Seven-Unit Apartment
For Sale
$379,000
1502 E Earle Street, Tyler, TX 75702
Residential Income, Tyler, TX
Property Size2,268 SF
Lot Size0.28 Acres
Price / SF$167.11
Days on Market15
Property Features for 1502 E Earle Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Interior features
Ceiling Fan
Appliances
Gas Oven
Elementary school
Bonner
Middle school
Moore
High school
Tyler High
Directions
From Downtown Tyler - North Bonner Avenue, head towards West Erwin, turn left onto West Front Street, turn left onto South Mahon Avenue, turn left onto East Earle Street. Destination will be on the right. SIY.
Standard status
Active
Size
2,268 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Earle Block 538 Lot 11
Tax Annual Amount
3281
Legal Description
Earle Block 538 Lot 11
Utilities
Sewer type
Public Sewer
Cooling system
Ceiling Fan(s), Window Unit(s)
Water source
Public
Building Details
Year built
1915
Floors in Building
1
Number of units
7
Flooring type
Wood
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Better Homes & Gardens Real Es · Better Homes and Gardens Real Estate
(903) 881-0500
Listed By:
Jeremey Bernard · License #0724140
(903) 376-4045
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 31 at 11:06AM
MLS# 26011438
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 seven-unit apartment property contains 2,268 square feet on a 0.28-acre lot. Built in 1915, the structure has wood siding, a composition roof, and wood flooring. Interior features include ceiling fans, gas ovens, and window-unit cooling. Public water and public sewer serve the property.
The property is located at 1502 E Earle Street in Tyler, Texas, within Smith County. Its 7-unit configuration provides a defined multifamily layout, while the established improvements and utility connections support continued residential use.
The property is located at 1502 E Earle Street in Tyler, Texas, within Smith County. Its 7-unit configuration provides a defined multifamily layout, while the established improvements and utility connections support continued residential use.
Key Highlights
- 7‑unit apartment property
- 2,268 square feet on 0.28 acres
- Built in 1915 with wood siding and composition roof
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
$19,197
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
5.07%
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%
$383,940
$383.9K
Cap Rate 7%
$274,243
$274.2K
Cap Rate 9%
$213,300
$213.3K
Market Conditions
NOI Build-Up for 2,268 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
$36.7K $16.20/SF
− Vacancy
−$1.8K −$0.81/SF
EGI
$34.9K $15.39/SF
− OpEx
−$15.7K −$6.93/SF
NOI
$19.2K $8.46/SF
Area
Tyler, TX
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$383,940
Cap Rate 7%
$274,243
Cap Rate 9%
$213,300
Alternative Uses
Best Use
Apartment 5plus
$274.2K
$240.0K – $320.0K
NOI $19,197 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$506.2K
$442.9K – $590.6K
NOI $35,435 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,297
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?
Apartment building - Wood-sided rental property with public water and sewer, wood flooring, gas cooking, and window-unit cooling.
Where is this apartment building located?
The property is located at 1502 E Earle Street Tyler, TX.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 7‑unit apartment property; 2,268 square feet on 0.28 acres; Built in 1915 with wood siding and composition roof
