303/309 Princess Pl · Tyler, TX 75704

$450,000

24 bd · 16.0 ba · 2,680 sqft · MultiFamily public records · 59 Days on market

Built 2016

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Why this score? — see what drove the C+ 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 +26.7/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Looking to break into real estate the smart way or just build your current portfolio? This well-maintained duplex in Tyler offers the perfect opportunity for FHA buyers or investors wanting to build wealth one property at a time. With attractive brick and stone exterior finishes, private driveways, and individual garage spaces, this property offers both functionality and curb appeal in a growing area of town. Why This Property Works: Ideal for FHA owner-occupants (live in one side, rent the other). Great entry-level investment property, Strong rental demand, Individual garages & separate entrances, Low-maintenance exterior. Whether you're a first-time buyer wanting help with your mortgage payment or an investor testing the market with a manageable duplex, this property checks the boxes. Prime Tyler Location Situated in a convenient area of Tyler with quick access to: • Tyler Pounds Regional Airport – just minutes away • Loop 323 & Highway 31 for easy commuting • UT Tyler & Tyler Junior College • Christus & UT Health medical facilities • Shopping, dining, and retail centers • Growing residential developments nearby Tyler continues to experience steady growth, making this a smart long-term hold.

Key facts

• Private driveways
• Individual garages
• Prime tyler location

Tags

• PRIVATE DRIVEWAYS
• INDIVIDUAL GARAGE SPACES
• INDIVIDUAL GARAGES
• SEPARATE ENTRANCES
• LOW-MAINTENANCE EXTERIOR
• PRIME TYLER LOCATION

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/2.0-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $305/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Recommended offer: $436k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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-, schools D+, crime D+.
• 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.
• Market conditions: 191 active listings in the ZIP; 595 units permitted in Smith County in 2024 (45 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $126k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $436,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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.
8. 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.
9. 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: 1.18% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.61%
• DSCR: 1.52
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $4,738
• Equity at exit: $67,096

10-year hold

• IRR: 10.6%
• Equity multiple: 1.83×
• Total profit: $104,101
• Equity at exit: $38,908

Cash invested: $126,000 (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 75704

• Home prices YoY: -17.6%
• Active inventory: 191
• Price-to-rent: 28.3×

Monthly cashflow live

• Estimated rent: $5,300 medium
• Mortgage (P&I): −$2,360
• Tax from tax record: −$420 /mo · $5,043/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,113
• Net cashflow: $1,219

Break-even live

Break-even rent $3,756

Max offer price $450,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	2	$5,300
Total (4 units)			$5,300

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $450,000 Active 59 DOM
2. 2026-06-18
   days on market $450,000 Active 58 DOM
3. 2026-06-17
   days on market $450,000 Active 57 DOM
4. 2026-06-16
   days on market $450,000 Active 56 DOM
5. 2026-06-15
   days on market $450,000 Active 55 DOM
6. 2026-06-14
   days on market $450,000 Active 53 DOM
7. 2026-06-13
   days on market $450,000 Active 52 DOM
8. 2026-06-10
   days on market $450,000 Active 50 DOM
9. 2026-06-09
   days on market $450,000 Active 49 DOM
10. 2026-06-08
    days on market $450,000 Active 48 DOM
11. 2026-06-07
    days on market $450,000 Active 47 DOM
12. 2026-06-05
    days on market $450,000 Active 44 DOM
13. 2026-06-02
    days on market $450,000 Active 42 DOM
14. 2026-06-01
    days on market $450,000 Active 41 DOM
15. 2026-05-31
    days on market $450,000 Active 40 DOM
16. 2026-05-30
    days on market $450,000 Active 39 DOM
17. 2026-04-21
    listed $450,000 Active 1274-char remark

    Show marketing remark (1274 chars)

    Looking to break into real estate the smart way or just build your current portfolio? This well-maintained duplex in Tyler offers the perfect opportunity for FHA buyers or investors wanting to build wealth one property at a time. With attractive brick and stone exterior finishes, private driveways, and individual garage spaces, this property offers both functionality and curb appeal in a growing area of town. Why This Property Works: Ideal for FHA owner-occupants (live in one side, rent the other). Great entry-level investment property, Strong rental demand, Individual garages & separate entrances, Low-maintenance exterior. Whether you're a first-time buyer wanting help with your mortgage payment or an investor testing the market with a manageable duplex, this property checks the boxes. Prime Tyler Location Situated in a convenient area of Tyler with quick access to: • Tyler Pounds Regional Airport – just minutes away • Loop 323 & Highway 31 for easy commuting • UT Tyler & Tyler Junior College • Christus & UT Health medical facilities • Shopping, dining, and retail centers • Growing residential developments nearby Tyler continues to experience steady growth, making this a smart long-term hold.

ⓘ 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: $5,043 · $420/mo
• Projected year-2 tax: $8,235 · $686/mo
• Expected delta: +$3,192/yr (+$266/mo · 63.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 27 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $63,600
• − Mortgage interest: −$25,207
• − Property taxes: −$5,043
• − Insurance: −$2,250
• − Repairs & maintenance: −$5,088
• − Management: −$5,088
• − Depreciation: −$13,091
• Taxable income: $7,833
• Est. tax owed @ 24.0%: −$1,880
• After-tax cash flow: $12,753/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

• City population: 127,842
• Population (ZIP): 9,280

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 0.62)
• Race & ethnicity: White 53% Black 26% Hispanic / Latino 17% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 1% Portuguese 1% Slovak 1%
• Foreign-born: 11% · Canada
• Languages at home: 84% English-only · Spanish 15% Arabic 1%

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: ▼ -46.96%
• Current HPI: 219.5206
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-04-21 Listed $450,000 GTAR

Property tax history

+38.4%/yr

Latest (2024): $5,043 · -12.4% YoY. Source: county tax records.