Brick
For Sale
$299,900
429/501 W Vance, Tyler, TX 75702
Residential Income, Tyler, TX
Property Size2,000 SF
Lot Size0.19 Acres
Price / SF$149.95
Days on Market90
Property Features for 429/501 W Vance
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Security features
Security Lighting
Window features
Blinds
Interior features
Ceiling Fan
Exterior features
Rain Gutters
Appliances
Electric Range, Free-Standing Range, Dishwasher, Microwave, Refrigerator
Subdivision
Sol Katz
Elementary school
Douglas
Middle school
Moore
High school
Tyler High
Directions
From Gentry Prky, North on Bois D Arc., Left on W Vance, Duplex on Right
Standard status
Active
Size
2,000 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
SOL KATZ BLOCK 434-B LOT 32
Tax Annual Amount
4697
Legal Description
SOL KATZ BLOCK 434-B LOT 32
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric, Central Air, Ceiling Fan(s)
Water source
Public
Amenities
granite countertops
laundry closets
Building Details
Year built
2021
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Wood
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Realty-Tyler
(903) 534-6600
Listed By:
Karl Crawford · License #0699828
(903) 520-5152
Added: Jun 1
Changed: Aug 29
Last Checked: Aug 29 at 7:06PM
MLS# 26007660
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 duplex contains 2,000 square feet on a 0.19-acre lot and was built in 2021. The property includes five bedrooms and 3.5 bathrooms across both units, with granite countertops, living areas, laundry closets, vinyl and wood flooring, brick construction, and composition roofing. Electric ranges, dishwashers, microwaves, and refrigerators are included. Central heating and central air support year-round comfort, while public water and public sewer serve the property.
Both units are 100% occupied. The property is located at 429/501 W Vance in Tyler, Texas, within the Douglas Elementary, Moore Middle School, and Tyler High School attendance zones. Additional features include rain gutters, ceiling fans, and on-site electric appliance service.
Both units are 100% occupied. The property is located at 429/501 W Vance in Tyler, Texas, within the Douglas Elementary, Moore Middle School, and Tyler High School attendance zones. Additional features include rain gutters, ceiling fans, and on-site electric appliance service.
Key Highlights
- 2021 construction with 2,000 square feet of building area
- Two units are 100% occupied
- Combined layout includes 5 bedrooms and 3.5 bathrooms
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
$18,064
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
6.02%
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%
$361,280
$361.3K
Cap Rate 7%
$258,057
$258.1K
Cap Rate 9%
$200,711
$200.7K
Market Conditions
NOI Build-Up for 2,000 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
$27.6K $13.80/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$25.8K $12.90/SF
− OpEx
−$7.7K −$3.87/SF
NOI
$18.1K $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%
$361,280
Cap Rate 7%
$258,057
Cap Rate 9%
$200,711
Alternative Uses
Best Use
Multifamily LT 5
$258.1K
$225.8K – $301.1K
NOI $18,064 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$241.8K
$211.6K – $282.2K
NOI $16,929 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$446.4K
$390.6K – $520.8K
NOI $31,247 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Explore this area
Business Placement
Demographics for 75702, TX
26,777
Population
10,273
Households
2.6
Avg Household Size
32
Median Age
8%
College-Educated
72%
High-School Grad
14.1 sq mi
ZIP Area
1,899
Density / Sq Mi
$51,177
Median Household Income
$30,399
Median Earnings
$906
Median Rent
$99,700
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 - Fully occupied two-unit property with granite countertops, laundry closets, and central heating and cooling.
Where is this duplex located?
The property is located at 429/501 W Vance Tyler, TX.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2021 construction with 2,000 square feet of building area; Two units are 100% occupied; Combined layout includes 5 bedrooms and 3.5 bathrooms
