Two-Unit Duplex
For Sale
$457,000
1421-1423 East Houston Street, Tyler, TX 75702
Each residence provides three bedrooms, two bathrooms, separate entry, and individual living space.
Property Size2,496 SF
Price / SF$183.09
Days on Market315
Property Features for 1421-1423 East Houston Street
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Multi Family
Zoning
Multi Fam Dwelling 1 St
Amenities
1 Story
Central Electric
Range/Oven-Electric, Dishwasher, Disposal, Microwave
Composition
Wood Fence
Slab
Brick Veneer
Building Details
Year Built
2011
Units
2
Listing Agency:
The Property Shoppe - eXp Realty, LLC
(903) 520-7370
Listed By:
Kevin Stansbury · License #0797092
Source:
Compass
Added: Oct 21, 2025
Changed: Aug 30
Last Checked: Aug 30 at 11:15PM
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 The Property Shoppe - eXp Realty, LLC
Investment Insights
Based on property information with market context.
Located at 1421-1423 East Houston Street in Tyler, this 2,496-square-foot duplex was built in 2011 and contains two matching residences. Each unit has three bedrooms, two bathrooms, separate access, and its own living area. The one-story layout includes central electric service, a range/oven, dishwasher, disposal, and microwave. Brick veneer, a composition exterior component, slab construction, and a wood fence complete the property improvements.
The duplex is near downtown Tyler, with access to area employers, medical facilities, restaurants, entertainment, UT Health Tyler School of Medicine, and nearby hospitals. Its zoning is identified as Multi Fam Dwelling 1 St.
The duplex is near downtown Tyler, with access to area employers, medical facilities, restaurants, entertainment, UT Health Tyler School of Medicine, and nearby hospitals. Its zoning is identified as Multi Fam Dwelling 1 St.
Key Highlights
- 2,496 SF duplex completed in 2011
- Two residences, each configured with 3 bedrooms and 2 bathrooms
- Separate entrances and individual living areas for each unit
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
4.93%
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 4.93%
Second Best
Apartment 5plus
$301.8K
$264.1K – $352.1K
NOI $21,127 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$557.1K
$487.5K – $650.0K
NOI $38,997 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence provides three bedrooms, two bathrooms, separate entry, and individual living space.
Where is this duplex located?
The property is located at 1421-1423 East Houston Street Tyler, TX.
What is the asking price?
The asking price for this property is $457,000.
What are key features of this property?
This property features: 2,496 SF duplex completed in 2011; Two residences, each configured with 3 bedrooms and 2 bathrooms; Separate entrances and individual living areas for each unit
