501 West Vance Street Tyler, TX 75702
Newly built duplex in Tyler offers modern finishes, granite countertops, and laundry closets with both units currently occupied.
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 office Keller Williams Realty-Tyler (903) 520-5152
Listing date May 24, 2026
Source Compass
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Investment Insights
Based on property information with market context.
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
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 |
