San Antonio Duplex in Alta
For Sale
$375,000
526 Fulton, San Antonio, TX 78212
MULTI_FAMILY - San Antonio, TX
Property Size2,128 SF
Lot Size0.16 Acres
Price / SF$176.22
Days on Market62
Property Features for 526 Fulton
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-4 NCD-2
Elementary school
Cotton
High school
Edison
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
2,128 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
9640
Utilities
Cooling system
Central Air
Building Details
Year built
1946
Listing Agency:
eXp Realty
(888) 519-7431
Listed By:
Laura Grau
(888) 519-7431
Added: Jun 11
Changed: Jul 22
Last Checked: Aug 11 at 6:06PM
MLS# 1947297
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.
Located in the Alta Vista neighborhood near downtown San Antonio, 526 Fulton Avenue is a duplex featuring two units, each with 2 bedrooms and 1 bathroom. The property is zoned RM-4 NCD-2. One unit is currently occupied, providing immediate rental income. The second unit is vacant and ready for a new tenant. The property offers comfortable living spaces, functional layouts, and strong rental potential in a high-demand area. The property size is 2128 square feet and the lot size is 0.158 acres. The property is located minutes from The Pearl, San Pedro Park, downtown San Antonio, restaurants, shopping, and major highways. This property presents a versatile income-producing opportunity in a prime central location.
Key Highlights
- Prime location in the desirable Alta Vista neighborhood, near downtown San Antonio.
- Duplex property offering two separate units, each with 2 bedrooms and 1 bathroom.
- Immediate rental income potential from the currently occupied unit.
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
$24,493
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
6.53%
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%
$489,860
$489.9K
Cap Rate 7%
$349,900
$349.9K
Cap Rate 9%
$272,144
$272.1K
Market Conditions
NOI Build-Up for 2,128 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
$35.0K $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%
$489,860
Cap Rate 7%
$349,900
Cap Rate 9%
$272,144
Alternative Uses
Best Use
Multifamily LT 5
$349.9K
$306.2K – $408.2K
NOI $24,493 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$310.5K
$271.7K – $362.3K
NOI $21,737 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$542.8K
$475.0K – $633.3K
NOI $37,997 @ 7.0% cap · market cap 10.13%
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
1,110
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?
Duplex - Income-producing duplex in prime location near downtown San Antonio.
Where is this duplex located?
The property is located at 526 Fulton San Antonio, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Prime location in the desirable Alta Vista neighborhood, near downtown San Antonio.; Duplex property offering two separate units, each with 2 bedrooms and 1 bathroom.; Immediate rental income potential from the currently occupied unit.
