Remodeled Two-Unit
For Sale
$345,000
723 Woodcrest, New Braunfels, TX 78130
Multi-Family (2-8 Units), New Braunfels, TX
Property Size2,432 SF
Lot Size0.25 Acres
Price / SF$141.86
Days on Market52
Property Features for 723 Woodcrest
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Goodwin Frazier
Middle school
Church Hill
High school
Canyon
Elementary school district
Comal
Middle school district
Comal
High school district
Comal
Subdivision
2622
Standard status
Active
Size
2,432 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Annual Amount
7781
Utilities
Cooling system
Central Air
Building Details
Year built
2004
Listing Agency:
Keller Williams Heritage · Keller Williams Realty
(210) 493-3030
Listed By:
Mark Hampton · License #0464012
(210) 493-3030
Added: Jul 10
Changed: Aug 19
Last Checked: Aug 30 at 3:06AM
MLS# 1961995
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 2004, this two-unit duplex contains 2,432 square feet on a 0.246-acre corner lot. The property includes two bedrooms, 2 1/2 baths, a one-car garage, central air, and private yard space for both units. Interior organization includes lower-level bedrooms, full bathrooms, garage access, and a laundry closet, with the upper level arranged around a kitchen and open living and dining area.
The 725 unit has been updated with vinyl plank flooring and fresh paint and is currently vacant. The duplex sits just inside Loop 337 in New Braunfels, near H-E-B Plus, NB Feed, local barbecue venues, the Guadalupe River, River Acres Park, and Cypress Bend Park.
The 725 unit has been updated with vinyl plank flooring and fresh paint and is currently vacant. The duplex sits just inside Loop 337 in New Braunfels, near H-E-B Plus, NB Feed, local barbecue venues, the Guadalupe River, River Acres Park, and Cypress Bend Park.
Key Highlights
- Two‑unit duplex with 2,432 square feet on 0.246 acres
- Built in 2004 with central air
- Corner‑lot setting with spacious yard areas for both units
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
$24,959
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
7.23%
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%
$499,180
$499.2K
Cap Rate 7%
$356,557
$356.6K
Cap Rate 9%
$277,322
$277.3K
Market Conditions
NOI Build-Up for 2,432 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
$39.4K $16.20/SF
− Vacancy
−$3.7K −$1.54/SF
EGI
$35.7K $14.66/SF
− OpEx
−$10.7K −$4.40/SF
NOI
$25.0K $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%
$499,180
Cap Rate 7%
$356,557
Cap Rate 9%
$277,322
Alternative Uses
Best Use
Multifamily LT 5
$356.6K
$312.0K – $416.0K
NOI $24,959 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$309.6K
$270.9K – $361.2K
NOI $21,669 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$620.4K
$542.8K – $723.8K
NOI $43,425 @ 7.0% cap · market cap 12.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
797
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 - Corner-lot duplex with central air, private yards, and one unit available for occupancy.
Where is this duplex located?
The property is located at 723 Woodcrest New Braunfels, TX.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,432 square feet on 0.246 acres; Built in 2004 with central air; Corner‑lot setting with spacious yard areas for both units
