Duplex with Individual
For Sale
$420,000
319-321 Princess Place, Tyler, TX 75704
Two separate residences offer private driveways, distinct entrances, and individual garage spaces.
Property Size2,514 SF
Price / SF$167.06
Days on Market195
Property Features for 319-321 Princess Place
General Information
Standard status
Active
Size
2,514 SF
Property subtype
Multi Family
Zoning
Residential Townhouse
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
1 Story
Central Electric
Carpet, Laminate
Ceiling Fan, Blinds, Smoke Alarm
Range/Oven-Electric, Dishwasher, Microwave, Refrigerator, Cooktop-Electric
Composition
Wood Fence
Patio Covered, Sprinkler System, Gutter(s)
Slab
Brick and Wood, Shingles
Building Details
Year Built
2015
Units
2
Listing Agency:
Nanci Wright Property Management
(903) 360-5813
Listed By:
Hannah Tavenner · License #0657136
Source:
Compass
Added: Feb 18
Changed: Aug 31
Last Checked: Aug 31 at 10:01PM
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 Nanci Wright Property Management
Investment Insights
Based on property information with market context.
Located at 319-321 Princess Place in Tyler, this duplex contains 2514 square feet across a one-story layout. The property was built in 2015 and features brick and wood exterior construction with composition shingle roofing. Each side has its own entrance, driveway, and garage space, while covered patios, wood fencing, gutters, and a sprinkler system add to the exterior improvements. Interior features include central electric service, ceiling fans, blinds, smoke alarms, carpet, and laminate flooring. Kitchens are equipped with electric ranges or cooktops, dishwashers, microwaves, and refrigerators.
The property is zoned Residential Townhouse and includes a slab foundation. Its duplex configuration supports separate residential occupancy within the same building, with practical amenities serving each side independently.
The property is zoned Residential Townhouse and includes a slab foundation. Its duplex configuration supports separate residential occupancy within the same building, with practical amenities serving each side independently.
Key Highlights
- 2514 square feet in a duplex configuration
- Built in 2015
- Individual garage spaces, private driveways, and separate entrances
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
$22,707
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
5.41%
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%
$454,140
$454.1K
Cap Rate 7%
$324,386
$324.4K
Cap Rate 9%
$252,300
$252.3K
Market Conditions
NOI Build-Up for 2,514 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
$34.7K $13.80/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$32.4K $12.90/SF
− OpEx
−$9.7K −$3.87/SF
NOI
$22.7K $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%
$454,140
Cap Rate 7%
$324,386
Cap Rate 9%
$252,300
Alternative Uses
Best Use
Multifamily LT 5
$324.4K
$283.8K – $378.5K
NOI $22,707 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$304.0K
$266.0K – $354.7K
NOI $21,280 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$561.1K
$491.0K – $654.6K
NOI $39,278 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
74
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer private driveways, distinct entrances, and individual garage spaces.
Where is this duplex located?
The property is located at 319-321 Princess Place Tyler, TX.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 2514 square feet in a duplex configuration; Built in 2015; Individual garage spaces, private driveways, and separate entrances
