Duplex with Hardwood
New
For Sale
$320,000
2020 W Kings Hwy, San Antonio, TX 78201
Both residences are tenant-occupied and feature open living and dining areas.
Property Size2,508 SF
Price / SF$127.59
Days on Market3
Property Features for 2020 W Kings Hwy
General Information
Standard status
Active
Size
2,508 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1932
Listing Agency:
Option One Real Estate
Listed By:
Jean Reich
(210) 241-0268
Source:
Mlsluxurygroup
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 12:43PM
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 Option One Real Estate
Investment Insights
Based on property information with market context.
Built in 1932, this 2,508-square-foot duplex has two tenant-occupied residences with hardwood floors, large bedrooms, ample closet space, and open living and dining areas. Updates include a new stove in each unit and ceiling fans in Unit 1. Unit 2 has a reverse osmosis system, refrigerator, washer, and dryer; all appliances convey.
The property is near Woodlawn Lake Park, with shopping and dining along Fredericksburg Rd. IH-10 provides highway access, and downtown San Antonio is within commuting reach.
The property is near Woodlawn Lake Park, with shopping and dining along Fredericksburg Rd. IH-10 provides highway access, and downtown San Antonio is within commuting reach.
Key Highlights
- Both units are tenant‑occupied
- 2,508‑square‑foot duplex built in 1932
- Hardwood floors, large bedrooms, ample closet space, and open living/dining areas
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
$28,867
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
9.02%
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%
$577,340
$577.3K
Cap Rate 7%
$412,386
$412.4K
Cap Rate 9%
$320,744
$320.7K
Market Conditions
NOI Build-Up for 2,508 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
$43.6K $17.40/SF
− Vacancy
−$2.4K −$0.96/SF
EGI
$41.2K $16.44/SF
− OpEx
−$12.4K −$4.93/SF
NOI
$28.9K $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%
$577,340
Cap Rate 7%
$412,386
Cap Rate 9%
$320,744
Alternative Uses
Best Use
Multifamily LT 5
$412.4K
$360.8K – $481.1K
NOI $28,867 @ 7.0% cap · market cap 9.02%
Second Best
Apartment 5plus
$366.0K
$320.2K – $427.0K
NOI $25,619 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$639.7K
$559.8K – $746.4K
NOI $44,782 @ 7.0% cap · market cap 13.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
Explore this area
Business Placement
Demographics for 78201, TX
42,005
Population
18,661
Households
2.3
Avg Household Size
39
Median Age
17%
College-Educated
73%
High-School Grad
7.1 sq mi
ZIP Area
5,916
Density / Sq Mi
$46,129
Median Household Income
$30,517
Median Earnings
$1,033
Median Rent
$187,400
Median Home Value
Check the figures for this property
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?
Duplex - Both residences are tenant-occupied and feature open living and dining areas.
Where is this duplex located?
The property is located at 2020 W Kings Hwy San Antonio, TX.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Both units are tenant‑occupied; 2,508‑square‑foot duplex built in 1932; Hardwood floors, large bedrooms, ample closet space, and open living/dining areas
