Renovated Triplex with Fenced
For Sale
$649,900
140 Fm 16 Street West, 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 Market202
Property Features for 140 Fm 16 Street West
General Information
Standard status
Active
Size
3,432 SF
Property subtype
Multi Family
Zoning
Commercial
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
1 Story
Central Electric
Slab
Brick and Stone
Building Details
Year Built
1964
Units
3
Listing Agency:
Keller Williams Realty-Tyler
(972) 874-1905
Listed By:
Ryan Major · License #0654996
Source:
Compass
Added: Feb 8
Changed: Aug 29
Last Checked: Aug 29 at 1:42PM
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
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 = 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 provide varied bedroom and bathroom configurations with updated finishes and dedicated outdoor areas.
Where is this triplex located?
The property is located at 140 Fm 16 Street West 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
