2-Unit Brick
New
For Sale
$439,000
1421/1423 E Houston, Tyler, TX 75702
Residential Income, Tyler, TX
Property Size2,496 SF
Price / SF$175.88
Days on Market2
Property Features for 1421/1423 E Houston
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Subdivision
Wright Tyler
Elementary school
Bonner
Middle school
Moore
High school
Tyler High
Directions
From Broadway Ave, head east on E. Houston St. Turn right on S. Fleishel Ave, then right back onto E. Houston St. Property will be on the right.
Standard status
Active
Size
2,496 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
Wright Tyler Block 236 Lot 3
Tax Annual Amount
7265
Legal Description
Wright Tyler Block 236 Lot 3
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric, Central Air
Building Details
Year built
2011
Number of units
2
Building materials
Brick
Listing Agency:
The Property Shoppe - eXp Realty, LLC · ERA Real Estate
(903) 561-2200
Listed By:
Kevin Stansbury · License #0797092
(430) 435-7872
Added: Oct 2
Last Checked: Oct 3 at 2:06AM
MLS# 26013464
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.
Built in 2011, this brick duplex contains two separate residences. Each offers 3 bedrooms, 2 bathrooms and approximately 1,248 square feet, for approximately 2,496 square feet of combined living area. Central heating and electric central air serve the units, and the property connects to public sewer. The site encompasses nearly half an acre.
The property is at 1421/1423 E Houston in Tyler, near the city’s medical district, shopping, dining and schools.
The property is at 1421/1423 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 per unit; approximately 2,496 square feet combined
- Brick construction; built in 2011
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
$22,544
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
5.14%
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%
$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
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
$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 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%
$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
2,043
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 - Two separate residences provide matching layouts, with public sewer service and central heating and cooling.
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 per unit; approximately 2,496 square feet combined; Brick construction; built in 2011
