Fully Occupied
For Sale
$310,000
2302-2304 Aberdeen Drive, Tyler, TX 75703
Two three-bedroom units offer practical layouts with bedrooms and full bathrooms on the main level.
Property Size3,020 SF
Price / SF$102.65
Days on Market120
Property Features for 2302-2304 Aberdeen Drive
General Information
Standard status
Active
Size
3,020 SF
Property subtype
Multi Family
Zoning
Residential Townhouse
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
Central Electric
Central Gas
Wood Burning
Slab
Wood/ Frame
Building Details
Year Built
1976
Buildings
1
Units
2
Listing Agency:
Leslie Cain Realty, LLC
(903) 217-6168
Listed By:
Ken Sheppa · License #0701586
Source:
Compass
Added: May 4
Changed: Aug 31
Last Checked: Aug 31 at 12:00AM
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 3,020-square-foot duplex, built in 1976, contains two units with three bedrooms and two full bathrooms each. Both residences include a bedroom and full bathroom on the main level, along with more than 1,500 square feet per unit. The property is fully occupied and features central electric, central gas, wood-burning fireplaces, slab construction, and wood-frame construction.
The property is located in Tyler near TJC, downtown, shopping, dining, and the hospital district. It is zoned Residential Townhouse and is available individually or as part of a package with 2226/2228 Aberdeen, which would combine two duplexes and four units.
The property is located in Tyler near TJC, downtown, shopping, dining, and the hospital district. It is zoned Residential Townhouse and is available individually or as part of a package with 2226/2228 Aberdeen, which would combine two duplexes and four units.
Key Highlights
- Fully occupied duplex with 2 three‑bedroom, two‑bathroom units
- 3,020 SF total; each unit offers more than 1,500 square feet
- Main‑level bedroom and full bathroom in 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
$27,277
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
8.80%
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%
$545,540
$545.5K
Cap Rate 7%
$389,671
$389.7K
Cap Rate 9%
$303,078
$303.1K
Market Conditions
NOI Build-Up for 3,020 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
$41.7K $13.80/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$39.0K $12.90/SF
− OpEx
−$11.7K −$3.87/SF
NOI
$27.3K $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%
$545,540
Cap Rate 7%
$389,671
Cap Rate 9%
$303,078
Alternative Uses
Best Use
Multifamily LT 5
$389.7K
$341.0K – $454.6K
NOI $27,277 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$365.2K
$319.5K – $426.1K
NOI $25,563 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$674.1K
$589.8K – $786.4K
NOI $47,184 @ 7.0% cap · market cap 15.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
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 three-bedroom units offer practical layouts with bedrooms and full bathrooms on the main level.
Where is this duplex located?
The property is located at 2302-2304 Aberdeen Drive Tyler, TX.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Fully occupied duplex with 2 three‑bedroom, two‑bathroom units; 3,020 SF total; each unit offers more than 1,500 square feet; Main‑level bedroom and full bathroom in each unit
