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    Multifamily Property in Bullard, Texas Title is generated by Realmo AI

    20337 Fm 2493, Bullard, TX 75757

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    For Sale
    $850,000

    Five-unit multifamily property on one acre in Bullard, Texas.

    Type:Commercial/Industrial
    Property size:
    5,542 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $153/SF
    Added:
    Mar 24, 2026
    Days on Market:
    58
    Last Refresh:
    Feb 10 at 9:50 am

    Property Features for 20337 Fm 2493

    General Information

    Standard status
    Active
    Size
    5,542 SF
    Lot size
    1.00 Acre
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    2021

    We can help!

    Listing Contact
    Lacy Turner

    Listing agent Lacy Turner License #0725509

    Listing office Platinum Realty Group Tyler

    Listing date Mar 24, 2026

    Source Exitrealty

    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 Platinum Realty Group Tyler

    HighLights

    • Multi‑family property (Duplex & Triplex) in a sought‑after East Texas town.
    • 100% occupancy rate.
    • Unit 20337 (Duplex) completely renovated May 2025.
    • Triplex built in 2022.
    • Upgraded appliances (including washer & dryer) in all units.
    • Individual privacy fences for each unit.

    Overview

    This multifamily property is located in Bullard, Texas, and includes a duplex and a triplex situated on one acre. The duplex features two units, each with three bedrooms and two bathrooms, and 1275 square feet of living space. Unit 20337 is scheduled for complete renovation in May 2025. The triplex, constructed in 2022, consists of three units, each with two bedrooms and two bathrooms, and 1,036 square feet of living space. The triplex units feature a floorplan, granite countertops, farmhouse sink, and covered front and back patios. Both the front and back yards have aerobic sprinkler systems. All units are equipped with upgraded appliances, including a washer and dryer, and have individual privacy fences in the backyard. New septic tanks and lines have been installed. A concrete parking slab provides two parking spots per unit. The property includes a common space area for tenants. The property is 100% occupied.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Spa & Massage Center Hair Salon Gym & Fitness Center Big Box & Wholesale Store Skin Care Clinic Kitchen & Bath Showroom Electronics & Wireless Store Electrical Service Storage Facility Tech Support Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bullard
    County
    Smith
    State
    Texas
    Longitude
    -95.34464
    Latitude
    32.18438

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit multifamily property on one acre in Bullard, Texas.
    Where is this multifamily property located?
    The property is located at 20337 Fm 2493 Bullard, TX.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: Multi‑family property (Duplex & Triplex) in a sought‑after East Texas town.; 100% occupancy rate.; **Unit 20337 (Duplex) completely renovated May 2025.**
    (903) 710-2076
    We can help!
    Listing Contact
    Lacy Turner
    Real Estate License ID: 0725509
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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