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    Property profile & analytics

    75702 75703 Tyler, TX 75701

    • Residential income homes
    • 50,261 SF
    For Sale
    View listing
    $6,608,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 75702 75703

    Property size
    50,261 SF
    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a portfolio of 38 single-family rental homes located in Tyler, Texas. Situated in Smith County, these properties boast a combined 50,261 square feet, offering a compelling $6,608,000 asking price, or $166,000 per unit. The portfolio generates a substantial net operating income (NOI) of $487,151, translating to an attractive 7.72% capitalization rate and a price per square foot of $125.50. The properties are spread across Tyler, TX zip codes 75701, 75702, and 75703, offering a diverse range of floor plans. Tyler's strategic location, just 90 miles east of Dallas, benefits from proximity to Interstate 20 and a regional airport with daily connections to Dallas/Fort Worth International Airport. This thriving East Texas city, part of Texas's fastest-growing metro area, boasts a population exceeding 225,000, fueling consistent demand for housing. The portfolio's strong performance is further enhanced by the potential for rent increases and its designation as an Opportunity Zone. This fee-simple ownership opportunity allows for the purchase of the entire portfolio or individual groups (see brochure for details). This is a rare chance to acquire a significant, high-performing rental portfolio in a rapidly expanding market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.2998
    Latitude
    32.3244

    Comparable in this City

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      128 Rowland Pl

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      821 Shaw St

      Multifamily properties • 1,448 SF
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      1,537 SF

      2103 Fleishel Ave

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      2103 Fleishel Ave, Tyler, TX 75701-4440
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    • Value Estimation
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      18,872 SF

      2916 Teague Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 18,872 SF
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    • Value Estimation
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      3,120 SF

      2521 Telephone Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,120 SF
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      View Details
    • Value Estimation by Request
      7,800 SF

      1001 2nd St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,800 SF
      1001 2nd St, Tyler, TX 75701-3312
      View Details

    Similar Nearby for Sale

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      Retail space available for lease in Tyler, Texas.
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    75702 75703
    Tyler, TX 75701
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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