Professionally Managed
For Sale
$189,000
2609 W Poplar, San Antonio, TX 78207
Two-unit property with separate utility meters and tenant-paid utilities.
Property Size1,344 SF
Price / SF$140.63
Days on Market31
Property Features for 2609 W Poplar
General Information
Standard status
Active
Size
1,344 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2003
Listing Agency:
iHome Realty
Listed By:
Eduardo Arroyos
(210) 625-2363
Source:
Drialtor
Added: Aug 6
Changed: Aug 28
Last Checked: Sep 5 at 10:41AM
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 iHome Realty
Investment Insights
Based on property information with market context.
This duplex contains 1,344 square feet and was built in 2003. The property is configured as two residential units and is currently supported by professional management.
Each unit has its own utility meter, with tenants responsible for utility payments. The property is located at 2609 W Poplar in San Antonio, Texas, within ZIP code 78207.
Each unit has its own utility meter, with tenants responsible for utility payments. The property is located at 2609 W Poplar in San Antonio, Texas, within ZIP code 78207.
Key Highlights
- Two‑unit duplex totaling 1,344 square feet
- Built in 2003
- Professional property management in place
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
$15,470
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
8.19%
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%
$309,400
$309.4K
Cap Rate 7%
$221,000
$221.0K
Cap Rate 9%
$171,889
$171.9K
Market Conditions
NOI Build-Up for 1,344 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
$23.4K $17.40/SF
− Vacancy
−$1.3K −$0.96/SF
EGI
$22.1K $16.44/SF
− OpEx
−$6.6K −$4.93/SF
NOI
$15.5K $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%
$309,400
Cap Rate 7%
$221,000
Cap Rate 9%
$171,889
Alternative Uses
Best Use
Multifamily LT 5
$221.0K
$193.4K – $257.8K
NOI $15,470 @ 7.0% cap · market cap 8.19%
Second Best
Apartment 5plus
$196.1K
$171.6K – $228.8K
NOI $13,729 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$342.8K
$300.0K – $400.0K
NOI $23,998 @ 7.0% cap · market cap 12.70%
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
681
Businesses Nearby
Explore this area
Business Placement
Demographics for 78207, TX
51,705
Population
18,750
Households
2.8
Avg Household Size
34
Median Age
6%
College-Educated
62%
High-School Grad
7.3 sq mi
ZIP Area
7,083
Density / Sq Mi
$30,655
Median Household Income
$23,696
Median Earnings
$857
Median Rent
$93,200
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 separate utility meters and tenant-paid utilities.
Where is this duplex located?
The property is located at 2609 W Poplar San Antonio, TX.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,344 square feet; Built in 2003; Professional property management in place
