New Construction Duplex with
For Sale
$513,490
Pending
12349 Montgomery Forest, San Antonio, TX 78252
Multi-Family (2-8 Units), San Antonio, TX
Property Size3,010 SF
Days on Market145
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
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
front lawn mowing included in HOA
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 6 at 7:06AM
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.
This under-construction duplex is scheduled for completion in 2026 and contains 3,010 square feet across two residences. Each side offers 1,505 square feet with three bedrooms, two-and-a-half baths, central air, premium vinyl plank flooring, and stainless steel appliances. The building includes an oversized one-and-a-half-car garage with an automatic opener and comes with a 1-2-10 warranty.
The property is part of Montgomery Village, a gated duplex community with a private park and community-wide front irrigation. Front lawn mowing is included through the HOA. The development sits just off US 90 West, one exit beyond Loop 1604, with Joint Base Lackland, USAA, Citibank, American Funds, Valero, UTSA, Six Flags, Marathon Petroleum, and Microsoft listed among major employers within a twenty-minute drive.
The property is part of Montgomery Village, a gated duplex community with a private park and community-wide front irrigation. Front lawn mowing is included through the HOA. The development sits just off US 90 West, one exit beyond Loop 1604, with Joint Base Lackland, USAA, Citibank, American Funds, Valero, UTSA, Six Flags, Marathon Petroleum, and Microsoft listed among major employers within a twenty-minute drive.
Key Highlights
- Two‑unit duplex totaling 3,010 square feet
- Each unit includes 1,505 square feet, 3 bedrooms, and 2.5 baths
- 2026 construction with under‑construction status
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
Lease Details
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property in a gated community with a private park and contemporary interior finishes.
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: Two‑unit duplex totaling 3,010 square feet; Each unit includes 1,505 square feet, 3 bedrooms, and 2.5 baths; 2026 construction with under‑construction status
