Brick Duplex with
For Sale
$450,000
303/309 Princess Place, Tyler, TX 75704
Residential Income, Tyler, TX
Property Size2,680 SF
Price / SF$167.91
Days on Market125
Property Features for 303/309 Princess Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Garage
Pets allowed
Yes
Subdivision
Wellington Place
Elementary school
Dixie
Middle school
Boulter
High school
Tyler High
Directions
From Loop 323 in West Tyler, take Hwy 64 W. Turn right into Wellington Place, then turn right onto Princess Place. Duplex will be on the right at the end of the cul de sac of Princess Place.
Standard status
Active
Size
2,680 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
LOT 110A U-4
Legal Description
LOT 110A U-4
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2016
Number of units
2
Flooring type
Carpet, Tile - Ceramic
Building materials
Brick
Listing Agency:
Nanci Wright Property Management
(903) 939-0863
Listed By:
Hannah Tavenner · License #0657136
(903) 360-5813
Added: Apr 21
Changed: Aug 21
Last Checked: Aug 23 at 11:06AM
MLS# 26005616
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 2016 duplex contains 2,680 square feet with a brick exterior, ceramic tile and carpet flooring, central heating, and central air conditioning powered by electricity. Each side has its own entrance, private driveway, and individual garage space, creating a clearly separated two-unit configuration. Public water and sewer serve the property.
Located at 303/309 Princess Place in Tyler, the property offers access to Tyler Pounds Regional Airport, Loop 323, Highway 31, UT Tyler, Tyler Junior College, Christus, UT Health, and area shopping, dining, and retail centers. Residential development is also present nearby.
Located at 303/309 Princess Place in Tyler, the property offers access to Tyler Pounds Regional Airport, Loop 323, Highway 31, UT Tyler, Tyler Junior College, Christus, UT Health, and area shopping, dining, and retail centers. Residential development is also present nearby.
Key Highlights
- 2,680‑square‑foot duplex built in 2016
- Brick construction with ceramic tile and carpet flooring
- Separate entrances and private driveways for 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
$24,206
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
5.38%
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%
$484,120
$484.1K
Cap Rate 7%
$345,800
$345.8K
Cap Rate 9%
$268,956
$269.0K
Market Conditions
NOI Build-Up for 2,680 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
$37.0K $13.80/SF
− Vacancy
−$2.4K −$0.90/SF
EGI
$34.6K $12.90/SF
− OpEx
−$10.4K −$3.87/SF
NOI
$24.2K $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%
$484,120
Cap Rate 7%
$345,800
Cap Rate 9%
$268,956
Alternative Uses
Best Use
Multifamily LT 5
$345.8K
$302.6K – $403.4K
NOI $24,206 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$324.1K
$283.6K – $378.1K
NOI $22,685 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$598.2K
$523.4K – $697.9K
NOI $41,872 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 75704, TX
10,075
Population
4,325
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
77%
High-School Grad
66.8 sq mi
ZIP Area
151
Density / Sq Mi
$52,892
Median Household Income
$32,327
Median Earnings
$1,185
Median Rent
$136,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-unit property with separate entrances, private driveways, and individual garage spaces.
Where is this duplex located?
The property is located at 303/309 Princess Place Tyler, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,680‑square‑foot duplex built in 2016; Brick construction with ceramic tile and carpet flooring; Separate entrances and private driveways for each unit
