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    New Multifamily Apartment Complex Title is generated by Realmo AI

    4073 County Road 152 W, Bullard, TX 75757

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    Claim this Listing
    New
    For Sale
    $4,750,000

    MULTI_FAMILY - Bullard, TX

    Property size:
    30,102 SF
    Price / SF:
    $157/SF
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 12:06 am

    Property Features for 4073 County Road 152 W

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Bedrooms
    10
    Bathrooms
    8
    Rooms
    Bedroom 9, Bathroom 2, Bathroom 4, Bathroom 6, Bedroom 1, Bathroom 1, Bathroom 7, Bedroom 5, Bathroom 8, Bedroom 4, Bedroom 3, Bedroom 7, Bedroom 10, Bedroom 6, Bathroom 5, Bedroom 8, Bedroom 2, Bathroom 3
    Appliances
    Range/Oven-Electric, Dishwasher, Microwave, Range/Oven-Electric, Dishwasher, Microwave
    Standard status
    Active
    Size
    30,102 SF

    Taxes and HOA fees

    Tax Year
    2023

    Utilities

    Sewer type
    Aerobic Septic
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    2023
    Floors in Building
    1
    Number of units
    24
    Flooring type
    Concrete
    Building materials
    New Construction, Concrete Based Siding, Common Wall
    Roof type
    Composition

    We can help!

    Listing Contact
    Michael Soape

    Listing agent Michael Soape

    Listing office Leslie Cain Realty, LLC 403 W Hubbard, Lindale, TX

    Listing date Jun 3, 2026

    MLS# 26007829 Listing URL

    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.

    HighLights

    • Under‑construction 24‑door multifamily complex, built in 2023, with the first 4 doors about 60 days from completion
    • Identical floorplans: exterior units are 3 bed / 2 bath, and interior units are 2 bed / 2 bath
    • Stained concrete flooring and high‑efficiency AC systems (central cooling, electric)
    • New construction with concrete‑based siding and common wall design; composition roof
    • Electric heating and central air; includes electric range/oven, dishwasher, and microwave appliances
    • On‑site wastewater via aerobic septic; located just off State Hwy 69 between Tyler and Bullard

    Overview

    This newly constructed 24-door multifamily apartment complex features identical floorplans across the buildings. The exterior units include 3-bedroom, 2-bath layouts, while the interior units offer 2-bedroom, 2-bath configurations. Construction is underway, with the first four doors projected to be approximately 60 days from completion. Interior finishes and building systems include stained concrete flooring and high-efficiency A/C units.

    The property is located in Bullard, Texas at 4073 County Road 152 W, within Smith County. The listing describes the site as being just off State Hwy 69 and positioned between Tyler and Bullard.

    For investors or operators seeking new construction multifamily housing, the asset’s consistent unit design can simplify leasing and operations. The mix of larger exterior 3-bedroom units and interior 2-bedroom units may support a broader household profile, while the stated high-efficiency A/C and stained concrete flooring are practical building elements for day-to-day tenant use. All information provided here is based on the supplied remarks and should be verified during due diligence.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Building Supply Auto Repair Shop Hotel & Motel HVAC Service Storage Facility Electronics & Wireless Store Bed & Breakfast Mobile Phone Store (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bullard
    County
    Smith
    State
    Texas
    Longitude
    -95.323647
    Latitude
    32.169659

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    FAQs

    What type of property is this?
    Apartment building - New 24-door multifamily complex offering identical 3BR/2BA and 2BR/2BA unit layouts.
    Where is this apartment building located?
    The property is located at 4073 County Road 152 W Bullard, TX.
    What is the asking price?
    The asking price for this property is $4,750,000.
    What are key features of this property?
    This property features: Under‑construction 24‑door multifamily complex, built in 2023, with the first 4 doors about 60 days from completion; Identical floorplans: exterior units are 3 bed / 2 bath, and interior units are 2 bed / 2 bath; Stained concrete flooring and high‑efficiency AC systems (central cooling, electric)
    (903) 520-7696
    We can help!
    Listing Contact
    Michael Soape
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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