Multifamily Property with Central
For Sale
$680,000
1803 Texas, San Antonio, TX 78228
One-story income property with electric central air and a central San Antonio address.
Property Size3,424 SF
Price / SF$198.60
Days on Market20
Property Features for 1803 Texas
General Information
Standard status
Active
Size
3,424 SF
Property subtype
Residential Income
Net Operating Income
$54,271
Taxes and HOA fees
Annual Taxes
$11,323
Amenities
Central Air
Electric, Central
One Story
Building Details
Building Size
3,424 SF
Year Built
1929
Stories
1
Listing Agency:
iHome Realty
(210) 625-2363
Listed By:
Eduardo Arroyos
(210) 625-2363
Source:
Evrealestate
Added: Jul 24
Changed: Aug 9
Last Checked: Aug 12 at 5:31AM
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 iHome Realty
Investment Insights
Based on property information with market context.
This one-story multifamily property contains 3,424 square feet and was built in 1929. Interior systems include central air with electric central service, providing established building infrastructure for the asset.
The property is located at 1803 Texas in San Antonio, Texas, within Bexar County. Access directions reference Bandera Road, Cincinnati Avenue, and Wilson/Texas Avenue.
The property is located at 1803 Texas in San Antonio, Texas, within Bexar County. Access directions reference Bandera Road, Cincinnati Avenue, and Wilson/Texas Avenue.
Key Highlights
- 3,424‑square‑foot multifamily property
- Built in 1929
- One‑story configuration
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
$34,976
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
5.14%
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%
$699,520
$699.5K
Cap Rate 7%
$499,657
$499.7K
Cap Rate 9%
$388,622
$388.6K
Market Conditions
NOI Build-Up for 3,424 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
$67.8K $19.80/SF
− Vacancy
−$4.2K −$1.23/SF
EGI
$63.6K $18.57/SF
− OpEx
−$28.6K −$8.36/SF
NOI
$35.0K $10.21/SF
Area
San Antonio, TX
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$699,520
Cap Rate 7%
$499,657
Cap Rate 9%
$388,622
Alternative Uses
Best Use
Apartment 5plus
$499.7K
$437.2K – $582.9K
NOI $34,976 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$873.4K
$764.2K – $1.02M
NOI $61,138 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,366
Businesses Nearby
Explore this area
Business Placement
Demographics for 78228, TX
56,369
Population
21,397
Households
2.6
Avg Household Size
37
Median Age
14%
College-Educated
74%
High-School Grad
10.9 sq mi
ZIP Area
5,171
Density / Sq Mi
$50,865
Median Household Income
$30,811
Median Earnings
$1,004
Median Rent
$164,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - One-story income property with electric central air and a central San Antonio address.
Where is this multifamily property located?
The property is located at 1803 Texas San Antonio, TX.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: 3,424‑square‑foot multifamily property; Built in 1929; One‑story configuration
