611 W Woldert St

Investment Overview

The Woldert-Spence Manor was built in 1884 by William Woldert, whose family helped settle Smith County. A second story was added in the 1930s, and two garage apartments were built at the rear of the lot after the 1931 oil boom brought a housing shortage to Tyler. Restored in 1992 and operating as a bed and breakfast since 1993, it is the oldest continuously operating inn in the city. The offering totals 5,104 SF across two buildings on 0.557 acres in Tyler's Brick Street Historic District, two blocks from the downtown square and closer to it than any other lodging in the city. The 3,716 SF Manor holds seven guest rooms, each with a private bath. The detached carriage house holds two 694 SF apartments with separate addresses and metered utilities, producing $32,400 in annual rent. At $445,000, the nine-key offering prices at roughly $87 per SF and $49,400 per key. Guest room revenue has averaged $29,854 over the last five years. With $225,869 invested since 2016, including roof, deck, insulation, and full exterior repaint, a buyer inherits a stabilized building and meaningful room revenue upside, whether continuing the inn, repositioning as short-term rental or event space, or occupying one cottage while the other carries costs.

Investment Highlights

• 1884 Queen Anne Victorian and designated Tyler Historic Landmark, with original heart-of-pine and oak floors, period millwork, and stained glass
• Seven guest rooms across 3,716 SF, four upstairs and three down, each with a private bath
• Detached 1,388 SF carriage house with two 694 SF apartments, built during the 1931 East Texas oil boom, one leased at $1,200 per month and one owner-occupied with $1,500 per month market rent
• Tyler's oldest bed and breakfast, operating continuously since 1993
• Close proximity to the downtown Tyler Square, Goodman-LeGrand Museum, Liberty Hall, ETX Brewing, and Crema Coffee
• $225,869 in capital improvements since 2016, including roof, full exterior repaint, new cottage decking, attic insulation, and water heater replacement
• Offered turnkey with furnishings, the Woldert-Spence Manor name, website, and booking channel accounts