2-Unit Duplex with Private
For Sale
$535,000
321 High Low Dr, New Braunfels, TX 78132
Two independent residences each include a kitchen and separate living space.
Property Size2,231 SF
Price / SF$239.80
Days on Market17
Property Features for 321 High Low Dr
General Information
Standard status
Active
Size
2,231 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1977
Listing Agency:
D Lee Edwards Realty, Inc
(830) 708-2319
Listed By:
D. Lee Edwards · License #0435290
Source:
Thebranchinc
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 25 at 5:38AM
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 D Lee Edwards Realty, Inc
Investment Insights
Based on property information with market context.
This duplex contains two distinct residential units within a 2,231-square-foot property. Each residence has its own private entrance, kitchen, and independent living area, supporting separate occupancy arrangements within the same building.
Built in 1977, the property is located at 321 High Low Dr in New Braunfels, Texas. The two-unit configuration provides clearly separated living spaces for residential income use or other arrangements supported by the property’s duplex design.
Built in 1977, the property is located at 321 High Low Dr in New Braunfels, Texas. The two-unit configuration provides clearly separated living spaces for residential income use or other arrangements supported by the property’s duplex design.
Key Highlights
- Two residential units within a 2,231‑square‑foot property
- Private entrance serving each unit
- Separate kitchen and independent living area in both residences
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
$22,896
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
4.28%
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%
$457,920
$457.9K
Cap Rate 7%
$327,086
$327.1K
Cap Rate 9%
$254,400
$254.4K
Market Conditions
NOI Build-Up for 2,231 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
$36.1K $16.20/SF
− Vacancy
−$3.4K −$1.54/SF
EGI
$32.7K $14.66/SF
− OpEx
−$9.8K −$4.40/SF
NOI
$22.9K $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%
$457,920
Cap Rate 7%
$327,086
Cap Rate 9%
$254,400
Alternative Uses
Best Use
Multifamily LT 5
$327.1K
$286.2K – $381.6K
NOI $22,896 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$284.0K
$248.5K – $331.3K
NOI $19,878 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$569.1K
$498.0K – $663.9K
NOI $39,836 @ 7.0% cap · market cap 7.45%
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
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 78132, TX
37,475
Population
15,356
Households
2.4
Avg Household Size
43
Median Age
53%
College-Educated
96%
High-School Grad
179.3 sq mi
ZIP Area
209
Density / Sq Mi
$126,934
Median Household Income
$63,870
Median Earnings
$1,531
Median Rent
$570,900
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 - Two independent residences each include a kitchen and separate living space.
Where is this duplex located?
The property is located at 321 High Low Dr New Braunfels, TX.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Two residential units within a 2,231‑square‑foot property; Private entrance serving each unit; Separate kitchen and independent living area in both residences
