2-Unit Duplex with Separate
For Sale
$169,900
1636 Santa Anna, San Antonio, TX 78201
Multi-Family (2-8 Units), San Antonio, TX
Property Size1,360 SF
Price / SF$124.93
Days on Market25
Property Features for 1636 Santa Anna
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Franklin
Middle school
Whittier
High school
Edison
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
3100
Standard status
Active
Size
1,360 SF
Taxes and HOA fees
Tax Annual Amount
4199
Building Details
Year built
1985
Listing Agency:
Keller Williams City-View · Keller Williams Realty
(210) 696-9996
Listed By:
Rebecca Salmeron
(210) 696-9996
Added: Aug 6
Changed: Aug 19
Last Checked: Aug 30 at 7:06PM
MLS# 2006156
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 1985, this 1,360-square-foot duplex contains two separate residential units. Each side includes one bedroom, one bathroom, a living area, and a kitchen, creating a straightforward two-unit layout. Independent entrances and separate electrical utilities support distinct occupancy for each residence.
The property occupies a spacious lot in San Antonio and includes off-street parking. The site also offers room for outdoor improvements, subject to applicable requirements. Its configuration combines two compact living spaces with separate access and utility service in a residential income-property format.
The property occupies a spacious lot in San Antonio and includes off-street parking. The site also offers room for outdoor improvements, subject to applicable requirements. Its configuration combines two compact living spaces with separate access and utility service in a residential income-property format.
Key Highlights
- Two‑unit duplex with 1,360 square feet of total building area
- Each unit includes 1 bedroom, 1 bathroom, living area, and kitchen
- Separate entrances provide independent access for each residence
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
$13,892
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
8.18%
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%
$277,840
$277.8K
Cap Rate 7%
$198,457
$198.5K
Cap Rate 9%
$154,356
$154.4K
Market Conditions
NOI Build-Up for 1,360 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
$26.9K $19.80/SF
− Vacancy
−$1.7K −$1.23/SF
EGI
$25.3K $18.57/SF
− OpEx
−$11.4K −$8.36/SF
NOI
$13.9K $10.21/SF
Area
San Antonio, TX
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$277,840
Cap Rate 7%
$198,457
Cap Rate 9%
$154,356
Alternative Uses
Best Use
Multifamily LT 5
$223.6K
$195.7K – $260.9K
NOI $15,654 @ 7.0% cap · market cap 9.21%
Second Best
Apartment 5plus
$198.5K
$173.7K – $231.5K
NOI $13,892 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$346.9K
$303.6K – $404.7K
NOI $24,284 @ 7.0% cap · market cap 14.29%
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
753
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide independent access and electrical utilities within a manageable income-property configuration.
Where is this duplex located?
The property is located at 1636 Santa Anna San Antonio, TX.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,360 square feet of total building area; Each unit includes 1 bedroom, 1 bathroom, living area, and kitchen; Separate entrances provide independent access for each residence
