New Construction Gated
For Sale
$505,990
Pending
12340 Montgomery Forest, San Antonio, TX 78252
Multi-Family (2-8 Units), San Antonio, TX
Property Size3,010 SF
Days on Market146
Property Features for 12340 Montgomery Forest
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Elementary school
Call District
Middle school
Call District
High school
Call District
Elementary school district
Medina Valley I.S.D.
Middle school district
Medina Valley I.S.D.
High school district
Medina Valley I.S.D.
Subdivision
2304
Standard status
Pending
Size
3,010 SF
Taxes and HOA fees
Tax Annual Amount
0
HOA Fee
$600 Annually
Utilities
Cooling system
Central Air
Amenities
gated community
private park
community-wide front irrigation system
Building Details
Year built
2026
Listing Agency:
Exquisite Properties, LLC
(210) 494-1695
Listed By:
Marie Crabb · License #612087
(210) 326-2355
Added: Apr 15
Changed: Sep 2
Last Checked: Sep 7 at 10:06AM
MLS# 1931179
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.
This duplex is under construction for 2026 delivery within a gated residential community. The building contains two units, each offering 1,505 square feet with three bedrooms and 2.5 baths. Both sides include an oversized 1.5-car garage with an automatic opener, premium vinyl plank flooring, stainless steel appliances, and central air. A 1-2-10 warranty is included.
The property is located at 12340 Montgomery Forest in San Antonio, Texas 78252, just off 90 West and one exit beyond 1604. Community features include a private park, front-yard irrigation, and front lawn mowing through the HOA. The surrounding area includes major employers such as Joint Base Lackland, USAA, Citibank, American Funds, Valero, UTSA, Six Flags, Marathon Petroleum, and Microsoft within a stated twenty-minute drive.
The two-unit layout supports separate occupancy of each side, with the option to rent both units when the owner no longer occupies one of them. The community is identified as Airbnb friendly in the property information.
The property is located at 12340 Montgomery Forest in San Antonio, Texas 78252, just off 90 West and one exit beyond 1604. Community features include a private park, front-yard irrigation, and front lawn mowing through the HOA. The surrounding area includes major employers such as Joint Base Lackland, USAA, Citibank, American Funds, Valero, UTSA, Six Flags, Marathon Petroleum, and Microsoft within a stated twenty-minute drive.
The two-unit layout supports separate occupancy of each side, with the option to rent both units when the owner no longer occupies one of them. The community is identified as Airbnb friendly in the property information.
Key Highlights
- Two‑unit duplex with 1,505 SF per side
- Each unit includes 3 bedrooms and 2.5 baths
- Under construction with 2026 year built
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
$34,645
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
6.85%
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%
$692,900
$692.9K
Cap Rate 7%
$494,929
$494.9K
Cap Rate 9%
$384,944
$384.9K
Market Conditions
NOI Build-Up for 3,010 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
$52.4K $17.40/SF
− Vacancy
−$2.9K −$0.96/SF
EGI
$49.5K $16.44/SF
− OpEx
−$14.8K −$4.93/SF
NOI
$34.6K $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%
$692,900
Cap Rate 7%
$494,929
Cap Rate 9%
$384,944
Alternative Uses
Best Use
Multifamily LT 5
$494.9K
$433.1K – $577.4K
NOI $34,645 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$439.2K
$384.3K – $512.5K
NOI $30,747 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$767.8K
$671.8K – $895.8K
NOI $53,746 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 78252, TX
17,156
Population
5,943
Households
2.9
Avg Household Size
30
Median Age
19%
College-Educated
80%
High-School Grad
28.1 sq mi
ZIP Area
611
Density / Sq Mi
$79,635
Median Household Income
$45,526
Median Earnings
$1,825
Median Rent
$242,000
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?
Duplex - Two-unit residential income property with garages, upgraded finishes, and access to a private community park.
Where is this duplex located?
The property is located at 12340 Montgomery Forest San Antonio, TX.
What is the asking price?
The asking price for this property is $505,990.
What are key features of this property?
This property features: Two‑unit duplex with 1,505 SF per side; Each unit includes 3 bedrooms and 2.5 baths; Under construction with 2026 year built
