San Antonio Duplex Investment
For Sale
$365,000
Pending
7723 Shetland, San Antonio, TX 78223
Multi-Family (2-8 Units), San Antonio, TX
Property Size2,757 SF
Days on Market50
Property Features for 7723 Shetland
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4
Elementary school
Highland Forest
Middle school
Legacy
High school
East Central
Elementary school district
East Central I.S.D
Middle school district
East Central I.S.D
High school district
East Central I.S.D
Subdivision
1900
Standard status
Pending
Size
2,757 SF
Taxes and HOA fees
Tax Annual Amount
5565
Utilities
Cooling system
Central Air
Listing Agency:
eXp Realty
(888) 519-7431
Listed By:
Irma Salazar
(888) 519-7431
Added: Jul 7
Changed: Aug 19
Last Checked: Aug 25 at 6:06PM
MLS# 1951955
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 duplex presents a great investment opportunity, with each unit featuring 3 bedrooms and 2 full bathrooms. The units offer spacious living areas and functional layouts, making the property ideal for both owner-occupants and investors seeking to generate rental income. The property is located in an established area of San Antonio on Shetland Dr, providing convenient access to Highway 37, I-10, Loop 410, and Hwy 90. Its location places it just minutes from City Base shopping, dining, schools, and everyday conveniences. This multi-family property is suitable for house hacking, allowing an owner to live in one unit and rent the other, or it can be added to a rental portfolio. Each side of the duplex provides comfortable living space, private entrances, and excellent income potential. The property is zoned R-4 and has a size of 2757 square feet.
Key Highlights
- Duplex offers excellent income potential.
- Each unit features 3 bedrooms and 2 full bathrooms with spacious living areas.
- Convenient location near major highways.
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
$28,294
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
7.75%
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%
$565,880
$565.9K
Cap Rate 7%
$404,200
$404.2K
Cap Rate 9%
$314,378
$314.4K
Market Conditions
NOI Build-Up for 2,757 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
$44.7K $16.20/SF
− Vacancy
−$4.2K −$1.54/SF
EGI
$40.4K $14.66/SF
− OpEx
−$12.1K −$4.40/SF
NOI
$28.3K $10.26/SF
Area
ZIP 78223
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%
$565,880
Cap Rate 7%
$404,200
Cap Rate 9%
$314,378
Alternative Uses
Best Use
Multifamily LT 5
$404.2K
$353.7K – $471.6K
NOI $28,294 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$350.9K
$307.1K – $409.4K
NOI $24,565 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$663.0K
$580.1K – $773.5K
NOI $46,410 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Explore this area
Business Placement
Demographics for 78223, TX
55,705
Population
22,278
Households
2.5
Avg Household Size
35
Median Age
12%
College-Educated
78%
High-School Grad
40.9 sq mi
ZIP Area
1,362
Density / Sq Mi
$50,352
Median Household Income
$33,762
Median Earnings
$1,054
Median Rent
$156,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with 3 beds/2 baths per unit, great income potential.
Where is this duplex located?
The property is located at 7723 Shetland San Antonio, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Duplex offers excellent income potential.; Each unit features 3 bedrooms and 2 full bathrooms with spacious living areas.; Convenient location near major highways.
