C3-Zoned Duplex with
For Sale
$589,999
388 E Faust, New Braunfels, TX 78130
Multi-Family (2-8 Units), New Braunfels, TX
Property Size2,160 SF
Lot Size0.21 Acres
Price / SF$273.15
Days on Market91
Property Features for 388 E Faust
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C3
Elementary school
Lamar
Middle school
Oak Run School
High school
New Braunfel
Elementary school district
New Braunfels
Middle school district
New Braunfels
High school district
New Braunfels
Subdivision
2620
Standard status
Active
Size
2,160 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
9997
Amenities
private fenced backyards
covered patios
Building Details
Year built
2011
Listing Agency:
Keller Williams Heritage · Keller Williams Realty
(210) 493-3030
Listed By:
Shaunna Hanover · License #0735608
(210) 493-3030
Added: Jun 3
Changed: Aug 19
Last Checked: Sep 1 at 9:06PM
MLS# 1971777
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 2011, this C3-zoned duplex contains 2,160 square feet across two residences. Each unit provides approximately 1,080 square feet with 3 bedrooms, 2 full bathrooms, vaulted ceilings, stained concrete flooring, and an open-concept arrangement. Appliances convey with the property.
Outdoor and service features include a private fenced backyard, covered patio, and individual one-car garage for each residence. The property occupies 0.207 acres at 388 E Faust in New Braunfels, with the Faust Street Bridge and Guadalupe River nearby. Downtown New Braunfels, restaurants, shopping, entertainment, river recreation, and major commuter routes are also described as minutes away.
Outdoor and service features include a private fenced backyard, covered patio, and individual one-car garage for each residence. The property occupies 0.207 acres at 388 E Faust in New Braunfels, with the Faust Street Bridge and Guadalupe River nearby. Downtown New Braunfels, restaurants, shopping, entertainment, river recreation, and major commuter routes are also described as minutes away.
Key Highlights
- 2,160‑square‑foot duplex on 0.207 acres
- Each unit has 3 bedrooms, 2 full bathrooms, and approximately 1,080 square feet
- Built in 2011 and zoned C3
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
$22,167
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
3.76%
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%
$443,340
$443.3K
Cap Rate 7%
$316,671
$316.7K
Cap Rate 9%
$246,300
$246.3K
Market Conditions
NOI Build-Up for 2,160 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
$35.0K $16.20/SF
− Vacancy
−$3.3K −$1.54/SF
EGI
$31.7K $14.66/SF
− OpEx
−$9.5K −$4.40/SF
NOI
$22.2K $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%
$443,340
Cap Rate 7%
$316,671
Cap Rate 9%
$246,300
Alternative Uses
Best Use
Multifamily LT 5
$316.7K
$277.1K – $369.5K
NOI $22,167 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$274.9K
$240.6K – $320.8K
NOI $19,246 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$551.0K
$482.1K – $642.8K
NOI $38,569 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
853
Businesses Nearby
Explore this area
Business Placement
Demographics for 78130, TX
88,349
Population
40,810
Households
2.2
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
91.0 sq mi
ZIP Area
971
Density / Sq Mi
$84,426
Median Household Income
$45,253
Median Earnings
$1,525
Median Rent
$296,300
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 residences offer open layouts, vaulted ceilings, stained concrete floors, and private fenced yards.
Where is this duplex located?
The property is located at 388 E Faust New Braunfels, TX.
What is the asking price?
The asking price for this property is $589,999.
What are key features of this property?
This property features: 2,160‑square‑foot duplex on 0.207 acres; Each unit has 3 bedrooms, 2 full bathrooms, and approximately 1,080 square feet; Built in 2011 and zoned C3
