Three-Bedroom
New
For Sale
$324,900
2783 N Grand, Tyler, TX 75702
Completed in 2008, the property is near shopping, restaurants, and schools.
Property Size2,394 SF
Price / SF$135.71
Days on Market4
Property Features for 2783 N Grand
General Information
Standard status
Active
Size
2,394 SF
Property subtype
Multi-Family
Building Details
Year Built
2008
Tenancy
Multi
Listing Agency:
Mora Realty Group, LLC
Listed By:
Brad Newberry · License #0526613
(903) 780-8015
Source:
Newberryre
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 7:13AM
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 Mora Realty Group, LLC
Investment Insights
Based on property information with market context.
This duplex contains 2,394 square feet and is described as having three bedrooms and two bathrooms. Construction was completed in 2008.
Shopping, dining, schools, and other everyday services are nearby. The property is located in Tyler, Texas.
Shopping, dining, schools, and other everyday services are nearby. The property is located in Tyler, Texas.
Key Highlights
- 2,394‑square‑foot duplex
- Three bedrooms and two bathrooms
- Built in 2008
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
$21,623
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
6.66%
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%
$432,460
$432.5K
Cap Rate 7%
$308,900
$308.9K
Cap Rate 9%
$240,256
$240.3K
Market Conditions
NOI Build-Up for 2,394 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
$33.0K $13.80/SF
− Vacancy
−$2.1K −$0.90/SF
EGI
$30.9K $12.90/SF
− OpEx
−$9.3K −$3.87/SF
NOI
$21.6K $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%
$432,460
Cap Rate 7%
$308,900
Cap Rate 9%
$240,256
Alternative Uses
Best Use
Multifamily LT 5
$308.9K
$270.3K – $360.4K
NOI $21,623 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$289.5K
$253.3K – $337.7K
NOI $20,264 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$534.3K
$467.5K – $623.4K
NOI $37,403 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
114
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Completed in 2008, the property is near shopping, restaurants, and schools.
Where is this duplex located?
The property is located at 2783 N Grand Tyler, TX.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: 2,394‑square‑foot duplex; Three bedrooms and two bathrooms; Built in 2008
