Leased Duplex with Private
New
For Sale
$309,000
1502 Eichen Road, New Braunfels, TX 78130
Residential, New Braunfels, TX
Property Size1,818 SF
Lot Size0.26 Acres
Price / SF$169.97
Days on Market5
Property Features for 1502 Eichen Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 5
Parking features
Garage
Patio and Porch features
Porch, Patio
Interior features
CeilingFans, TubShower
Exterior features
CoveredPatio, EnclosedPorch
Fencing
Privacy
Appliances
Dryer, Refrigerator, Washer, Range
Subdivision
RHINE TERRACE
Lot features
Corner Lot, City Lot, Mature Trees, Quarter To Half Acre Lot
Elementary school
Goodwin-Frazier Elementary
Middle school
Church Hill Middle School
High school
Canyon High School
Elementary school district
Comal ISD
Middle school district
Comal ISD
High school district
Comal ISD
Directions
From I-35, take Exit 191 toward FM 306. Head east on FM 306 (Farm-to-Market 306), then turn onto Eichen Rd into the Rhine Terrace subdivision. Continue a short distance and 1502 Eichen Rd will be on your right.
Standard status
Active
APN
450610005000
Size
1,818 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Rhine Terrace, Block 2, Lot 38
Tax Annual Amount
5817
Legal Description
Rhine Terrace, Block 2, Lot 38
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
covered screened porch
concrete patio
privacy fenced backyard
Building Details
Year built
1971
Floors in Building
1
Number of units
2
Flooring type
Laminate
Building materials
Brick
Roof type
Shingle, Composition
Architectural style
Ranch
Listing Agency:
Anders Pierce Realty, LLC
(830) 214-6002
Listed By:
Kyle Ritter · License #0790743
(830) 998-4412
Added: Sep 23
Last Checked: Sep 27 at 3:06PM
MLS# 626144
Copyright © 2026 Central Texas Multiple Listing Service. 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 1,818-square-foot duplex contains two independent residences: one with three bedrooms and one bathroom, and the other with two bedrooms and one bathroom. Each side has its own entrance, kitchen, bathroom, driveway, and attached single-car garage. Both units are currently leased and separately metered for electric, water, sewer, and garbage. Interior features include laminate flooring, neutral paint, ceiling fans, double closets, and tub-and-shower bathrooms. Appliances include ranges, refrigerators, washers, and dryers.
Built in 1971, the brick ranch-style property occupies a 0.258-acre corner parcel in the Rhine Terrace neighborhood of New Braunfels. Exterior improvements include a screened covered porch, concrete patio, mature pecan trees, and a privacy-fenced rear yard. The property is served by public water and public sewer and is located near I-35, downtown New Braunfels, the Comal River, and the Guadalupe River.
Built in 1971, the brick ranch-style property occupies a 0.258-acre corner parcel in the Rhine Terrace neighborhood of New Braunfels. Exterior improvements include a screened covered porch, concrete patio, mature pecan trees, and a privacy-fenced rear yard. The property is served by public water and public sewer and is located near I-35, downtown New Braunfels, the Comal River, and the Guadalupe River.
Key Highlights
- 1,818‑square‑foot duplex with two separate residences
- Unit mix includes a 3‑bedroom, 1‑bath side and a 2‑bedroom, 1‑bath side
- Both units are currently leased
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
$18,658
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
6.04%
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%
$373,160
$373.2K
Cap Rate 7%
$266,543
$266.5K
Cap Rate 9%
$207,311
$207.3K
Market Conditions
NOI Build-Up for 1,818 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
$29.5K $16.20/SF
− Vacancy
−$2.8K −$1.54/SF
EGI
$26.7K $14.66/SF
− OpEx
−$8.0K −$4.40/SF
NOI
$18.7K $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%
$373,160
Cap Rate 7%
$266,543
Cap Rate 9%
$207,311
Alternative Uses
Best Use
Multifamily LT 5
$266.5K
$233.2K – $311.0K
NOI $18,658 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$231.4K
$202.5K – $270.0K
NOI $16,198 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$463.7K
$405.8K – $541.0K
NOI $32,462 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
Explore this area
Business Placement
Demographics for 78130, TX
88,349
Population
40,810
Households
2.2
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
91.0 sq mi
ZIP Area
971
Density / Sq Mi
$84,426
Median Household Income
$45,253
Median Earnings
$1,525
Median Rent
$296,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 occupied units offer separate utility metering, individual driveways, and attached garages within a fenced corner-lot setting.
Where is this duplex located?
The property is located at 1502 Eichen Road New Braunfels, TX.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: 1,818‑square‑foot duplex with two separate residences; Unit mix includes a 3‑bedroom, 1‑bath side and a 2‑bedroom, 1‑bath side; Both units are currently leased
