Renovated Triplex with Fenced
For Sale
$649,900
140 FM 16 W, Tyler, TX 75706
MULTI_FAMILY - Tyler, TX
Property Size3,432 SF
Lot Size6.51 Acres
Price / SF$189.36
Days on Market177
Property Features for 140 FM 16 W
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Subdivision
ABST A0377 C GREEN
Elementary school
Winona
Middle school
Winona
High school
Winona
Directions
From I-20 head N on FM 14. Property located at the corner of 14 and FM 16.
Standard status
Active
Size
3,432 SF
Lot size
6.51 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ABST A0377 C GREEN TRACT 2A.1, 2A.2, 2A,3 6.514 AC
Tax Annual Amount
7951
Legal Description
ABST A0377 C GREEN TRACT 2A.1, 2A.2, 2A,3 6.514 AC
Utilities
Sewer type
Aerobic Septic
Heating system
Central
Cooling system
Central Air, Electric
Amenities
large parking area
fully fenced backyards
Building Details
Year built
1964
Floors in Building
1
Number of units
3
Building materials
Brick
Listing Agency:
Keller Williams Realty-Tyler
(903) 534-6600
Listed By:
Ryan Major · License #0654996
(903) 307-2884
Added: Feb 18
Changed: Aug 13
Last Checked: Aug 14 at 9:06PM
MLS# 26003219
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.
Investment Insights
Based on property information with market context.
This renovated triplex contains 3,432 square feet and offers a varied residential configuration: one one-bedroom, one-bath unit; one two-bedroom, one-bath unit; and one three-bedroom, two-bath unit. Updated finishes are complemented by fully fenced backyards and a large parking area. The building has brick construction, central heating, electric cooling with central air, and an aerobic septic system.
The property occupies 6.514 acres and carries a Tyler address. It is positioned near I-20 at the FM 14 and FM 16 intersection in Red Springs, within Winona ISD. Originally configured as a storefront and office with an attached apartment, the property has been converted into three residential units and is generating income.
The property occupies 6.514 acres and carries a Tyler address. It is positioned near I-20 at the FM 14 and FM 16 intersection in Red Springs, within Winona ISD. Originally configured as a storefront and office with an attached apartment, the property has been converted into three residential units and is generating income.
Key Highlights
- 3,432‑square‑foot triplex with 3 residential units
- Unit mix includes 1‑bedroom, 2‑bedroom, and 3‑bedroom residences
- Situated on 6.514 acres near I‑20 and the FM 14/FM 16 intersection
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
$30,998
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
4.77%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
21
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
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 residential units feature updated interiors, private fenced backyards, and a substantial shared parking area.
Where is this triplex located?
The property is located at 140 FM 16 W 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: 3,432‑square‑foot triplex with 3 residential units; Unit mix includes 1‑bedroom, 2‑bedroom, and 3‑bedroom residences; Situated on 6.514 acres near I‑20 and the FM 14/FM 16 intersection
