Two-Story Duplex with Attached
For Sale
$185,000
306 Dietert, Canyon Lake, TX 78133
MULTI_FAMILY - Other - Canyon Lake, TX
Property Size1,168 SF
Lot Size2.00 Acres
Price / SF$158.39
Days on Market156
Property Features for 306 Dietert
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Garage
Vegetation
Wooded
Patio and Porch features
Patio
Interior features
WetBar, CeilingFans, PullDownAtticStairs, TubShower, UpperLevelPrimary, Vanity, WalkInClosets, BreakfastBar
Exterior features
Balcony, Patio
Fireplace
1
Appliances
Dishwasher, ElectricWaterHeater, SomeElectricAppliances, Range
Subdivision
Cedar Terrace
Lot features
Corner Lot, Level, Mature Trees, Outside City Limits
Elementary school
Startzville
Middle school
Mountain Valley Middle School
High school
Canyon High School
Elementary school district
Comal ISD
Middle school district
Comal ISD
High school district
Comal ISD
Directions
FM 2673 TO CAMPBELL THEN LEFT ONTO DIETERT LN (ON LEFT)
Standard status
Active
APN
16792
Size
1,168 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CEDAR TERRACE CONDO, UNIT 106
HOA Fee
$297 Monthly
Legal Description
CEDAR TERRACE CONDO, UNIT 106
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Window Unit(s), Electric, Central Air
Water source
Public
Amenities
fireplace
wet bar
breakfast bar
Building Details
Year built
1984
Floors in Building
2
Flooring type
Vinyl, Carpet, Tile, Laminate
Building materials
Brick, VinylSiding, WoodSiding
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Canyon Land Real Estate & PM
(830) 964-3393
Listed By:
Marc Coleman · License #0544464
(830) 237-4995
Added: Mar 6
Changed: Aug 2
Last Checked: Aug 9 at 2:06PM
MLS# 606464
Copyright © 2026 Central Texas Multiple Listing Service. 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 two-story duplex unit offers 2 bedrooms and 2.5 baths in a configuration with bedrooms upstairs and a half bath downstairs. Built in 1984, the home includes an attached garage with washer and dryer connections, tile flooring downstairs, and a fireplace in the living room. Interior features include a wet bar and breakfast bar, and the layout also provides ceiling fans, walk-in closets, and an upper-level primary.
The property is situated on a 2-acre lot with public water service and a septic tank for wastewater. Exterior amenities include a patio and balcony. The roof is shingle/composition, and the home is heated and cooled with electric systems, including central air and window unit(s).
Tenant occupancy is in place, and a 24-hour notice is required for showings.
The property is situated on a 2-acre lot with public water service and a septic tank for wastewater. Exterior amenities include a patio and balcony. The roof is shingle/composition, and the home is heated and cooled with electric systems, including central air and window unit(s).
Tenant occupancy is in place, and a 24-hour notice is required for showings.
Key Highlights
- 2‑acre lot
- Built in 1984
- Unit layout: bedrooms upstairs, half bath downstairs
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
$11,987
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
6.48%
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%
$239,740
$239.7K
Cap Rate 7%
$171,243
$171.2K
Cap Rate 9%
$133,189
$133.2K
Market Conditions
NOI Build-Up for 1,168 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
$18.9K $16.20/SF
− Vacancy
−$1.8K −$1.54/SF
EGI
$17.1K $14.66/SF
− OpEx
−$5.1K −$4.40/SF
NOI
$12.0K $10.26/SF
Area
Comal County, TX
Vacancy
9.50%
Lease Rate
$16.20 /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%
$239,740
Cap Rate 7%
$171,243
Cap Rate 9%
$133,189
Alternative Uses
Best Use
Multifamily LT 5
$171.2K
$149.8K – $199.8K
NOI $11,987 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$148.7K
$130.1K – $173.5K
NOI $10,407 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$297.9K
$260.7K – $347.6K
NOI $20,856 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Explore this area
Business Placement
Demographics for 78133, TX
20,787
Population
11,208
Households
1.9
Avg Household Size
52
Median Age
33%
College-Educated
94%
High-School Grad
75.5 sq mi
ZIP Area
275
Density / Sq Mi
$80,777
Median Household Income
$45,470
Median Earnings
$1,236
Median Rent
$300,100
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-story duplex unit built in 1984 with attached garage, fireplace, and patio plus balcony, with tenant in place.
Where is this duplex located?
The property is located at 306 Dietert Canyon Lake, TX.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 2‑acre lot; Built in 1984; Unit layout: bedrooms upstairs, half bath downstairs
