Duplex with Private
New
For Sale
$379,900
3960 Cottage Dr, Tyler, TX 75701
Residential Income, Tyler, TX
Property Size2,392 SF
Lot Size0.14 Acres
Price / SF$158.82
Days on Market2
Property Features for 3960 Cottage Dr
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Garage
Subdivision
WESTMINSTER COTTAGES
Elementary school
Clarkston
Middle school
Hubbard
High school
Tyler Legacy
Directions
From the intersection of Loop 323 & McDonald Rd, Go EAST on McDonald Road, Take a RIGHT at the dead end onto Cottage Dr, the unit will be on the RIGHT at the end of the road
Standard status
Active
Size
2,392 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WESTMINSTER COTTAGES BLOCK 1080-K LOT 21A
Tax Annual Amount
5828
Legal Description
WESTMINSTER COTTAGES BLOCK 1080-K LOT 21A
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
open concept kitchen
granite countertops
appliances
fenced private yard
covered porch
washer/dryer connections
Building Details
Year built
2013
Number of units
2
Building materials
Brick, Siding
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Richard Breeze · License #0830164
(214) 502-9887
Added: Sep 26
Last Checked: Sep 27 at 12:06PM
MLS# 26013245
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.
Built in 2013, this 2,392-square-foot duplex contains two residences on a 0.14-acre parcel. Each has an open kitchen with granite counters and appliances, along with living and bedroom space. Private fenced yards and covered porches provide outdoor areas, while single-car garages include washer and dryer connections. Brick and siding form the exterior; the property has central heating and central air conditioning.
The property is near the Hospital District, less than one mile from UT Tyler and two miles from TJC. Public water and sewer serve the site.
The property is near the Hospital District, less than one mile from UT Tyler and two miles from TJC. Public water and sewer serve the site.
Key Highlights
- Two‑unit duplex with 2,392 square feet of building area
- 0.14‑acre site; built in 2013
- Each residence has an open kitchen, granite countertops, and appliances
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
$21,605
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
5.69%
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%
$432,100
$432.1K
Cap Rate 7%
$308,643
$308.6K
Cap Rate 9%
$240,056
$240.1K
Market Conditions
NOI Build-Up for 2,392 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
$33.0K $13.80/SF
− Vacancy
−$2.1K −$0.90/SF
EGI
$30.9K $12.90/SF
− OpEx
−$9.3K −$3.87/SF
NOI
$21.6K $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%
$432,100
Cap Rate 7%
$308,643
Cap Rate 9%
$240,056
Alternative Uses
Best Use
Multifamily LT 5
$308.6K
$270.1K – $360.1K
NOI $21,605 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$289.2K
$253.1K – $337.5K
NOI $20,247 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$533.9K
$467.2K – $622.9K
NOI $37,372 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
Explore this area
Business Placement
Demographics for 75701, TX
34,502
Population
14,630
Households
2.4
Avg Household Size
35
Median Age
29%
College-Educated
89%
High-School Grad
14.1 sq mi
ZIP Area
2,447
Density / Sq Mi
$62,091
Median Household Income
$29,448
Median Earnings
$1,250
Median Rent
$190,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Both residences include covered porches and garage parking.
Where is this duplex located?
The property is located at 3960 Cottage Dr Tyler, TX.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,392 square feet of building area; 0.14‑acre site; built in 2013; Each residence has an open kitchen, granite countertops, and appliances
