Apartment Complex with Private
For Sale
$2,699,000
307 N Henry St, Lindale, TX 75771
Recently constructed multifamily property with varied floor plans, fenced outdoor areas, and full occupancy.
Property Size16,890 SF
Price / SF$159.80
Days on Market170
Property Features for 307 N Henry St
General Information
Standard status
Active
Size
16,890 SF
Property subtype
Commercial
Occupancy
100%
Units
Unit Mix
11 x 2BR/2.5BA, 4 x 1BR/1.5BA
Multifamily Units
15
Additional Details
Highway Access
Yes
Amenities
private fenced backyard area
Building Details
Year Built
2020
Buildings
2
Listing Agency:
Keller Williams Realty-Tyler
Listed By:
Haden Riggs · License #0670076
(817) 795-2500
Source:
Easttxhomesforsale
Added: Apr 29
Changed: Oct 1
Last Checked: Oct 14 at 11:16PM
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 Keller Williams Realty-Tyler
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Investment Insights
Based on property information with market context.
Built in 2020, this apartment property at 307 N Henry Street includes two buildings and 15 units. The configuration comprises eleven two-bedroom, 2.5-bath residences measuring 1,160 square feet and four one-bedroom, 1.5-bath residences measuring 900 square feet. Each unit has a contemporary interior layout and a private fenced backyard. Tenants are responsible for all utilities, while current occupancy stands at 100 percent.
The property is located in Lindale and falls within the Lindale school district. Shopping, dining, and other amenities are described as nearby, with access to Tyler and I-20 supporting travel to surrounding cities.
The property is located in Lindale and falls within the Lindale school district. Shopping, dining, and other amenities are described as nearby, with access to Tyler and I-20 supporting travel to surrounding cities.
Key Highlights
- 15 units across two buildings, built in 2020
- 100% occupied with tenants paying all utilities
- Eleven 2‑bedroom, 2.5‑bath units at 1,160 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,802
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,536,040
$2.5M
Cap Rate 7%
$1,811,457
$1.8M
Cap Rate 9%
$1,408,911
$1.4M
Market Conditions
NOI Build-Up for 16,890 SF
Gross rent
$253.4K $15.00/SF
− Vacancy
−$22.8K −$1.35/SF
EGI
$230.5K $13.65/SF
− OpEx
−$103.7K −$6.14/SF
NOI
$126.8K $7.51/SF
Area
Smith County, TX
Vacancy
9.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,536,040
Cap Rate 7%
$1,811,457
Cap Rate 9%
$1,408,911
Alternative Uses
Best Use
Apartment 5plus
$1.81M
$1.59M – $2.11M
NOI $126,802 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$12.72M
$11.13M – $14.84M
NOI $890,525 @ 7.0% cap · market cap 32.99%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
15
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
Explore this area
Business Placement
Demographics for 75771, TX
21,870
Population
9,241
Households
2.4
Avg Household Size
41
Median Age
29%
College-Educated
91%
High-School Grad
146.1 sq mi
ZIP Area
150
Density / Sq Mi
$90,112
Median Household Income
$48,088
Median Earnings
$1,318
Median Rent
$266,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Recently constructed multifamily property with varied floor plans, fenced outdoor areas, and full occupancy.
Where is this apartment building located?
The property is located at 307 N Henry St Lindale, TX.
What is the asking price?
The asking price for this property is $2,699,000.
What are key features of this property?
This property features: 15 units across two buildings, built in 2020; 100% occupied with tenants paying all utilities; Eleven 2‑bedroom, 2.5‑bath units at 1,160 square feet
