Multifamily
For Sale
$849,500
802 W Second, Tyler, TX 75701
Established multifamily asset with a limited owner expense profile for lawn maintenance and repairs.
Property Size8,952 SF
Price / SF$94.89
Days on Market88
Property Features for 802 W Second
General Information
Standard status
Active
Size
8,952 SF
Property subtype
Multi-Family
Building Details
Year Built
1950
Listing Agency:
Gregory Realty
Listed By:
Cindy Gregory · License #0159677
(903) 581-5575
Source:
Easttxhomesforsale
Added: Jul 24
Changed: Oct 1
Last Checked: Oct 19 at 6:46AM
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 Gregory Realty
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Investment Insights
Based on property information with market context.
This multifamily property at 802 W Second in Tyler, Texas, contains 8,952 square feet and was built in 1950. The stated owner responsibilities are lawn maintenance and repairs; utilities are not included among those expenses.
The property is offered for sale and is classified as a multifamily asset. Its established construction date and defined expense responsibilities provide core details for evaluating the property alongside its operating and physical information.
The property is offered for sale and is classified as a multifamily asset. Its established construction date and defined expense responsibilities provide core details for evaluating the property alongside its operating and physical information.
Key Highlights
- 8,952‑square‑foot multifamily property
- Built in 1950
- Located at 802 W Second, Tyler, TX 75701
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,774
Cap Rate
8.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,515,480
$1.5M
Cap Rate 7%
$1,082,486
$1.1M
Cap Rate 9%
$841,933
$841.9K
Market Conditions
NOI Build-Up for 8,952 SF
Gross rent
$145.0K $16.20/SF
− Vacancy
−$7.3K −$0.81/SF
EGI
$137.8K $15.39/SF
− OpEx
−$62.0K −$6.93/SF
NOI
$75.8K $8.46/SF
Area
Tyler, TX
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,515,480
Cap Rate 7%
$1,082,486
Cap Rate 9%
$841,933
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$947.2K – $1.26M
NOI $75,774 @ 7.0% cap · market cap 8.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,863 @ 7.0% cap · market cap 16.46%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
646
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Established multifamily asset with a limited owner expense profile for lawn maintenance and repairs.
Where is this multifamily property located?
The property is located at 802 W Second Tyler, TX.
What is the asking price?
The asking price for this property is $849,500.
What are key features of this property?
This property features: 8,952‑square‑foot multifamily property; Built in 1950; Located at 802 W Second, Tyler, TX 75701
