Renovated Triplex with Fenced
For Sale
$649,900
140 Farm To Market 16, Tyler, TX 75706
Three residential units provide varied bedroom and bathroom configurations with updated finishes and dedicated outdoor areas.
Property Size3,432 SF
Price / SF$189.36
Days on Market273
Property Features for 140 Farm To Market 16
General Information
Standard status
Active
Size
3,432 SF
Property subtype
Residential Income / Triplex
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
3
Amenities
large parking area
fully fenced backyards
Central Electric
Central
Other
Building Details
Year Built
1964
Listing Agency:
Keller Williams Realty Tyler
Listed By:
Ryan Major · License #0654996
(903) 307-2884
Source:
Compass
Added: Jan 19
Changed: Oct 13
Last Checked: Oct 16 at 10:25AM
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 Keller Williams Realty Tyler
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,432-square-foot, one-story triplex contains three residential units with a 1-bedroom, 1-bath layout; a 2-bedroom, 1-bath layout; and a 3-bedroom, 2-bath layout. The property has been renovated with updated finishes, central electric service, brick and stone exterior elements, slab construction, a large parking area, and fully fenced backyards. It was built in 1964 and is zoned Commercial.
The property is positioned near I-20 at the intersection of FM 14 and FM 16 in Red Springs. Although it carries a Tyler address, it is located within Winona ISD. The configuration offers a range of unit sizes within one multifamily property, while the private fenced yards and on-site parking add practical features for residential occupancy.
The property is positioned near I-20 at the intersection of FM 14 and FM 16 in Red Springs. Although it carries a Tyler address, it is located within Winona ISD. The configuration offers a range of unit sizes within one multifamily property, while the private fenced yards and on-site parking add practical features for residential occupancy.
Key Highlights
- Three‑unit residential property with 1‑bedroom, 1‑bath; 2‑bedroom, 1‑bath; and 3‑bedroom, 2‑bath layouts
- 3432 square feet with one‑story configuration
- Renovated interiors with updated finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,998
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$619,960
$620.0K
Cap Rate 7%
$442,829
$442.8K
Cap Rate 9%
$344,422
$344.4K
Market Conditions
NOI Build-Up for 3,432 SF
Gross rent
$47.4K $13.80/SF
− Vacancy
−$3.1K −$0.90/SF
EGI
$44.3K $12.90/SF
− OpEx
−$13.3K −$3.87/SF
NOI
$31.0K $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 Rate 5%
$619,960
Cap Rate 7%
$442,829
Cap Rate 9%
$344,422
Alternative Uses
Best Use
Multifamily LT 5
$442.8K
$387.5K – $516.6K
NOI $30,998 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$415.0K
$363.1K – $484.2K
NOI $29,050 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$766.0K
$670.3K – $893.7K
NOI $53,621 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 75706, TX
10,313
Population
4,332
Households
2.4
Avg Household Size
34
Median Age
10%
College-Educated
81%
High-School Grad
75.6 sq mi
ZIP Area
136
Density / Sq Mi
$57,845
Median Household Income
$32,886
Median Earnings
$941
Median Rent
$125,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units provide varied bedroom and bathroom configurations with updated finishes and dedicated outdoor areas.
Where is this triplex located?
The property is located at 140 Farm To Market 16 Tyler, TX.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Three‑unit residential property with 1‑bedroom, 1‑bath; 2‑bedroom, 1‑bath; and 3‑bedroom, 2‑bath layouts; 3432 square feet with one‑story configuration; Renovated interiors with updated finishes
