2021 Duplex with 2 Occupied
501 West Vance Street Tyler, TX 75702
For Sale
$299,900
Newly built duplex in Tyler offers modern finishes, granite countertops, and laundry closets with both units currently occupied.
Property Size2,000 SF
Price / SF$149.95
Days on Market62
Property Features for 501 West Vance Street
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Property subtype
- Multi-Family / Full Duplex
Building Details
- Year Built
- 2021
Listing Agency:
Keller Williams Realty-Tyler
(903) 520-5152
Listed By:
Karl Crawford · License #0699828
(903) 520-5152
Source:
Compass
Added: May 24
Changed: Jul 10
Last Checked: Jul 23 at 10:10AM
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.
This 2021-built duplex in Tyler offers a modern two-unit layout with a combined total of 5 bedrooms and 3.5 bathrooms. Both units are currently 100% occupied and generating monthly rental income. Interiors feature granite countertops, spacious living areas, and convenient laundry closets, providing practical everyday usability.
The property is located at 501 West Vance Street, within the Douglas Elementary, Moore Middle School, and Tyler High School attendance zones. As a newer construction investment, it is positioned for renters seeking contemporary finishes and functional floorplans.
For buyers looking for an income-producing asset with tenants already in place, this turnkey, fully leased duplex presents an opportunity to add a newer-built property to a portfolio. The unit mix, modern finishes, and in-unit laundry support are well-suited to tenants who value day-to-day convenience, while the current occupancy provides immediate operating continuity.
The property is located at 501 West Vance Street, within the Douglas Elementary, Moore Middle School, and Tyler High School attendance zones. As a newer construction investment, it is positioned for renters seeking contemporary finishes and functional floorplans.
For buyers looking for an income-producing asset with tenants already in place, this turnkey, fully leased duplex presents an opportunity to add a newer-built property to a portfolio. The unit mix, modern finishes, and in-unit laundry support are well-suited to tenants who value day-to-day convenience, while the current occupancy provides immediate operating continuity.
Key Highlights
- Duplex built in 2021 with brick veneer construction and slab foundation
- Both units are currently 100% occupied, generating monthly rental income
- Total of 5 bedrooms and 3.5 bathrooms across the duplex
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
Property Profile
Location Intelligence
Current Use by Public Records
Duplex
Condominium Complex
FAQs
What type of property is this?
Duplex - Newly built duplex in Tyler offers modern finishes, granite countertops, and laundry closets with both units currently occupied.
Where is this duplex located?
The property is located at 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 brick veneer construction and slab foundation; Both units are currently 100% occupied, generating monthly rental income; Total of 5 bedrooms and 3.5 bathrooms across the duplex
