Two-Home Duplex
For Sale
$175,000
211 Rehmann, San Antonio, TX 78204
Multi-Family (2-8 Units), San Antonio, TX
Property Size1,226 SF
Lot Size0.13 Acres
Price / SF$142.74
Days on Market39
Property Features for 211 Rehmann
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MF-18
Elementary school
Briscoe
Middle school
Harris
High school
Brackenridge
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
1100
Standard status
Active
Size
1,226 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
5735
Building Details
Year built
1930
Listing Agency:
Premier Realty Group Platinum
(210) 641-1400
Listed By:
Matthew Johnson
(210) 888-6955
Added: Jul 28
Changed: Aug 19
Last Checked: Sep 4 at 7:06AM
MLS# 2003544
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 contains two separate homes on an approximately 48' x 115' lot. Each residence is approximately 600 square feet with one bedroom and one bathroom. One home is leased month-to-month, while the other requires a complete renovation. The property is offered as-is and carries MF-18 zoning.
Built in 1930, the property is located at 211 Rehmann in San Antonio’s 78204 ZIP code, near Southtown, Downtown San Antonio, and the Lone Star District. The surrounding area includes new-construction and renovated homes along the street and nearby blocks. Total property size is listed as 1226 square feet on 0.127 acres.
Built in 1930, the property is located at 211 Rehmann in San Antonio’s 78204 ZIP code, near Southtown, Downtown San Antonio, and the Lone Star District. The surrounding area includes new-construction and renovated homes along the street and nearby blocks. Total property size is listed as 1226 square feet on 0.127 acres.
Key Highlights
- Two separate homes, each approximately 600 square feet with 1 bedroom and 1 bathroom
- One residence leased on a month‑to‑month basis
- Second home requires a complete renovation
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
$14,111
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
8.06%
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%
$282,220
$282.2K
Cap Rate 7%
$201,586
$201.6K
Cap Rate 9%
$156,789
$156.8K
Market Conditions
NOI Build-Up for 1,226 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
$21.3K $17.40/SF
− Vacancy
−$1.2K −$0.96/SF
EGI
$20.2K $16.44/SF
− OpEx
−$6.0K −$4.93/SF
NOI
$14.1K $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%
$282,220
Cap Rate 7%
$201,586
Cap Rate 9%
$156,789
Alternative Uses
Best Use
Multifamily LT 5
$201.6K
$176.4K – $235.2K
NOI $14,111 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$178.9K
$156.5K – $208.7K
NOI $12,523 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$312.7K
$273.6K – $364.9K
NOI $21,891 @ 7.0% cap · market cap 12.51%
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
1,007
Businesses Nearby
Explore this area
Business Placement
Demographics for 78204, TX
11,298
Population
6,210
Households
1.8
Avg Household Size
39
Median Age
27%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
4,184
Density / Sq Mi
$54,667
Median Household Income
$35,107
Median Earnings
$1,516
Median Rent
$142,200
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 - MF-18-zoned duplex with one residence leased month-to-month and a second home requiring complete renovation.
Where is this duplex located?
The property is located at 211 Rehmann San Antonio, TX.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two separate homes, each approximately 600 square feet with 1 bedroom and 1 bathroom; One residence leased on a month‑to‑month basis; Second home requires a complete renovation
