New Duplexes in Gated
For Sale
$513,490
12349 Montgomery Forest, San Antonio, TX 78252
Multi-Family (2-8 Units), San Antonio, TX
Property Size3,010 SF
Price / SF$170.59
Days on Market219
Property Features for 12349 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
Active
Size
3,010 SF
Taxes and HOA fees
Tax Annual Amount
0
HOA Fee
$1,000 Annually
Utilities
Cooling system
Central Air
Building Details
Year built
2026
Listing Agency:
Exquisite Properties, LLC
(210) 494-1695
Listed By:
Marie Crabb
(210) 494-1695
Added: Jan 17
Changed: Aug 19
Last Checked: Aug 24 at 5:06AM
MLS# 1931178
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.
These new duplexes, built in 2026, are located within the gated Montgomery Village community. Each building contains two units, with each unit offering 1,505 square feet of living space, including 3 bedrooms and 2.5 bathrooms. The community features a private park and a community-wide front irrigation system. The Homeowners Association (HOA) fee includes front lawn mowing, ensuring consistent property upkeep. Each duplex includes an oversized 1.5 car garage with an automatic garage door opener, premium vinyl plank floors, and stainless steel appliances. The location, just off 90 West one exit outside of 1604, provides convenient access to major employers within a twenty-minute drive, such as Joint Base Lackland, USAA, Citibank, American Funds, Valero, UTSA, Six Flags, Marathon Petroleum, and Microsoft. The area is experiencing significant growth, making it a desirable location for renters. The property is suitable for house hacking, where one unit can be occupied while the other is rented out. Property management services are available for 7.5% of rents. Suggested monthly rent is $1,775 per side, though not guaranteed. A 1-2-10 warranty is included.
Key Highlights
- New 2026 Duplexes in Gated Community with ~3.75% Interest Rate (for Qualified Buyers).
- House Hacking Opportunity:** Live in one unit, rent the other to offset mortgage payments.
- Airbnb Friendly Community:** Potential for Cash Flow by renting both units.
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
6.75%
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 6.75%
Second Best
Apartment 5plus
$439.2K
$384.3K – $512.5K
NOI $30,747 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$767.8K
$671.8K – $895.8K
NOI $53,746 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - New duplexes in San Antonio with attractive financing options.
Where is this duplex located?
The property is located at 12349 Montgomery Forest San Antonio, TX.
What is the asking price?
The asking price for this property is $513,490.
What are key features of this property?
This property features: New 2026 Duplexes in Gated Community with ~3.75% Interest Rate (for Qualified Buyers).; House Hacking Opportunity:** Live in one unit, rent the other to offset mortgage payments.; Airbnb Friendly Community:** Potential for Cash Flow by renting both units.
