15-Unit Apartment
307 N Henry Street, Lindale, TX 75771
For Sale
$2,699,000
Commercial Sale, Lindale, TX
Property Size16,890 SF
Lot Size0.54 Acres
Price / SF$159.80
Days on Market199
Property Features for 307 N Henry Street
General Information
Property type
Property subtype
Fencing
Lot features
Directions
Standard status
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
private fenced backyard
Building Details
Year built
Number of units
Building materials
Buildings
Listing Agency:
Keller Williams Realty-Tyler
(903) 534-6600
Listed By:
Haden Riggs · License TX #0670076
(903) 780-8006
Added: Apr 30
Changed: Nov 3
Last Checked: Nov 14 at 12:06AM
MLS# 26006114
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.
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Investment Insights
Based on property information with market context.
Built in 2020, this apartment property contains two buildings and 15 units totaling 16,890 square feet. The mix includes eleven two-bedroom, 2.5-bath residences measuring 1,160 square feet and four one-bedroom, 1.5-bath residences measuring 900 square feet. Units feature contemporary interiors, open layouts, and private fenced backyard areas. Central heating and central air conditioning serve the residences, with electric cooling also identified.
The property is fully occupied, and tenants pay all utilities. It sits on 0.539 acres at 307 N Henry Street in Lindale, within the Lindale school district. Public water and public sewer serve the complex, while metal siding and perimeter fencing are among the documented property features. Access to Tyler and I-20 is available for regional travel, with shopping, dining, and other amenities described as nearby.
The property is fully occupied, and tenants pay all utilities. It sits on 0.539 acres at 307 N Henry Street in Lindale, within the Lindale school district. Public water and public sewer serve the complex, while metal siding and perimeter fencing are among the documented property features. Access to Tyler and I-20 is available for regional travel, with shopping, dining, and other amenities described as nearby.
Key Highlights
- 15 units across two buildings, totaling 16,890 square feet
- Unit mix includes eleven 2 bed, 2.5 bath units at 1,160 sq ft and four 1 bed, 1.5 bath units at 900 sq ft
- 100% occupied with tenants paying all utilities
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
Specialty Retail
$4.33M
$3.79M – $5.05M
NOI $302,901 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
15
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
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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
$266,000
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Smith County, TX
Properties on Market for Apartment buildings in Smith County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-building multifamily property with private fenced backyard areas and central heating and cooling.
Where is this apartment building located?
The property is located at 307 N Henry Street 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, totaling 16,890 square feet; Unit mix includes eleven 2 bed, 2.5 bath units at 1,160 sq ft and four 1 bed, 1.5 bath units at 900 sq ft; 100% occupied with tenants paying all utilities
