Historic Victorian
For Sale
$420,000
1225 WYOMING ST, San Antonio, TX 78203
Multi-Family (2-8 Units), San Antonio, TX
Property Size2,646 SF
Lot Size0.17 Acres
Price / SF$158.73
Days on Market142
Property Features for 1225 WYOMING ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Call District
Middle school
Call District
High school
Call District
Elementary school district
San Antonio I.S.D.
Middle school district
San Antonio I.S.D.
High school district
San Antonio I.S.D.
Subdivision
1200
Standard status
Active
Size
2,646 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
9348
Amenities
balcony
Building Details
Year built
1900
Listing Agency:
Keller Williams Heritage · Keller Williams Realty
(210) 493-3030
Listed By:
Matthew Hetrick
(210) 365-5720
Added: Apr 15
Changed: Aug 19
Last Checked: Sep 3 at 6:06AM
MLS# 1769545
Copyright © 2026 LERA MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1900, this Victorian-era residential property is currently arranged as a four-plex with 2,646 square feet of living space. The layout includes 4 bedrooms and 4 bathrooms, while the exterior features a balcony and period architectural character. The property sits on a 0.165-acre lot and may be restored to its original single-family configuration.
Located at 1225 Wyoming St in San Antonio, the property is near the Alamodome and downtown. Its existing four-unit arrangement, historic design, and lot size provide a defined base for continued multifamily use or a restoration project.
Located at 1225 Wyoming St in San Antonio, the property is near the Alamodome and downtown. Its existing four-unit arrangement, historic design, and lot size provide a defined base for continued multifamily use or a restoration project.
Key Highlights
- Currently configured as a four‑plex
- 2,646 square feet of living space
- 4 bedrooms and 4 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,456
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$609,120
$609.1K
Cap Rate 7%
$435,086
$435.1K
Cap Rate 9%
$338,400
$338.4K
Market Conditions
NOI Build-Up for 2,646 SF
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.
Gross rent
$46.0K $17.40/SF
− Vacancy
−$2.5K −$0.96/SF
EGI
$43.5K $16.44/SF
− OpEx
−$13.1K −$4.93/SF
NOI
$30.5K $11.51/SF
Area
San Antonio, TX
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$609,120
Cap Rate 7%
$435,086
Cap Rate 9%
$338,400
Alternative Uses
Best Use
Multifamily LT 5
$435.1K
$380.7K – $507.6K
NOI $30,456 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$386.1K
$337.9K – $450.5K
NOI $27,028 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$674.9K
$590.6K – $787.4K
NOI $47,246 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
Explore this area
Business Placement
Demographics for 78203, TX
5,872
Population
2,380
Households
2.5
Avg Household Size
35
Median Age
14%
College-Educated
75%
High-School Grad
1.4 sq mi
ZIP Area
4,194
Density / Sq Mi
$34,815
Median Household Income
$28,146
Median Earnings
$989
Median Rent
$139,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property with a balcony, historic character, and conversion potential for single-family use.
Where is this quadplex located?
The property is located at 1225 WYOMING ST San Antonio, TX.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Currently configured as a four‑plex; 2,646 square feet of living space; 4 bedrooms and 4 bathrooms
