Four-Duplex Multifamily
For Sale
$1,498,000
182 Joiner Dr, Bandera, TX 78003
Existing rental buildings occupy a substantial site with water and electricity available for additional construction.
Property Size5,968 SF
Lot Size5.00 Acres
Price / SF$251.01
Days on Market68
Property Features for 182 Joiner Dr
General Information
Standard status
Active
Size
5,968 SF
Lot size
5.00 Acres
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
8
Building Details
Year Built
1999
Buildings
4
Listing Agency:
RE/MAX Preferred, REALTORS
Listed By:
Charles Acosta
(210) 483-5000
Source:
Thebranchinc
Added: Aug 7
Changed: Oct 7
Last Checked: Oct 7 at 5:17PM
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 RE/MAX Preferred, REALTORS
Investment Insights
Based on property information with market context.
Located at 182 Joiner Dr, this multifamily property includes four duplexes totaling 5,968 SF on approximately 5 acres. The improvements were built in 1999, providing an established residential income asset outside the city limits of Bandera.
Approximately 2 additional acres are identified for future development, with water and electricity available to support construction. The property is 7 minutes from downtown Bandera and remains near shopping, dining, schools, and entertainment while maintaining a setting outside the city limits.
Approximately 2 additional acres are identified for future development, with water and electricity available to support construction. The property is 7 minutes from downtown Bandera and remains near shopping, dining, schools, and entertainment while maintaining a setting outside the city limits.
Key Highlights
- Four duplexes on approximately 5 acres
- 5,968 SF of multifamily improvements
- Built in 1999
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,248
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,224,960
$1.2M
Cap Rate 7%
$874,971
$875.0K
Cap Rate 9%
$680,533
$680.5K
Market Conditions
NOI Build-Up for 5,968 SF
Gross rent
$96.7K $16.20/SF
− Vacancy
−$9.2K −$1.54/SF
EGI
$87.5K $14.66/SF
− OpEx
−$26.2K −$4.40/SF
NOI
$61.2K $10.26/SF
Area
Bandera 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 Rate 5%
$1,224,960
Cap Rate 7%
$874,971
Cap Rate 9%
$680,533
Alternative Uses
Best Use
Multifamily LT 5
$875.0K
$765.6K – $1.02M
NOI $61,248 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$759.6K
$664.7K – $886.3K
NOI $53,175 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,563 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 78003, TX
9,595
Population
5,194
Households
1.8
Avg Household Size
53
Median Age
24%
College-Educated
91%
High-School Grad
226.7 sq mi
ZIP Area
42
Density / Sq Mi
$54,500
Median Household Income
$35,179
Median Earnings
$1,096
Median Rent
$233,100
Median Home Value
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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?
Multifamily property - Existing rental buildings occupy a substantial site with water and electricity available for additional construction.
Where is this multifamily property located?
The property is located at 182 Joiner Dr Bandera, TX.
What is the asking price?
The asking price for this property is $1,498,000.
What are key features of this property?
This property features: Four duplexes on approximately 5 acres; 5,968 SF of multifamily improvements; Built in 1999
