Two-Unit Duplex with Separate
For Sale
Under Contract
$244,000
1412 WHITMAN AVE, San Antonio, TX 78211
Multi-Family (2-8 Units), San Antonio, TX
Property Size1,574 SF
Lot Size0.22 Acres
Price / SF$155.02
Days on Market70
Property Features for 1412 WHITMAN AVE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Accessibility
Accessible Approach with Ramp
Elementary school
Collier
Middle school
Leal
High school
Harlandale
Elementary school district
Harlandale I.S.D
Middle school district
Harlandale I.S.D
High school district
Harlandale I.S.D
Subdivision
2200
Standard status
Active Under Contract
Size
1,574 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Annual Amount
4152
Building Details
Year built
1948
Listing Agency:
Full Spectrum Realty
(210) 281-1067
Listed By:
Terry Todd
(210) 287-5982
Added: Jun 29
Changed: Sep 3
Last Checked: Sep 6 at 12:06AM
MLS# 1971729
Copyright © 2026 LERA MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex property includes two separate homes on one lot, totaling 1,574 square feet. The first home contains three bedrooms and one bathroom across 878 square feet, while the second provides two bedrooms and one bathroom within 696 square feet. Both homes have dedicated parking areas, and a privacy fence separates the outdoor space. Gas and electric service are separately metered; water service is shared.
Built in 1948, the property is zoned R6 and includes an accessible approach with ramp. The first home has been occupied by the same tenant for more than five years under a lease scheduled to expire 5.31.27. The second home is currently vacant, providing two distinct occupancy conditions within the same duplex asset.
Built in 1948, the property is zoned R6 and includes an accessible approach with ramp. The first home has been occupied by the same tenant for more than five years under a lease scheduled to expire 5.31.27. The second home is currently vacant, providing two distinct occupancy conditions within the same duplex asset.
Key Highlights
- Two homes on one lot totaling 1,574 square feet
- Home 1: 3 bedrooms, 1 bathroom, and 878 square feet
- Home 2: 2 bedrooms, 1 bathroom, and 696 square feet
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
$18,117
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
7.43%
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%
$362,340
$362.3K
Cap Rate 7%
$258,814
$258.8K
Cap Rate 9%
$201,300
$201.3K
Market Conditions
NOI Build-Up for 1,574 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
$27.4K $17.40/SF
− Vacancy
−$1.5K −$0.96/SF
EGI
$25.9K $16.44/SF
− OpEx
−$7.8K −$4.93/SF
NOI
$18.1K $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%
$362,340
Cap Rate 7%
$258,814
Cap Rate 9%
$201,300
Alternative Uses
Best Use
Multifamily LT 5
$258.8K
$226.5K – $302.0K
NOI $18,117 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$229.7K
$201.0K – $268.0K
NOI $16,078 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$401.5K
$351.3K – $468.4K
NOI $28,105 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Explore this area
Business Placement
Demographics for 78211, TX
29,976
Population
10,516
Households
2.9
Avg Household Size
35
Median Age
7%
College-Educated
63%
High-School Grad
10.2 sq mi
ZIP Area
2,939
Density / Sq Mi
$54,279
Median Household Income
$30,109
Median Earnings
$1,047
Median Rent
$110,200
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 - R6-zoned property offers two residences, fenced parking, and separate gas and electric service.
Where is this duplex located?
The property is located at 1412 WHITMAN AVE San Antonio, TX.
What is the asking price?
The asking price for this property is $244,000.
What are key features of this property?
This property features: Two homes on one lot totaling 1,574 square feet; Home 1: 3 bedrooms, 1 bathroom, and 878 square feet; Home 2: 2 bedrooms, 1 bathroom, and 696 square feet
