Duplex with Fenced
For Sale
$424,000
1049-1051 Carolyn Cove, New Braunfels, TX 78130
Two-unit property with granite finishes, included appliances, and garage laundry hookups.
Property Size2,222 SF
Price / SF$190.82
Days on Market10
Property Features for 1049-1051 Carolyn Cove
General Information
Standard status
Active
Size
2,222 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
fenced yards
laundry hookups
Building Details
Year Built
2014
Buildings
1
Listing Agency:
Hecht Real Estate Group
(210) 596-1124
Listed By:
Linda Ebling
Source:
Texashomeguide
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 29 at 1:30PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hecht Real Estate Group
Investment Insights
Based on property information with market context.
Built in 2014, this duplex offers granite countertops in the kitchens and bathrooms, stained concrete flooring, coffered ceilings, distinctive light fixtures, and rounded interior corners. Each residence includes a range and refrigerator, while garage laundry hookups add practical utility. Fenced rear and side yards are equipped with sprinkler systems.
The property includes 1049 Carolyn Cove and 1051 Carolyn Cove in New Braunfels. The 1049 Carolyn Cove unit is occupied on a month-to-month basis, and the lease for 1051 Carolyn Cove runs through 7/31/27. Shopping, I-35, Hwy 46, and Gruene are minutes away. Showings are not available until an accepted contract is in place.
The property includes 1049 Carolyn Cove and 1051 Carolyn Cove in New Braunfels. The 1049 Carolyn Cove unit is occupied on a month-to-month basis, and the lease for 1051 Carolyn Cove runs through 7/31/27. Shopping, I-35, Hwy 46, and Gruene are minutes away. Showings are not available until an accepted contract is in place.
Key Highlights
- Duplex built in 2014
- Granite countertops in kitchens and bathrooms
- Stained concrete flooring with coffered ceilings and rounded corners
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
$22,804
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
5.38%
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%
$456,080
$456.1K
Cap Rate 7%
$325,771
$325.8K
Cap Rate 9%
$253,378
$253.4K
Market Conditions
NOI Build-Up for 2,222 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
$36.0K $16.20/SF
− Vacancy
−$3.4K −$1.54/SF
EGI
$32.6K $14.66/SF
− OpEx
−$9.8K −$4.40/SF
NOI
$22.8K $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%
$456,080
Cap Rate 7%
$325,771
Cap Rate 9%
$253,378
Alternative Uses
Best Use
Multifamily LT 5
$325.8K
$285.1K – $380.1K
NOI $22,804 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$282.8K
$247.5K – $330.0K
NOI $19,798 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$566.8K
$496.0K – $661.3K
NOI $39,676 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
118
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with granite finishes, included appliances, and garage laundry hookups.
Where is this duplex located?
The property is located at 1049-1051 Carolyn Cove New Braunfels, TX.
What is the asking price?
The asking price for this property is $424,000.
What are key features of this property?
This property features: Duplex built in 2014; Granite countertops in kitchens and bathrooms; Stained concrete flooring with coffered ceilings and rounded corners
