Updated Duplex with Two-Car
For Sale
$499,900
604-606 Woodland Hills Drive, Tyler, TX 75701
Two spacious residences offer updated interiors, open living areas, generous kitchens, and shared outdoor space.
Property Size4,400 SF
Price / SF$113.61
Days on Market397
Property Features for 604-606 Woodland Hills Drive
General Information
Standard status
Active
Size
4,400 SF
Total Parking Spaces
4
Property subtype
Multi Family
Zoning
Single Family, Two Family Dwelling
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
covered front porch
shared outdoor flex area
1 Story
Central Electric
Central Gas
Vinyl
Ceiling Fan, Blinds, Smoke Alarm
Wood Burning
Range/Oven-Electric, Dishwasher, Disposal, Pantry
Composition
Concrete
Courtyard
Slab
Brick and Wood
Building Details
Year Built
1978
Buildings
1
Units
2
Construction
brick
Listing Agency:
Texas Lane Realty
(903) 522-9009
Listed By:
Jennifer Phillips · License #0654033
Source:
Compass
Added: Aug 1, 2025
Changed: Aug 31
Last Checked: Aug 30 at 4:12AM
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 Texas Lane Realty
Investment Insights
Based on property information with market context.
This 4,400-square-foot duplex contains two residences, each with three bedrooms, two full bathrooms, an open living area, and a generous kitchen equipped with an electric range, dishwasher, disposal, and pantry. Both units include abundant closet storage and a two-car garage. The property was built in 1978 and features brick-and-wood exterior construction, covered front porches, central electric and gas service, vinyl flooring, ceiling fans, blinds, smoke alarms, and wood-burning fireplaces.
A shared outdoor flex area sits between the units, creating additional common space. The duplex is located at 604-606 Woodland Hills Drive in Tyler’s Woodland Hills neighborhood, on a quiet street surrounded by single-family residences and other duplexes. Shopping, dining, and medical districts are described as minutes away. One side is leased through the end of the year, while the other may offer owner-occupancy flexibility subject to applicable lease and occupancy terms. Zoning is identified as Single Family, Two Family Dwelling.
A shared outdoor flex area sits between the units, creating additional common space. The duplex is located at 604-606 Woodland Hills Drive in Tyler’s Woodland Hills neighborhood, on a quiet street surrounded by single-family residences and other duplexes. Shopping, dining, and medical districts are described as minutes away. One side is leased through the end of the year, while the other may offer owner-occupancy flexibility subject to applicable lease and occupancy terms. Zoning is identified as Single Family, Two Family Dwelling.
Key Highlights
- 4,400‑square‑foot duplex with two 3‑bedroom, 2‑bathroom units
- Each unit includes a two‑car garage and generous closet storage
- Updated interiors with open living areas and well‑equipped kitchens
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
$39,741
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
7.95%
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%
$794,820
$794.8K
Cap Rate 7%
$567,729
$567.7K
Cap Rate 9%
$441,567
$441.6K
Market Conditions
NOI Build-Up for 4,400 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
$60.7K $13.80/SF
− Vacancy
−$3.9K −$0.90/SF
EGI
$56.8K $12.90/SF
− OpEx
−$17.0K −$3.87/SF
NOI
$39.7K $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%
$794,820
Cap Rate 7%
$567,729
Cap Rate 9%
$441,567
Alternative Uses
Best Use
Multifamily LT 5
$567.7K
$496.8K – $662.4K
NOI $39,741 @ 7.0% cap · market cap 7.95%
Second Best
Apartment 5plus
$532.1K
$465.6K – $620.7K
NOI $37,244 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$982.1K
$859.3K – $1.15M
NOI $68,744 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,114
Businesses Nearby
Explore this area
Business Placement
Demographics for 75701, TX
34,502
Population
14,630
Households
2.4
Avg Household Size
35
Median Age
29%
College-Educated
89%
High-School Grad
14.1 sq mi
ZIP Area
2,447
Density / Sq Mi
$62,091
Median Household Income
$29,448
Median Earnings
$1,250
Median Rent
$190,500
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 - Two spacious residences offer updated interiors, open living areas, generous kitchens, and shared outdoor space.
Where is this duplex located?
The property is located at 604-606 Woodland Hills Drive Tyler, TX.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 4,400‑square‑foot duplex with two 3‑bedroom, 2‑bathroom units; Each unit includes a two‑car garage and generous closet storage; Updated interiors with open living areas and well‑equipped kitchens
