Triplex with Private
831 West Houston Street Tyler, TX 75702
831 West Houston Street, Tyler, TX, 75702
$449,000
For Sale
$449,000
Well-maintained triplex includes two updated main units and a private 1-bedroom cottage with separate kitchen and bathroom.
Property Size2,966 SF
Price / SF$151.38
Days on Market13
Property Features for 831 West Houston Street
General Information
- Standard status
- Active
- Size
- 2,966 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1932
Listing agency
Better Homes & Gardens Real Estate I-20 Team
(903) 881-0500
Listed by
Jeremey Bernard · License #0724140
Source
Compass
Added: Jul 10 Updated: Jul 21 at 3:01PM Checked: Jul 22 at 8:53AM
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 Better Homes & Gardens Real Estate I-20 Team
Investment Insights
Based on property information with market context.
This well-maintained triplex offers three separate living units. The main building has an upstairs unit with two bedrooms and one bathroom, along with a dedicated utility room, a full-size kitchen, and a spacious dining area. The downstairs unit also features two bedrooms and one bathroom, with its own utility room, full-size kitchen, and dining space.
Behind the main building, there is a private 1-bedroom, 1-bath cottage that includes its own full-size kitchen. The property also features a large shared outdoor entertaining area with a deck.
Multiple units are laid out for everyday living with functional room arrangements across the upstairs, downstairs, and cottage configurations.
Behind the main building, there is a private 1-bedroom, 1-bath cottage that includes its own full-size kitchen. The property also features a large shared outdoor entertaining area with a deck.
Multiple units are laid out for everyday living with functional room arrangements across the upstairs, downstairs, and cottage configurations.
Key Highlights
- Triplex with 3 separate living units: two main units and a private 1‑bedroom, 1‑bath cottage behind the main building
- Main building unit mix: upstairs 2 bed/1 bath plus downstairs 2 bed/1 bath, each with a full‑size kitchen and dining area
- Each unit includes its own utility room, plus the cottage has its own full‑size kitchen and bathroom
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 | $40.9k | $13.80 |
| − Vacancy | −$2.7k | −$0.90 |
| EGI | $38.3k | $12.90 |
| − OpEx | −$11.5k | −$3.87 |
| NOI | $26.8k | $9.03 |
2,966 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$382.7K
$334.9K – $446.5K
NOI $26,789 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$358.7K
$313.8K – $418.4K
NOI $25,106 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$662.0K
$579.3K – $772.3K
NOI $46,340 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Triplex - Well-maintained triplex includes two updated main units and a private 1-bedroom cottage with separate kitchen and bathroom.
Where is this triplex located?
The property is located at 831 West Houston Street Tyler, TX.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Triplex with 3 separate living units: two main units and a private 1‑bedroom, 1‑bath cottage behind the main building; Main building unit mix: upstairs 2 bed/1 bath plus downstairs 2 bed/1 bath, each with a full‑size kitchen and dining area; Each unit includes its own utility room, plus the cottage has its own full‑size kitchen and bathroom
