Renovated Duplex with Two-Level
New
For Sale
$234,900
2815 S PINE ST, San Antonio, TX 78210
Multi-Family (2-8 Units), San Antonio, TX
Property Size1,620 SF
Lot Size0.15 Acres
Price / SF$145
Days on Market3
Property Features for 2815 S PINE ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4
Elementary school
Call District
Middle school
Call District
High school
Highlands
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
1900
Standard status
Active
Size
1,620 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
4294
Amenities
washer/dryer connections
spacious backyard
Building Details
Year built
1940
Listing Agency:
Vortex Realty
(210) 647-6557
Listed By:
Marcus Bledsoe
(210) 867-7700
Added: Aug 23
Changed: Aug 24
Last Checked: Aug 25 at 10:06PM
MLS# 2011024
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 contains two separate residences arranged on different levels, with one unit upstairs and the other downstairs. The 1,620-square-foot property was renovated in 2023 with new electrical wiring, central air and heat, ceramic tile, refinished wood floors, and updated Formica countertops. Washer/dryer connections and a spacious backyard add practical functionality.
Built in 1940 and situated on 0.152 acres, the property carries R-4 zoning. It is located minutes from Downtown San Antonio and the Alamodome, placing both units within convenient reach of those destinations. The configuration supports rental use or an owner-occupant arrangement, as described for the property.
Built in 1940 and situated on 0.152 acres, the property carries R-4 zoning. It is located minutes from Downtown San Antonio and the Alamodome, placing both units within convenient reach of those destinations. The configuration supports rental use or an owner-occupant arrangement, as described for the property.
Key Highlights
- Two‑unit duplex with one residence upstairs and one downstairs
- Renovated in 2023 with new electrical wiring and central air and heat
- 1,620 square feet on a 0.152‑acre lot
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
7.94%
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 7.94%
Second Best
Apartment 5plus
$236.4K
$206.9K – $275.8K
NOI $16,548 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$413.2K
$361.6K – $482.1K
NOI $28,926 @ 7.0% cap · market cap 12.31%
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
484
Businesses Nearby
Explore this area
Business Placement
Demographics for 78210, TX
33,010
Population
14,410
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
76%
High-School Grad
7.3 sq mi
ZIP Area
4,522
Density / Sq Mi
$51,990
Median Household Income
$33,271
Median Earnings
$1,119
Median Rent
$172,700
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-unit property with separate upper and lower residences, a spacious backyard, and washer/dryer connections.
Where is this duplex located?
The property is located at 2815 S PINE ST San Antonio, TX.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Two‑unit duplex with one residence upstairs and one downstairs; Renovated in 2023 with new electrical wiring and central air and heat; 1,620 square feet on a 0.152‑acre lot
