Renovated Three-Unit
For Sale
$649,900
140 FM 16 W, Tyler, TX 75706
Residential Income, Tyler, TX
Property Size3,432 SF
Lot Size6.51 Acres
Price / SF$189.36
Days on Market231
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
Electric, Central Air
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: Oct 3
Last Checked: Oct 7 at 4:06PM
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 at 140 FM 16 W in Tyler contains three residential units with a combined 3,432 square feet. The unit mix includes a one-bedroom, one-bath residence; a two-bedroom, one-bath residence; and a three-bedroom, two-bath residence. Each unit has updated finishes, while the brick building is served by central heating, electric cooling, and central air. The property was built in 1964 and uses an aerobic septic system.
The 6.514-acre property is near I-20 at the intersection of FM 14 and FM 16 in Red Springs, carries a Tyler address, and is located within Winona ISD. A large parking area and fully fenced backyards provide dedicated exterior space for the residential units.
The 6.514-acre property is near I-20 at the intersection of FM 14 and FM 16 in Red Springs, carries a Tyler address, and is located within Winona ISD. A large parking area and fully fenced backyards provide dedicated exterior space for the residential units.
Key Highlights
- Three residential units with 1‑bedroom, 1‑bath; 2‑bedroom, 1‑bath; and 3‑bedroom, 2‑bath layouts
- 3,432 square feet on 6.514 acres
- Renovated brick property with updated unit 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.
Property Analytics
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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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Updated residential income property with varied unit layouts, fenced outdoor areas, and substantial on-site parking.
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: Three residential units with 1‑bedroom, 1‑bath; 2‑bedroom, 1‑bath; and 3‑bedroom, 2‑bath layouts; 3,432 square feet on 6.514 acres; Renovated brick property with updated unit finishes
