Fourplex with Covered
For Sale
$699,888
502 E Laurel, San Antonio, TX 78212
One efficiency is vacant, supporting owner occupancy or leasing flexibility.
Property Size3,238 SF
Days on Market8
Property Features for 502 E Laurel
General Information
Standard status
Active
Size
3,238 SF
Property subtype
Investment
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$12,202
Amenities
covered porches
shared laundry room
Building Details
Building Size
3,238 SF
Year Built
1925
Buildings
1
Stories
2
Units
4
Listed By:
Danielle Becker
(512) 576-9155
Source:
Elliman
Added: Sep 4
Last Checked: Sep 10 at 10:30AM
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 Danielle Becker
Investment Insights
Based on property information with market context.
Built in 1925, this Tobin Hill fourplex contains four separate units, including a vacant efficiency. Covered porches extend across the front of both levels, while driveway and street parking serve the property. A shared laundry room includes two washers, two dryers, and individual supply cabinets. Recent work includes the roof, driveway, plumbing, attic insulation, and AC units.
The property is located at 502 E Laurel in San Antonio, approximately a 15-minute walk from The Pearl and minutes from downtown, two major hospitals, schools, restaurants, nightlife, and daily conveniences. Walk Score is 95, Transit Score is 79, and Bike Score is 58, placing the fourplex within a highly accessible urban setting.
The property is located at 502 E Laurel in San Antonio, approximately a 15-minute walk from The Pearl and minutes from downtown, two major hospitals, schools, restaurants, nightlife, and daily conveniences. Walk Score is 95, Transit Score is 79, and Bike Score is 58, placing the fourplex within a highly accessible urban setting.
Key Highlights
- Fourplex with four individual units, including one vacant efficiency
- Built in 1925 with covered porches on the main and second levels
- Approximately a 15‑minute walk to The Pearl
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
$37,270
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
5.33%
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%
$745,400
$745.4K
Cap Rate 7%
$532,429
$532.4K
Cap Rate 9%
$414,111
$414.1K
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
$56.3K $17.40/SF
− Vacancy
−$3.1K −$0.96/SF
EGI
$53.2K $16.44/SF
− OpEx
−$16.0K −$4.93/SF
NOI
$37.3K $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%
$745,400
Cap Rate 7%
$532,429
Cap Rate 9%
$414,111
Alternative Uses
Best Use
Multifamily LT 5
$532.4K
$465.9K – $621.2K
NOI $37,270 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$472.5K
$413.5K – $551.3K
NOI $33,076 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$826.0K
$722.7K – $963.6K
NOI $57,817 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,394
Businesses Nearby
Explore this area
Business Placement
Demographics for 78212, TX
26,738
Population
13,399
Households
2
Avg Household Size
39
Median Age
39%
College-Educated
85%
High-School Grad
6.9 sq mi
ZIP Area
3,875
Density / Sq Mi
$60,222
Median Household Income
$40,037
Median Earnings
$1,084
Median Rent
$299,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - One efficiency is vacant, supporting owner occupancy or leasing flexibility.
Where is this quadplex located?
The property is located at 502 E Laurel San Antonio, TX.
What is the asking price?
The asking price for this property is $699,888.
What are key features of this property?
This property features: Fourplex with four individual units, including one vacant efficiency; Built in 1925 with covered porches on the main and second levels; Approximately a 15‑minute walk to The Pearl
