Duplex With Garage
For Sale
$390,000
1633 W KINGS HWY, San Antonio, TX 78201
Multi-Family (2-8 Units), San Antonio, TX
Property Size1,620 SF
Lot Size0.20 Acres
Price / SF$240.74
Days on Market10
Property Features for 1633 W KINGS HWY
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C-1
Elementary school
Woodlawn
Middle school
Longfellow
High school
Jefferson
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
0800
Standard status
Active
Size
1,620 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
10393
Utilities
Cooling system
Central Air
Building Details
Year built
1928
Listing Agency:
Trinidad Realty Partners, Inc
(210) 828-0635
Listed By:
Diana Rosenberger
(210) 889-8854
Added: Aug 28
Last Checked: Sep 6 at 8:06AM
MLS# 2012260
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 property includes a cottage residence and a separate garage apartment. The apartment provides a bedroom, full bathroom, and kitchen, while both buildings have been used as furnished rentals. The property includes central air and was built in 1928.
Set on 0.2 acres in San Antonio, the property is zoned C-1 and contains 1,620 square feet. Parking is available for 3 cars at each building. The setting is near the Art Deco District, Woodlawn Lake, downtown, and a bus line.
Set on 0.2 acres in San Antonio, the property is zoned C-1 and contains 1,620 square feet. Parking is available for 3 cars at each building. The setting is near the Art Deco District, Woodlawn Lake, downtown, and a bus line.
Key Highlights
- Two‑building duplex configuration with a cottage home and garage apartment
- Garage apartment includes a bedroom, full bath, and kitchen
- Furnished rental history for both buildings
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
$18,646
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
4.78%
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%
$372,920
$372.9K
Cap Rate 7%
$266,371
$266.4K
Cap Rate 9%
$207,178
$207.2K
Market Conditions
NOI Build-Up for 1,620 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
$28.2K $17.40/SF
− Vacancy
−$1.6K −$0.96/SF
EGI
$26.6K $16.44/SF
− OpEx
−$8.0K −$4.93/SF
NOI
$18.6K $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%
$372,920
Cap Rate 7%
$266,371
Cap Rate 9%
$207,178
Alternative Uses
Best Use
Multifamily LT 5
$266.4K
$233.1K – $310.8K
NOI $18,646 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$236.4K
$206.9K – $275.8K
NOI $16,548 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$413.2K
$361.6K – $482.1K
NOI $28,926 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,057
Businesses Nearby
Explore this area
Business Placement
Demographics for 78201, TX
42,005
Population
18,661
Households
2.3
Avg Household Size
39
Median Age
17%
College-Educated
73%
High-School Grad
7.1 sq mi
ZIP Area
5,916
Density / Sq Mi
$46,129
Median Household Income
$30,517
Median Earnings
$1,033
Median Rent
$187,400
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 residential buildings include a cottage home and a garage apartment with a kitchen and full bath.
Where is this duplex located?
The property is located at 1633 W KINGS HWY San Antonio, TX.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two‑building duplex configuration with a cottage home and garage apartment; Garage apartment includes a bedroom, full bath, and kitchen; Furnished rental history for both buildings
