Side-by-Side Duplex with Three-Bedroom
For Sale
$429,000
19959 Fm 306, Canyon Lake, TX 78133
Two-unit residential property with one occupied residence and a recently refreshed unit prepared for occupancy.
Property Size3,238 SF
Price / SF$132.49
Days on Market25
Property Features for 19959 Fm 306
General Information
Standard status
Active
Size
3,238 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1996
Listing Agency:
Premier Town & Country Realty
(281) 630-9749
Listed By:
Lauren Alff
Source:
Kingdomtxrealty
Added: Aug 7
Changed: Aug 30
Last Checked: Aug 25 at 4:58AM
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 Premier Town & Country Realty
Investment Insights
Based on property information with market context.
This side-by-side duplex includes two residences, each arranged with three bedrooms and two bathrooms. Both units are equipped with a refrigerator, washer, and dryer. One residence is occupied, while the second has been recently refreshed and is ready for occupancy, creating a property with an established rental component and additional leasing availability.
The property is located at 19959 FM 306 in Canyon Lake, Texas, near shopping, dining, schools, Canyon Lake amenities, and commuter routes. Its placement away from the roadway provides separation from passing traffic, while on-site parking supports both residences. The configuration also accommodates an owner-occupant seeking a separate second unit, as expressly supported by the property’s two-residence layout.
The property is located at 19959 FM 306 in Canyon Lake, Texas, near shopping, dining, schools, Canyon Lake amenities, and commuter routes. Its placement away from the roadway provides separation from passing traffic, while on-site parking supports both residences. The configuration also accommodates an owner-occupant seeking a separate second unit, as expressly supported by the property’s two-residence layout.
Key Highlights
- Two side‑by‑side residential units
- Each unit includes 3 bedrooms and 2 bathrooms
- One unit is occupied; the second was recently refreshed and is ready for occupancy
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
$33,231
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
7.75%
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%
$664,620
$664.6K
Cap Rate 7%
$474,729
$474.7K
Cap Rate 9%
$369,233
$369.2K
Market Conditions
NOI Build-Up for 3,238 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
$52.5K $16.20/SF
− Vacancy
−$5.0K −$1.54/SF
EGI
$47.5K $14.66/SF
− OpEx
−$14.2K −$4.40/SF
NOI
$33.2K $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%
$664,620
Cap Rate 7%
$474,729
Cap Rate 9%
$369,233
Alternative Uses
Best Use
Multifamily LT 5
$474.7K
$415.4K – $553.9K
NOI $33,231 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$412.2K
$360.6K – $480.9K
NOI $28,851 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$826.0K
$722.7K – $963.6K
NOI $57,817 @ 7.0% cap · market cap 13.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 78133, TX
20,787
Population
11,208
Households
1.9
Avg Household Size
52
Median Age
33%
College-Educated
94%
High-School Grad
75.5 sq mi
ZIP Area
275
Density / Sq Mi
$80,777
Median Household Income
$45,470
Median Earnings
$1,236
Median Rent
$300,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with one occupied residence and a recently refreshed unit prepared for occupancy.
Where is this duplex located?
The property is located at 19959 Fm 306 Canyon Lake, TX.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Two side‑by‑side residential units; Each unit includes 3 bedrooms and 2 bathrooms; One unit is occupied; the second was recently refreshed and is ready for occupancy
