.
The property sits on a 0.215-acre lot with approximately 3,083 square feet under roof. The building was constructed in 1950 and features shingle siding and a composition roof. The roof is approximately 4 years old. Utilities include public water and public sewer.
Comfort is supported through ductless heating and ductless and window unit cooling, with ceiling fans noted in the interior. The property also includes a garage for parking, and in-unit appliances include an electric cooktop, electric oven, and refrigerator. Flooring includes tile and carpet, with heating and cooling systems suited for individual-unit control.
The property sits on a 0.215-acre lot with approximately 3,083 square feet under roof. The building was constructed in 1950 and features shingle siding and a composition roof. The roof is approximately 4 years old. Utilities include public water and public sewer.
Comfort is supported through ductless heating and ductless and window unit cooling, with ceiling fans noted in the interior. The property also includes a garage for parking, and in-unit appliances include an electric cooktop, electric oven, and refrigerator. Flooring includes tile and carpet, with heating and cooling systems suited for individual-unit control.
Key Highlights
- Three‑unit triplex with Unit A (3 beds/1 bath), Unit B (3 beds/1 bath), Unit C (2 beds/1 bath)
- Units B and C recently renovated
- Roof is approximately 4 years old
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
$22,302
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
7.69%
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%
$446,040
$446.0K
Cap Rate 7%
$318,600
$318.6K
Cap Rate 9%
$247,800
$247.8K
Market Conditions
NOI Build-Up for 3,083 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
$34.4K $11.16/SF
− Vacancy
−$2.5K −$0.83/SF
EGI
$31.9K $10.33/SF
− OpEx
−$9.6K −$3.10/SF
NOI
$22.3K $7.23/SF
Area
Bowie County, TX
Vacancy
7.40%
Lease Rate
$11.16 /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%
$446,040
Cap Rate 7%
$318,600
Cap Rate 9%
$247,800
Alternative Uses
Best Use
Multifamily LT 5
$318.6K
$278.8K – $371.7K
NOI $22,302 @ 7.0% cap · market cap 7.69%
Second Best
Apartment 5plus
$263.5K
$230.5K – $307.4K
NOI $18,443 @ 7.0% cap · market cap 6.36%
Theoretical Best
Hotel Hospitality
$2.32M
$2.03M – $2.71M
NOI $162,551 @ 7.0% cap · market cap 56.07%
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
284
Businesses Nearby
Explore this area
Business Placement
Demographics for 75501, TX
36,423
Population
15,302
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
86%
High-School Grad
96.3 sq mi
ZIP Area
378
Density / Sq Mi
$46,782
Median Household Income
$33,758
Median Earnings
$904
Median Rent
$125,700
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 - Three-unit triplex on a small lot with renovated units B and C, public utilities, and ductless heating and cooling.
Where is this triplex located?
The property is located at 1302 Bowie Texarkana, TX.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Three‑unit triplex with Unit A (3 beds/1 bath), Unit B (3 beds/1 bath), Unit C (2 beds/1 bath); Units B and C recently renovated; Roof is approximately 4 years old
