Renovated Duplex with
New
For Sale
$394,500
127 Lorraine Ave, San Antonio, TX 78214
Multi-Family (2-8 Units), San Antonio, TX
Property Size1,875 SF
Price / SF$210.40
Days on Market2
Property Features for 127 Lorraine Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Hillcrest
Middle school
Harris
High school
Burbank
Elementary school district
San Antonio I.S.D.
Middle school district
San Antonio I.S.D.
High school district
San Antonio I.S.D.
Subdivision
3100
Standard status
Active
Size
1,875 SF
Taxes and HOA fees
Tax Annual Amount
6476
Utilities
Cooling system
Central Air
Amenities
hardwired security cameras
Wi-Fi access points
in-ground sprinklers
patio
shed
washer and dryer
refrigerator
Building Details
Year built
1920
Listing Agency:
Keller Williams Heritage · Keller Williams Realty
(210) 493-3030
Listed By:
Erika Chapa
(210) 854-9326
Added: Sep 18
Changed: Sep 19
Last Checked: Sep 19 at 11:06PM
MLS# 2017750
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 renovated duplex includes two distinct residences on one lot with no HOA. The 1,254-square-foot main home provides two bedrooms, two bathrooms, an open-concept interior, high ceilings, walk-in closets, ceramic tile flooring, quartz countertops, stainless steel appliances, and in-home laundry. A detached 624-square-foot casita adds a studio-style layout with its own kitchen, bathroom, walk-in closet, laundry appliances, and refrigerator.
Major improvements include foundation repairs backed by a 5-year warranty, new HVAC systems, updated electrical and plumbing, replacement windows, modern fixtures, and a new water softener serving both residences. The main residence’s water heater remains under an active manufacturer warranty, while the new main water-line pressure regulator carries a 1-year warranty. Exterior features include refreshed landscaping, front and rear in-ground sprinklers, a patio, a second driveway lane, and an electrically equipped shed. Hardwired security cameras, Wi-Fi access points, Ethernet cabling, Spectrum coax, and AT&T Fiber are routed to the laundry room. The property is located steps from direct San Antonio River access.
Major improvements include foundation repairs backed by a 5-year warranty, new HVAC systems, updated electrical and plumbing, replacement windows, modern fixtures, and a new water softener serving both residences. The main residence’s water heater remains under an active manufacturer warranty, while the new main water-line pressure regulator carries a 1-year warranty. Exterior features include refreshed landscaping, front and rear in-ground sprinklers, a patio, a second driveway lane, and an electrically equipped shed. Hardwired security cameras, Wi-Fi access points, Ethernet cabling, Spectrum coax, and AT&T Fiber are routed to the laundry room. The property is located steps from direct San Antonio River access.
Key Highlights
- Two residences on one lot: 1,254‑square‑foot main home and detached 624‑square‑foot casita
- Main residence includes 2 bedrooms, 2 bathrooms, and an open‑concept layout
- Casita features a studio layout with kitchen, bathroom, walk‑in closet, and laundry
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
$21,581
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
5.47%
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%
$431,620
$431.6K
Cap Rate 7%
$308,300
$308.3K
Cap Rate 9%
$239,789
$239.8K
Market Conditions
NOI Build-Up for 1,875 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
$32.6K $17.40/SF
− Vacancy
−$1.8K −$0.96/SF
EGI
$30.8K $16.44/SF
− OpEx
−$9.2K −$4.93/SF
NOI
$21.6K $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%
$431,620
Cap Rate 7%
$308,300
Cap Rate 9%
$239,789
Alternative Uses
Best Use
Multifamily LT 5
$308.3K
$269.8K – $359.7K
NOI $21,581 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$273.6K
$239.4K – $319.2K
NOI $19,153 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$478.3K
$418.5K – $558.0K
NOI $33,480 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 78214, TX
22,664
Population
8,447
Households
2.7
Avg Household Size
37
Median Age
9%
College-Educated
69%
High-School Grad
8.3 sq mi
ZIP Area
2,731
Density / Sq Mi
$41,334
Median Household Income
$31,397
Median Earnings
$934
Median Rent
$121,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer flexible living arrangements, updated interiors, and direct access to the San Antonio River nearby.
Where is this duplex located?
The property is located at 127 Lorraine Ave San Antonio, TX.
What is the asking price?
The asking price for this property is $394,500.
What are key features of this property?
This property features: Two residences on one lot: 1,254‑square‑foot main home and detached 624‑square‑foot casita; Main residence includes 2 bedrooms, 2 bathrooms, and an open‑concept layout; Casita features a studio layout with kitchen, bathroom, walk‑in closet, and laundry
