New Construction Apartment
For Sale
$1,600,000
500 Mt Sylvan Street, Lindale, TX 75771
Eight two-story townhome residences offer private garages, modern kitchens, and three-bedroom layouts within a residential townhouse zoning designation.
Property Size10,080 SF
Price / SF$158.73
Days on Market549
Property Features for 500 Mt Sylvan Street
General Information
Standard status
Active
Size
10,080 SF
Total Parking Spaces
8
Property subtype
Residential Income / Quadruplex
Additional Details
Multifamily Units
8
Amenities
Central Electric, Ceiling Fan(s)
Central
Carpet, Vinyl
Electric Range, Dishwasher, Microwave, Refrigerator
Pantry
Other/See Remarks
Covered
Building Details
Year Built
2025
Buildings
2
Listing Agency:
Lewis Realty
Listed By:
Lawrence Lewis · License #0549725
(903) 534-1320
Source:
Compass
Added: Apr 16, 2025
Changed: Oct 11
Last Checked: Oct 15 at 1:22AM
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 Lewis Realty
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Investment Insights
Based on property information with market context.
This 10,080-square-foot multifamily property comprises two fourplex buildings completed in 2025. The residences are arranged across two levels, with three bedrooms, two bathrooms, and laundry connections located upstairs. Ground-floor interiors provide an open kitchen and dining or den arrangement, along with pantry storage and contemporary finishes including granite countertops and stainless-steel appliances. Carpet and vinyl plank flooring are installed throughout, with central electric service and ceiling fans.
Each townhome includes a single-car garage and a covered patio. The property is zoned Residential Townhouse and is located at 500 Mt Sylvan Street in Lindale, Texas. Private fencing is planned for installation by the owner.
Each townhome includes a single-car garage and a covered patio. The property is zoned Residential Townhouse and is located at 500 Mt Sylvan Street in Lindale, Texas. Private fencing is planned for installation by the owner.
Key Highlights
- Two fourplex buildings with a combined 10,080 SF
- 2025 construction with two‑story townhome residences
- Each residence includes 3 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,676
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,513,520
$1.5M
Cap Rate 7%
$1,081,086
$1.1M
Cap Rate 9%
$840,844
$840.8K
Market Conditions
NOI Build-Up for 10,080 SF
Gross rent
$151.2K $15.00/SF
− Vacancy
−$13.6K −$1.35/SF
EGI
$137.6K $13.65/SF
− OpEx
−$61.9K −$6.14/SF
NOI
$75.7K $7.51/SF
Area
Smith County, TX
Vacancy
9.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,513,520
Cap Rate 7%
$1,081,086
Cap Rate 9%
$840,844
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$946.0K – $1.26M
NOI $75,676 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$7.59M
$6.64M – $8.86M
NOI $531,468 @ 7.0% cap · market cap 33.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
Demographics for 75771, TX
21,870
Population
9,241
Households
2.4
Avg Household Size
41
Median Age
29%
College-Educated
91%
High-School Grad
146.1 sq mi
ZIP Area
150
Density / Sq Mi
$90,112
Median Household Income
$48,088
Median Earnings
$1,318
Median Rent
$266,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight two-story townhome residences offer private garages, modern kitchens, and three-bedroom layouts within a residential townhouse zoning designation.
Where is this apartment building located?
The property is located at 500 Mt Sylvan Street Lindale, TX.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Two fourplex buildings with a combined 10,080 SF; 2025 construction with two‑story townhome residences; Each residence includes 3 bedrooms and 2 bathrooms
