All-Brick Duplex with
For Sale
$362,000
3720-3722 Colony Park Dr, Tyler, TX 75703
Two residential units offer matching three-bedroom, two-bath layouts.
Property Size3,660 SF
Price / SF$98.91
Days on Market40
Property Features for 3720-3722 Colony Park Dr
General Information
Standard status
Active
Size
3,660 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
fireplace
front porch
fenced backyard
open deck
Building Details
Year Built
1970
Construction
all-brick
Listing Agency:
RE/MAX Alight
(903) 980-1800
Listed By:
Dee Martin · License #0526613
Source:
Easttxhomesforsale
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 29 at 10:37AM
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 RE/MAX Alight
Investment Insights
Based on property information with market context.
This all-brick duplex contains 3,660 square feet and was built in 1970. Each residence includes three bedrooms, two bathrooms, a living room with fireplace, dining room, utility room, and a 2-car garage. The mirrored layouts provide separate residential spaces within one building.
Exterior features include front porches, fenced backyards, and open decks. A new roof was installed in 2024, and the outdoor A/C fan was replaced in 2026. The property is located at 3720-3722 Colony Park Dr in Tyler, Texas.
Exterior features include front porches, fenced backyards, and open decks. A new roof was installed in 2024, and the outdoor A/C fan was replaced in 2026. The property is located at 3720-3722 Colony Park Dr in Tyler, Texas.
Key Highlights
- 3,660‑square‑foot duplex built in 1970
- Each unit includes 3 bedrooms and 2 bathrooms
- Two 2‑car garages, one serving 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
$33,057
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
9.13%
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%
$661,140
$661.1K
Cap Rate 7%
$472,243
$472.2K
Cap Rate 9%
$367,300
$367.3K
Market Conditions
NOI Build-Up for 3,660 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
$50.5K $13.80/SF
− Vacancy
−$3.3K −$0.90/SF
EGI
$47.2K $12.90/SF
− OpEx
−$14.2K −$3.87/SF
NOI
$33.1K $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%
$661,140
Cap Rate 7%
$472,243
Cap Rate 9%
$367,300
Alternative Uses
Best Use
Multifamily LT 5
$472.2K
$413.2K – $551.0K
NOI $33,057 @ 7.0% cap · market cap 9.13%
Second Best
Apartment 5plus
$442.6K
$387.3K – $516.3K
NOI $30,980 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$816.9K
$714.8K – $953.1K
NOI $57,183 @ 7.0% cap · market cap 15.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,180
Businesses Nearby
Explore this area
Business Placement
Demographics for 75703, TX
44,428
Population
20,045
Households
2.2
Avg Household Size
39
Median Age
43%
College-Educated
96%
High-School Grad
55.1 sq mi
ZIP Area
806
Density / Sq Mi
$76,347
Median Household Income
$45,301
Median Earnings
$1,262
Median Rent
$310,500
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 residential units offer matching three-bedroom, two-bath layouts.
Where is this duplex located?
The property is located at 3720-3722 Colony Park Dr Tyler, TX.
What is the asking price?
The asking price for this property is $362,000.
What are key features of this property?
This property features: 3,660‑square‑foot duplex built in 1970; Each unit includes 3 bedrooms and 2 bathrooms; Two 2‑car garages, one serving each unit
