428 W Bow St · Tyler, TX 75702

$215,000

6 bd · 2.0 ba · 2,214 sqft · MultiFamily public records · 6 Days on market

Built 1915 9,496 sqft lot $97/sqft · 27% above area Est $169k · 27% over

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.6/30.0
• DSCR +6.9/10.0
• 1% rule +6.0/10.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Charming remodeled duplex with character! Roofing replaced in 2018, New HVAC system on each unit on 2020, updated plumbing, separate electric and gas meters, tenants pay all utilities except water. 11ft high ceilings, original wooden floors, recess lighting, washer/dryer hook ups on each unit, stucco finishes. Units are huge with many possibilities, 1bedroom unit is 992sf and 2bedroom unit is 1336sf. Rent one and live on the other or rent both. Lot has enough space to park two vehicles per unit. Convenient corner location close to hospitals, restaurants, shopping and a few blocks from Downtown. Call today for a showing!

Key facts

• 11 ft ceilings
• Large front porch
• Stucco exterior

Tags

• STUCCO EXTERIOR
• LARGE FRONT PORCH
• 11 FT CEILINGS
• ORIGINAL HARDWOOD FLOORS
• UPDATED LIGHTING
• UPDATED PLUMBING

Property features AI

Exterior

• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Duplex residential income property; Single-story; Located on a corner (Della Ave and W. Bow Street); Subdivision: Goodman
• Construction: Stucco construction; Composition roof
• Exterior features: Front porch; Chain link fencing

Interior

• Kitchen: Gas oven, Gas range, Microwave
• Flooring: Ceramic tile; Wood
• Heating & cooling: Central heating; Electric heating; Heat pump; Window cooling units
• Interior features: Gas oven, Gas range, Microwave; Smoke detector(s)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive. Per door: $163/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Cap rate 8.1% vs local median 3.6% in Tyler — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#147 in TX, #4,181 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, commute F.
• Tyler ISD (urban): math 39% / reading 38% proficiency, ranked #449 of 826 in TX (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: T J Austin El (math 32% / reading 22%, grade F, #2,791 of 4,322 statewide, top 68%, 334 students, 99% FRL); Moore Mst Magnet School (math 46% / reading 39%, grade D-, #553 of 1,662 statewide, top 34%, 1,113 students, 87% FRL); Tyler H S (math 26% / reading 27%, grade F, #1,228 of 1,632 statewide, top 76%, 2,164 students, 90% FRL) — zoned schools average 92% FRL vs 66% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.3%/yr); 155 active listings in the ZIP; 595 units permitted in Smith County in 2024 (45 in 5+ unit buildings).
• At $2,359/mo this rent would consume 55% of the median local household income ($52k/yr) (locally 803% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Smith County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 59% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $215,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 8.12%
• Cash-on-cash: 6.51%
• DSCR: 1.29
• GRM: 7.6

CMA / ARV

• ARV (median comp): $169,189
• List price: $215,000
• Delta: 27.08%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.27% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-15,690
• Equity at exit: $32,057

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $6,441
• Equity at exit: $18,589

Cash invested: $60,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 75702

• Home prices YoY: -5.8%
• Rents YoY: 2.3%
• Active inventory: 155
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $2,359 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$320 /mo · $3,839/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $327

Break-even live

Break-even rent $1,946

Max offer price $215,000

Occupancy floor 81%

Sensitivity live

Price	-10% $448	-5% $387	+0% $327	+5% $266	+10% $205
Rent	-10% $140	-5% $233	+0% $327	+5% $420	+10% $513
Rate	-1.0pp $435	-0.5pp $381	base $327	+0.5pp $271	+1.0pp $214

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,360
Total (2 units)			$2,359

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-19
   days on market $215,000 Active 6 DOM
2. 2026-06-18
   days on market $215,000 Active 5 DOM
3. 2026-06-17
   days on market $215,000 Active 4 DOM
4. 2026-06-16
   days on market $215,000 Active 3 DOM
5. 2026-06-15
   days on market $215,000 Active 2 DOM
6. 2026-06-14
   remarks 693-char remark
7. 2026-06-14
   days on marketlisting id $215,000 Active 1 DOM
8. 2025-09-24
   listed $215,000 Active 371-char remark
9. 2022-04-04
   soldstatus 627-char remark

   Show marketing remark (627 chars)

   Charming remodeled duplex with character! Roofing replaced in 2018, New HVAC system on each unit on 2020, updated plumbing, separate electric and gas meters, tenants pay all utilities except water. 11ft high ceilings, original wooden floors, recess lighting, washer/dryer hook ups on each unit, stucco finishes. Units are huge with many possibilities, 1bedroom unit is 992sf and 2bedroom unit is 1336sf. Rent one and live on the other or rent both. Lot has enough space to park two vehicles per unit. Convenient corner location close to hospitals, restaurants, shopping and a few blocks from Downtown. Call today for a showing!

10. 2022-04-04
    soldstatus

    Show marketing remark (627 chars)

    Charming remodeled duplex with character! Roofing replaced in 2018, New HVAC system on each unit on 2020, updated plumbing, separate electric and gas meters, tenants pay all utilities except water. 11ft high ceilings, original wooden floors, recess lighting, washer/dryer hook ups on each unit, stucco finishes. Units are huge with many possibilities, 1bedroom unit is 992sf and 2bedroom unit is 1336sf. Rent one and live on the other or rent both. Lot has enough space to park two vehicles per unit. Convenient corner location close to hospitals, restaurants, shopping and a few blocks from Downtown. Call today for a showing!

11. 2021-11-17
    listed $199,500 627-char remark

    Show marketing remark (627 chars)

    Charming remodeled duplex with character! Roofing replaced in 2018, New HVAC system on each unit on 2020, updated plumbing, separate electric and gas meters, tenants pay all utilities except water. 11ft high ceilings, original wooden floors, recess lighting, washer/dryer hook ups on each unit, stucco finishes. Units are huge with many possibilities, 1bedroom unit is 992sf and 2bedroom unit is 1336sf. Rent one and live on the other or rent both. Lot has enough space to park two vehicles per unit. Convenient corner location close to hospitals, restaurants, shopping and a few blocks from Downtown. Call today for a showing!

12. 2017-09-14
    soldstatus

    Show marketing remark (557 chars)

    Don't miss out on this one!! There's great potential with this income earning property. The first living quarters has 2 bedrooms, 1 bath, a large formal living room, formal dining room and kitchen. The second living quarters has 1 bedroom, 1 bath, formal living room, 1 bathroom and kitchen. The third living quarter is a separate efficiency garage apartment with kitchen, 1 bathroom and an area for an office. This 1930's home has very tall ceilings and some of it's original character. Come and restore this Historical Marker. Make your appointment today!

13. 2017-03-28
    listed $49,000

    Show marketing remark (557 chars)

    Don't miss out on this one!! There's great potential with this income earning property. The first living quarters has 2 bedrooms, 1 bath, a large formal living room, formal dining room and kitchen. The second living quarters has 1 bedroom, 1 bath, formal living room, 1 bathroom and kitchen. The third living quarter is a separate efficiency garage apartment with kitchen, 1 bathroom and an area for an office. This 1930's home has very tall ceilings and some of it's original character. Come and restore this Historical Marker. Make your appointment today!

14. 2003-08-12
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $3,839 · $320/mo
• Projected year-2 tax: $3,934 · $328/mo
• Expected delta: +$95/yr (+$8/mo · 2.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,308
• − Mortgage interest: −$12,043
• − Property taxes: −$3,839
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,265
• − Management: −$2,265
• − Depreciation: −$6,255
• Taxable income: $567
• Est. tax owed @ 24.0%: −$136
• After-tax cash flow: $3,783/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Tyler ISD
• NCES district ID: 4843470
• Math proficiency: 39% ▼ -4.00%
• Reading proficiency: 38% ▼ -1.00%
• Median HH income: $44,090
• Composite: 32.69/100
• National rank: #5650
• State rank: #449 of 826 in TX

Livability — Tyler

• Score: 75/100
• State rank: #147
• US rank: #4181

Category grades

Amenities C+ Commute F Cost of living A+ Crime D+ Employment C- Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tyler, TX
• County: Smith County · 180,570 people
• City population: 127,842
• Metro: Tyler, TX
• Population (ZIP): 27,927
• Household income: $51,564
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 803.0

Population outlook (Smith County) Hauer SSP2

• Today (2025): 248,890 people
• By 2030: 261,665 · +5.1%
• By 2040: 286,114 · +15.0%
• By 2050: 308,006 · +23.8%
• By 2075: 354,171 · +42.3%
• By 2100: 372,828 · +49.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 49% Black 37% White 12% Two or more races 11% Native American 1%
• Hispanic origin (detail): Mexican 47%
• Common ancestry: Lithuanian 1%
• Foreign-born: 20% · Canada
• Languages at home: 56% English-only · Spanish 44%

Political lean MEDSL · Smith

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -5.6pp toward R · 2008: -39.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+39.4 2016: R+43.9 2012: R+46.9 2008: R+39.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.63%
• Current HPI: 207.1573
• Rent YoY: ▲ 2.27%
• Metro: Tyler, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+338.8% since first listed

7 events — show timeline

• 2026-06-13 Listed $215,000 GTAR
• 2022-04-04 Sold (Public Records) — Public Records
• 2022-04-04 Sold (MLS) — GTAR
• 2021-11-17 Listed $199,500 GTAR
• 2017-09-14 Sold (MLS) — GTAR
• 2017-03-28 Listed $49,000 GTAR
• 2003-08-12 Sold (Public Records) — Public Records

Property tax history

+12.9%/yr

Latest (2024): $3,839 · +17.1% YoY. Source: county tax records.