Two-Unit
New
For Sale
$439,000
1421/1423 E Houston, Tyler, TX 75702
Each residence includes three bedrooms and two bathrooms, with separate living space in both units.
Property Size2,496 SF
Price / SF$175.88
Days on Market5
Property Features for 1421/1423 E Houston
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2011
Listing Agency:
Newberry Real Estate
Listed By:
Brad Newberry · License #0526613
(903) 780-8015
Source:
Newberryre
Added: Oct 4
Changed: Oct 7
Last Checked: Oct 7 at 12:42PM
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 Newberry Real Estate
Investment Insights
Based on property information with market context.
Built in 2011, this duplex contains two separate residences, each with three bedrooms, two bathrooms, and approximately 1,248 square feet. Together, the units provide approximately 2,496 square feet of living area on a lot measuring nearly half an acre.
The property is on E Houston in Tyler, near the city's medical district, shopping, dining, and schools.
The property is on E Houston in Tyler, near the city's medical district, shopping, dining, and schools.
Key Highlights
- Two units, each with 3 bedrooms and 2 bathrooms
- Approximately 1,248 square feet of living area per unit
- Approximately 2,496 square feet of combined living area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,544
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$450,880
$450.9K
Cap Rate 7%
$322,057
$322.1K
Cap Rate 9%
$250,489
$250.5K
Market Conditions
NOI Build-Up for 2,496 SF
Gross rent
$34.4K $13.80/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$32.2K $12.90/SF
− OpEx
−$9.7K −$3.87/SF
NOI
$22.5K $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%
$450,880
Cap Rate 7%
$322,057
Cap Rate 9%
$250,489
Alternative Uses
Best Use
Multifamily LT 5
$322.1K
$281.8K – $375.7K
NOI $22,544 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$301.8K
$264.1K – $352.1K
NOI $21,127 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$557.1K
$487.5K – $650.0K
NOI $38,997 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 75702, TX
26,777
Population
10,273
Households
2.6
Avg Household Size
32
Median Age
8%
College-Educated
72%
High-School Grad
14.1 sq mi
ZIP Area
1,899
Density / Sq Mi
$51,177
Median Household Income
$30,399
Median Earnings
$906
Median Rent
$99,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Duplex - Each residence includes three bedrooms and two bathrooms, with separate living space in both units.
Where is this duplex located?
The property is located at 1421/1423 E Houston Tyler, TX.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 bathrooms; Approximately 1,248 square feet of living area per unit; Approximately 2,496 square feet of combined living area
