Traditional Duplex Near
For Sale
$375,999
923 Eikel, New Braunfels, TX 78130
Multi-Family (2-8 Units), New Braunfels, TX
Property Size1,924 SF
Lot Size0.24 Acres
Price / SF$195.43
Days on Market153
Property Features for 923 Eikel
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RESIDENTIAL
Elementary school
New Braunfel
Middle school
New Braunfel
High school
New Braunfel
Elementary school district
New Braunfels
Middle school district
New Braunfels
High school district
New Braunfels
Subdivision
2622
Standard status
Active
Size
1,924 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Annual Amount
5600
Utilities
Cooling system
Central Air
Building Details
Year built
1970
Listing Agency:
Vortex Realty
(210) 647-6557
Listed By:
Michelle Barre
(210) 867-7700
Added: Apr 15
Changed: Aug 31
Last Checked: Sep 14 at 7:06PM
MLS# 1940523
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 1,924-square-foot duplex sits on a 0.241-acre residentially zoned parcel in New Braunfels. Built in 1970, the property has central air and a two-unit configuration suited to residential income use.
The property at 923 Eikel is approximately two blocks from Old Downtown and Comal Creek, with newer downtown areas and historic districts about four blocks away. Its setting combines access to nearby urban destinations with a quieter residential environment. The surrounding area includes established city neighborhoods, creek-adjacent land, and ongoing development.
The property at 923 Eikel is approximately two blocks from Old Downtown and Comal Creek, with newer downtown areas and historic districts about four blocks away. Its setting combines access to nearby urban destinations with a quieter residential environment. The surrounding area includes established city neighborhoods, creek-adjacent land, and ongoing development.
Key Highlights
- Duplex with 1,924 square feet of building area
- 0.241‑acre lot in a residentially zoned setting
- Central air cooling
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
$19,745
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
5.25%
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%
$394,900
$394.9K
Cap Rate 7%
$282,071
$282.1K
Cap Rate 9%
$219,389
$219.4K
Market Conditions
NOI Build-Up for 1,924 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
$31.2K $16.20/SF
− Vacancy
−$3.0K −$1.54/SF
EGI
$28.2K $14.66/SF
− OpEx
−$8.5K −$4.40/SF
NOI
$19.7K $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%
$394,900
Cap Rate 7%
$282,071
Cap Rate 9%
$219,389
Alternative Uses
Best Use
Multifamily LT 5
$282.1K
$246.8K – $329.1K
NOI $19,745 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$244.9K
$214.3K – $285.7K
NOI $17,143 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$490.8K
$429.4K – $572.6K
NOI $34,355 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,729
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Residentially zoned duplex with central air and rental-income potential.
Where is this duplex located?
The property is located at 923 Eikel New Braunfels, TX.
What is the asking price?
The asking price for this property is $375,999.
What are key features of this property?
This property features: Duplex with 1,924 square feet of building area; 0.241‑acre lot in a residentially zoned setting; Central air cooling
