7-Unit Apartment
For Sale
$379,000
1502 E Earle Street, Tyler, TX 75702
Commercial Sale, Tyler, TX
Property Size2,268 SF
Lot Size0.28 Acres
Price / SF$167.11
Days on Market39
Property Features for 1502 E Earle Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Inside City Limits
Directions
From Downtown Tyler - North Bonner Ave, head toward West Erwin, Turn left onto West Front St, Turn left onto South Mahon Ave, Turn left onto East Earle St. 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
Number of units
7
Building materials
Wood Siding
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: Jul 24
Changed: Aug 21
Last Checked: Aug 31 at 12:06PM
MLS# 26010273
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 apartment property contains 7 units within a 2,268-square-foot building on 0.28 acres. Built in 1915, the structure has wood siding and cooling provided by ceiling fans and window units. Public water and public sewer serve the property.
The address is in Tyler, minutes from downtown and near shopping, restaurants, entertainment, schools, parks, medical facilities, and major employers. The surrounding access to everyday services provides a broad range of nearby conveniences for residents.
The property offers a compact multifamily configuration with seven residential units and established utility connections. Its central Tyler location and existing apartment layout support continued use as a rental property.
The address is in Tyler, minutes from downtown and near shopping, restaurants, entertainment, schools, parks, medical facilities, and major employers. The surrounding access to everyday services provides a broad range of nearby conveniences for residents.
The property offers a compact multifamily configuration with seven residential units and established utility connections. Its central Tyler location and existing apartment layout support continued use as a rental property.
Key Highlights
- 7‑unit apartment property
- 2,268‑square‑foot building on 0.28 acres
- Built in 1915 with wood siding
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, public sewer, and a central Tyler setting near downtown amenities.
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‑foot building on 0.28 acres; Built in 1915 with wood siding
