Renovated Two-Unit
For Sale
$319,999
109 Blue Bonnet, San Antonio, TX 78202
Historic-district property with open interiors, a front porch, and a spacious backyard.
Property Size2,332 SF
Price / SF$137.22
Days on Market21
Property Features for 109 Blue Bonnet
General Information
Standard status
Active
Size
2,332 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1930
Listing Agency:
Real Broker, LLC
Listed By:
Rueben Valdez
(210) 771-1834
Source:
Sarahildebrandaguilera
Added: Aug 17
Changed: Aug 29
Last Checked: Sep 5 at 10:40AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This two-unit duplex, built in 1930, has been renovated with updated fixtures, stylish flooring, and open interior layouts. The residences feature high ceilings and abundant natural light, creating a cohesive contemporary feel within the property's older architectural framework. A front porch adds outdoor living space at the entry, while the generous backyard provides additional room for outdoor use.
Located in San Antonio's historic district at 109 Blue Bonnet, the property contains 2,332 square feet and combines two residential units with established exterior features. The configuration offers a distinct duplex format with refreshed interiors and substantial outdoor space.
Located in San Antonio's historic district at 109 Blue Bonnet, the property contains 2,332 square feet and combines two residential units with established exterior features. The configuration offers a distinct duplex format with refreshed interiors and substantial outdoor space.
Key Highlights
- Two‑unit duplex with 2,332 square feet
- Built in 1930 and fully renovated
- Open layouts with high ceilings and natural light
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
$26,842
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
8.39%
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%
$536,840
$536.8K
Cap Rate 7%
$383,457
$383.5K
Cap Rate 9%
$298,244
$298.2K
Market Conditions
NOI Build-Up for 2,332 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
$40.6K $17.40/SF
− Vacancy
−$2.2K −$0.96/SF
EGI
$38.3K $16.44/SF
− OpEx
−$11.5K −$4.93/SF
NOI
$26.8K $11.51/SF
Area
San Antonio, TX
Vacancy
5.50%
Lease Rate
$17.40 /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%
$536,840
Cap Rate 7%
$383,457
Cap Rate 9%
$298,244
Alternative Uses
Best Use
Multifamily LT 5
$383.5K
$335.5K – $447.4K
NOI $26,842 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$340.3K
$297.8K – $397.0K
NOI $23,821 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$594.9K
$520.5K – $694.0K
NOI $41,640 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
Explore this area
Business Placement
Demographics for 78202, TX
11,422
Population
5,288
Households
2.2
Avg Household Size
34
Median Age
26%
College-Educated
77%
High-School Grad
2.3 sq mi
ZIP Area
4,966
Density / Sq Mi
$43,708
Median Household Income
$36,390
Median Earnings
$1,218
Median Rent
$223,900
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?
Duplex - Historic-district property with open interiors, a front porch, and a spacious backyard.
Where is this duplex located?
The property is located at 109 Blue Bonnet San Antonio, TX.
What is the asking price?
The asking price for this property is $319,999.
What are key features of this property?
This property features: Two‑unit duplex with 2,332 square feet; Built in 1930 and fully renovated; Open layouts with high ceilings and natural light
