Four-Unit Duplex
For Sale
$605,000
2228 Aberdeen Drive Unit 2226, Tyler, TX 75703
Two neighboring buildings provide four residential units with three-bedroom layouts and two full baths.
Property Size6,040 SF
Price / SF$100.17
Days on Market122
Property Features for 2228 Aberdeen Drive Unit 2226
General Information
Standard status
Active
Size
6,040 SF
Total Parking Spaces
1
Property subtype
Multi-Family / Full Duplex
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Amenities
Central Air, Electric
Central, Fireplace(s)
Carpet
Dishwasher, Electric Range
Other
No
Composition
Two
2
Slab
Public Records
4
Brick
Building Details
Year Built
1976
Buildings
2
Listing Agency:
Leslie Cain Realty, LLC
(903) 217-6168
Listed By:
Ken Sheppa · License #0701586
Source:
Compass
Added: May 2
Changed: Aug 30
Last Checked: Aug 30 at 3:06PM
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 Leslie Cain Realty, LLC
Investment Insights
Based on property information with market context.
This property includes two adjacent duplex buildings totaling four residential units and 6,040 square feet. Each unit offers 3 bedrooms, 2 full bathrooms, and more than 1,500 square feet, with one bedroom and one full bathroom located on the main level. Interior features include central air, electric heating, fireplaces, dishwashers, and electric ranges. The buildings were constructed in 1976, and the 2226-2228 units have received new flooring and fresh paint.
The 2302-2304 units are occupied by long-term renters. The property is located near TJC, downtown Tyler, shopping, dining, and the medical district, placing everyday services and employment-related destinations within a short drive.
The 2302-2304 units are occupied by long-term renters. The property is located near TJC, downtown Tyler, shopping, dining, and the medical district, placing everyday services and employment-related destinations within a short drive.
Key Highlights
- Two neighboring duplex buildings with 4 total units
- Each unit includes 3 bedrooms, 2 full bathrooms, and more than 1,500 square feet
- Combined property size of 6,040 square feet
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
$54,554
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
9.02%
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%
$1,091,080
$1.1M
Cap Rate 7%
$779,343
$779.3K
Cap Rate 9%
$606,156
$606.2K
Market Conditions
NOI Build-Up for 6,040 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
$83.4K $13.80/SF
− Vacancy
−$5.4K −$0.90/SF
EGI
$77.9K $12.90/SF
− OpEx
−$23.4K −$3.87/SF
NOI
$54.6K $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%
$1,091,080
Cap Rate 7%
$779,343
Cap Rate 9%
$606,156
Alternative Uses
Best Use
Multifamily LT 5
$779.3K
$681.9K – $909.2K
NOI $54,554 @ 7.0% cap · market cap 9.02%
Second Best
Apartment 5plus
$730.4K
$639.1K – $852.1K
NOI $51,126 @ 7.0% cap · market cap 8.45%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,367 @ 7.0% cap · market cap 15.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
Explore this area
Business Placement
Demographics for 75703, TX
44,428
Population
20,045
Households
2.2
Avg Household Size
39
Median Age
43%
College-Educated
96%
High-School Grad
55.1 sq mi
ZIP Area
806
Density / Sq Mi
$76,347
Median Household Income
$45,301
Median Earnings
$1,262
Median Rent
$310,500
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 - Two neighboring buildings provide four residential units with three-bedroom layouts and two full baths.
Where is this duplex located?
The property is located at 2228 Aberdeen Drive Unit 2226 Tyler, TX.
What is the asking price?
The asking price for this property is $605,000.
What are key features of this property?
This property features: Two neighboring duplex buildings with 4 total units; Each unit includes 3 bedrooms, 2 full bathrooms, and more than 1,500 square feet; Combined property size of 6,040 square feet
