Quadplex with Private
For Sale
$939,000
1000 Advance Street, San Marcos, TX 78666
Residential, San Marcos, TX
Property Size5,548 SF
Lot Size1.21 Acres
Price / SF$169.25
Days on Market509
Property Features for 1000 Advance Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
SF-6
Bedrooms
9
Full bathrooms
6
Rooms
Bedroom 8, Bedroom 9, Bathroom 2, Bedroom 6, Bedroom 5, Bathroom 5, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 7, Bedroom 2, Bathroom 1, Bathroom 6, Bathroom 4, Bedroom 3
Patio and Porch features
Deck, Patio
Pool private
1
Interior features
BeamedCeilings, CeilingFans, PrimaryDownstairs, MainLevelPrimary, SeparateShower, TubShower, BreakfastArea, KitchenIsland, KitchenFamilyRoomCombo, KitchenDiningCombo
Exterior features
CoveredPatio, Deck
Fireplace
1
Appliances
Dishwasher, ExhaustFan, ElectricWaterHeater, Disposal, Microwave, SomeElectricAppliances
Subdivision
Westover
Lot features
One To Three Acres, City Lot, Mature Trees
Elementary school
Crockett Elementary
Middle school
Doris Miller Middle School
High school
San Marcos High School
Elementary school district
San Marcos Cisd
Middle school district
San Marcos Cisd
High school district
San Marcos Cisd
Directions
IH-35. Exit #202. Head west on Wonder World Dr. (aka RR 12). Turn right on Hunter Rd (aka Hopkins St.) Left on N. Bishop St. Right on Prospect St. Left on Allen St. Right on Advance Street. Property on Left.
Standard status
Active
APN
R47752
Size
5,548 SF
Lot size
1.21 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
15027
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric, Window Unit(s)
Water source
Public
Amenities
in-ground pool
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Flooring type
Wood, Tile, Vinyl
Building materials
HardiplankType, StoneVeneer, WoodSiding
Roof type
Composition, Metal, Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty- Hays C
(512) 312-1626
Listed By:
Adrianne Craft · License #0598981
(512) 300-7647
Added: Apr 11, 2025
Changed: Aug 31
Last Checked: Sep 1 at 12:06AM
MLS# 576249
Copyright © 2026 Central Texas Multiple Listing Service. 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 5,548-square-foot quadplex property spans four lots and includes three homes plus an efficiency apartment. The primary residence contains 3 bedrooms, 2 full bathrooms, storage areas, and flexible-use spaces, with a front deck and an in-ground pool. Secondary units feature refreshed finishes. The fourth lot has been cleared, while the property remains zoned SF6 for single-family use. Public water and public sewer serve the site. Built in 1900, the improvements include covered patio and deck areas, window-unit and electric cooling, electric heat, and a mix of vinyl, tile, and wood flooring. The efficiency apartment is leased month-to-month, and 1009 Hillyer is leased through 5/2027.
Key Highlights
- 5,548 square feet across 4 lots and 1.21 acres
- Three homes plus an efficiency apartment
- Main home includes 3 bedrooms, 2 full baths, storage, and flex areas
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
$85,046
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
9.06%
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%
$1,700,920
$1.7M
Cap Rate 7%
$1,214,943
$1.2M
Cap Rate 9%
$944,956
$945.0K
Market Conditions
NOI Build-Up for 5,548 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
$163.1K $29.40/SF
− Vacancy
−$8.5K −$1.53/SF
EGI
$154.6K $27.87/SF
− OpEx
−$69.6K −$12.54/SF
NOI
$85.0K $15.33/SF
Area
Hays County, TX
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,700,920
Cap Rate 7%
$1,214,943
Cap Rate 9%
$944,956
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.16M – $1.55M
NOI $93,032 @ 7.0% cap · market cap 9.91%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.42M
NOI $85,046 @ 7.0% cap · market cap 9.06%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,344 @ 7.0% cap · market cap 17.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 78666, TX
86,584
Population
36,354
Households
2.4
Avg Household Size
27
Median Age
35%
College-Educated
89%
High-School Grad
192.4 sq mi
ZIP Area
450
Density / Sq Mi
$55,478
Median Household Income
$25,890
Median Earnings
$1,294
Median Rent
$271,900
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?
Quadplex - Four-lot residential income property with multiple dwellings, a private pool, and a cleared lot.
Where is this quadplex located?
The property is located at 1000 Advance Street San Marcos, TX.
What is the asking price?
The asking price for this property is $939,000.
What are key features of this property?
This property features: 5,548 square feet across 4 lots and 1.21 acres; Three homes plus an efficiency apartment; Main home includes 3 bedrooms, 2 full baths, storage, and flex areas
