Renovated Triplex with Furnished
For Sale
$319,950
423 W MAGNOLIA AVE, San Antonio, TX 78212
Multi-Family (2-8 Units), San Antonio, TX
Property Size2,125 SF
Lot Size0.14 Acres
Price / SF$150.56
Days on Market117
Property Features for 423 W MAGNOLIA AVE
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Call District
Middle school
Call District
High school
Call District
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
0900
Standard status
Active
Size
2,125 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
8070
Utilities
Cooling system
Central Air
Amenities
private parking
high ceilings
open floor plan
renovated hardwood floors
tile floors
all appliances included
Building Details
Year built
1900
Listing Agency:
Houses In San Antonio
(210) 823-4560
Listed By:
Angie Borras · License #0449365
(210) 366-1162
Added: May 14
Changed: Aug 19
Last Checked: Sep 7 at 3:06PM
MLS# 1966513
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 1900 triplex contains 2,125 square feet on a 0.144-acre lot. Two units are currently leased, while the third is furnished and configured for short-term leasing. Interior features include high ceilings, an open floor plan, renovated hardwood flooring, tile in the kitchens and bathrooms, and spacious living and dining areas. Appliances are included, and central air serves the property.
Private parking is located behind the building. The property offers access to major thoroughfares, public transportation, downtown San Antonio, shopping, restaurants, and cafes, with a quiet residential setting and established neighboring residents.
Private parking is located behind the building. The property offers access to major thoroughfares, public transportation, downtown San Antonio, shopping, restaurants, and cafes, with a quiet residential setting and established neighboring residents.
Key Highlights
- Triplex with 2,125 square feet on a 0.144‑acre lot
- Two units presently leased; third unit furnished for short‑term leasing
- 1900 construction with renovated hardwood flooring
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
$24,459
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
7.64%
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%
$489,180
$489.2K
Cap Rate 7%
$349,414
$349.4K
Cap Rate 9%
$271,767
$271.8K
Market Conditions
NOI Build-Up for 2,125 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
$37.0K $17.40/SF
− Vacancy
−$2.0K −$0.96/SF
EGI
$34.9K $16.44/SF
− OpEx
−$10.5K −$4.93/SF
NOI
$24.5K $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%
$489,180
Cap Rate 7%
$349,414
Cap Rate 9%
$271,767
Alternative Uses
Best Use
Multifamily LT 5
$349.4K
$305.7K – $407.7K
NOI $24,459 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$310.1K
$271.3K – $361.8K
NOI $21,706 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$542.1K
$474.3K – $632.4K
NOI $37,944 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,116
Businesses Nearby
Explore this area
Business Placement
Demographics for 78212, TX
26,738
Population
13,399
Households
2
Avg Household Size
39
Median Age
39%
College-Educated
85%
High-School Grad
6.9 sq mi
ZIP Area
3,875
Density / Sq Mi
$60,222
Median Household Income
$40,037
Median Earnings
$1,084
Median Rent
$299,400
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?
Triplex - Three-unit property with central air, private rear parking, and included appliances.
Where is this triplex located?
The property is located at 423 W MAGNOLIA AVE San Antonio, TX.
What is the asking price?
The asking price for this property is $319,950.
What are key features of this property?
This property features: Triplex with 2,125 square feet on a 0.144‑acre lot; Two units presently leased; third unit furnished for short‑term leasing; 1900 construction with renovated hardwood flooring
