New Construction Apartment
For Sale
$1,800,000
500 Mt Sylvan Street, Lindale, TX 75771
Eight two-story townhome residences offer private garages, modern kitchens, and three-bedroom layouts within a residential townhouse zoning designation.
Property Size10,080 SF
Price / SF$178.57
Days on Market504
Property Features for 500 Mt Sylvan Street
General Information
Standard status
Active
Size
10,080 SF
Total Parking Spaces
8
Property subtype
Residential Income / Quadruplex
Additional Details
Multifamily Units
8
Amenities
Central Electric, Ceiling Fan(s)
Central
Carpet, Vinyl
Electric Range, Dishwasher, Microwave, Refrigerator
Pantry
Other
Other/See Remarks
Covered
Building Details
Year Built
2025
Buildings
2
Listing Agency:
Lewis Realty
(903) 534-1320
Listed By:
Larry Lewis · License #0549725
(903) 534-1320
Source:
Compass
Added: Apr 16, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:54AM
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 Lewis Realty
Investment Insights
Based on property information with market context.
This 10,080-square-foot multifamily property comprises two fourplex buildings completed in 2025. The residences are arranged across two levels, with three bedrooms, two bathrooms, and laundry connections located upstairs. Ground-floor interiors provide an open kitchen and dining or den arrangement, along with pantry storage and contemporary finishes including granite countertops and stainless-steel appliances. Carpet and vinyl plank flooring are installed throughout, with central electric service and ceiling fans.
Each townhome includes a single-car garage and a covered patio. The property is zoned Residential Townhouse and is located at 500 Mt Sylvan Street in Lindale, Texas. Private fencing is planned for installation by the owner.
Each townhome includes a single-car garage and a covered patio. The property is zoned Residential Townhouse and is located at 500 Mt Sylvan Street in Lindale, Texas. Private fencing is planned for installation by the owner.
Key Highlights
- Two fourplex buildings with a combined 10,080 SF
- 2025 construction with two‑story townhome residences
- Each residence includes 3 bedrooms and 2 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
$75,676
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
4.20%
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%
$1,513,520
$1.5M
Cap Rate 7%
$1,081,086
$1.1M
Cap Rate 9%
$840,844
$840.8K
Market Conditions
NOI Build-Up for 10,080 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
$151.2K $15.00/SF
− Vacancy
−$13.6K −$1.35/SF
EGI
$137.6K $13.65/SF
− OpEx
−$61.9K −$6.14/SF
NOI
$75.7K $7.51/SF
Area
Smith County, TX
Vacancy
9.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,513,520
Cap Rate 7%
$1,081,086
Cap Rate 9%
$840,844
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$946.0K – $1.26M
NOI $75,676 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$7.59M
$6.64M – $8.86M
NOI $531,468 @ 7.0% cap · market cap 29.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
Demographics for 75771, TX
21,870
Population
9,241
Households
2.4
Avg Household Size
41
Median Age
29%
College-Educated
91%
High-School Grad
146.1 sq mi
ZIP Area
150
Density / Sq Mi
$90,112
Median Household Income
$48,088
Median Earnings
$1,318
Median Rent
$266,000
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?
Apartment building - Eight two-story townhome residences offer private garages, modern kitchens, and three-bedroom layouts within a residential townhouse zoning designation.
Where is this apartment building located?
The property is located at 500 Mt Sylvan Street Lindale, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Two fourplex buildings with a combined 10,080 SF; 2025 construction with two‑story townhome residences; Each residence includes 3 bedrooms and 2 bathrooms
