Newer Duplex Investment
429-501 West Vance Street Tyler, TX 75702
429-501 West Vance Street, Tyler, TX, 75702
$299,900
For Sale
$299,900
Built in 2021, this duplex includes two 100% occupied units with granite countertops and laundry closets.
Property Size2,000 SF
Price / SF$149.95
Days on Market78
Property Features for 429-501 West Vance Street
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 2021
Listing agency
Keller Williams Realty-Tyler
(972) 874-1905
Listed by
Karl Crawford · License #0699828
Source
Compass
Added: May 5 Updated: Jul 21 at 2:31AM Checked: Jul 21 at 6:03AM
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 Keller Williams Realty-Tyler
Investment Insights
Based on property information with market context.
Built in 2021, this duplex is a newer construction residential income property with two units. The combined layout provides five bedrooms and 3.5 bathrooms. Each unit features granite countertops, spacious living areas, and a dedicated laundry closet.
The property is located in Tyler, Texas at 429–501 West Vance Street. It is within the Douglas Elementary, Moore Middle School, and Tyler High School attendance zones.
With both units currently 100% occupied, the duplex presents a fully leased configuration for an owner seeking an income-producing property.
The property is located in Tyler, Texas at 429–501 West Vance Street. It is within the Douglas Elementary, Moore Middle School, and Tyler High School attendance zones.
With both units currently 100% occupied, the duplex presents a fully leased configuration for an owner seeking an income-producing property.
Key Highlights
- Duplex built in 2021 with both units 100% occupied and generating monthly rental income
- Total of 5 bedrooms and 3.5 bathrooms across two units
- Kitchen amenities in both units include granite countertops and appliances such as range/oven, dishwasher, microwave, and refrigerator
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.6k | $13.80 |
| − Vacancy | −$1.8k | −$0.90 |
| EGI | $25.8k | $12.90 |
| − OpEx | −$7.7k | −$3.87 |
| NOI | $18.1k | $9.03 |
2,000 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Built in 2021, this duplex includes two 100% occupied units with granite countertops and laundry closets.
Where is this duplex located?
The property is located at 429-501 West Vance Street 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: Duplex built in 2021 with both units 100% occupied and generating monthly rental income; Total of 5 bedrooms and 3.5 bathrooms across two units; Kitchen amenities in both units include granite countertops and appliances such as range/oven, dishwasher, microwave, and refrigerator
