Duplex with Individual
For Sale
$420,000
319/321 Princess Place, Tyler, TX 75704
Residential Income, Tyler, TX
Property Size2,514 SF
Lot Size0.17 Acres
Price / SF$167.06
Days on Market174
Property Features for 319/321 Princess Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Garage
Window features
Blinds
Pets allowed
Yes
Interior features
Ceiling Fan
Exterior features
Irrigation System, Rain Gutters
Appliances
Electric Range, Dishwasher, Microwave, Refrigerator, Electric Cooktop
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 319/321 Princess Place.
Standard status
Active
Size
2,514 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WELLINGTON PLACE LOT 107
Tax Annual Amount
4802
Legal Description
WELLINGTON PLACE LOT 107
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2015
Floors in Building
1
Number of units
2
Flooring type
Carpet, Laminate
Building materials
Brick, Shingle Siding
Roof type
Composition
Listing Agency:
Nanci Wright Property Management
(903) 939-0863
Listed By:
Hannah Tavenner · License #0657136
(903) 360-5813
Added: Mar 3
Changed: Aug 21
Last Checked: Aug 24 at 4:06AM
MLS# 26002979
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 2,514-square-foot duplex was built in 2015 and features brick and shingle siding, separate entrances, private driveways, and individual garage spaces. Interior finishes include laminate and carpet flooring, ceiling fans, central heating, and central air with electric cooling. The property also has an irrigation system, rain gutters, a composition roof, public water, and public sewer. Appliances include an electric range, dishwasher, microwave, refrigerator, and electric cooktop.
Located at 319/321 Princess Place in Tyler, the property provides access to Tyler Pounds Regional Airport, Loop 323, Highway 31, UT Tyler, Tyler Junior College, CHRISTUS and UT Health facilities, plus shopping, dining, and retail centers. The 0.172-acre site offers a compact residential-income configuration with established utility connections.
Located at 319/321 Princess Place in Tyler, the property provides access to Tyler Pounds Regional Airport, Loop 323, Highway 31, UT Tyler, Tyler Junior College, CHRISTUS and UT Health facilities, plus shopping, dining, and retail centers. The 0.172-acre site offers a compact residential-income configuration with established utility connections.
Key Highlights
- 2,514‑square‑foot duplex on a 0.172‑acre lot
- Built in 2015 with brick and shingle siding
- Separate entrances, private driveways, and individual garage spaces
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
Property Profile
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-unit residential property with separate entrances, private driveways, individual garage spaces, and durable brick-and-stone exterior finishes.
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: 2,514‑square‑foot duplex on a 0.172‑acre lot; Built in 2015 with brick and shingle siding; Separate entrances, private driveways, and individual garage spaces
