Four-Duplex Apartment
For Sale
$1,498,000
182 Joiner Dr, Bandera, TX 78003
Multi-Family (2-8 Units), Bandera, TX
Property Size5,968 SF
Lot Size5.00 Acres
Price / SF$251.01
Days on Market138
Property Features for 182 Joiner Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RESIDENTIAL
Elementary school
Alkek
Middle school
Bandera
High school
Bandera
Elementary school district
Bandera Isd
Middle school district
Bandera Isd
High school district
Bandera Isd
Subdivision
2400
Standard status
Active
Size
5,968 SF
Lot size
5.00 Acres
Taxes and HOA fees
Tax Annual Amount
3589
Utilities
Cooling system
Central Air
Building Details
Year built
1999
Listing Agency:
RE/MAX Associates Boerne · RE/MAX International
(210) 483-5000
Listed By:
Charles Acosta
(210) 392-2745
Added: Jun 12
Changed: Sep 2
Last Checked: Oct 27 at 11:06PM
MLS# 1991102
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.
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Investment Insights
Based on property information with market context.
This multifamily property comprises four duplexes totaling 5,968 square feet on approximately 5 acres. Built in 1999, the buildings have central air and are located in a residential-zoned setting outside the city limits.
Approximately 2 additional acres are identified as ready for development, with water and electricity available to support future construction. The property is about 7 minutes from downtown Bandera, combining proximity to the city center with a rural setting.
Approximately 2 additional acres are identified as ready for development, with water and electricity available to support future construction. The property is about 7 minutes from downtown Bandera, combining proximity to the city center with a rural setting.
Key Highlights
- Four duplexes on approximately 5 acres
- 5,968 square feet of multifamily improvements
- Approximately 2 acres ready for development
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.
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Property Analytics
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Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7
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
Frequently Asked Questions
What type of property is this?
Apartment building - Four duplexes provide an existing multifamily configuration with central air.
Where is this apartment building 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 square feet of multifamily improvements; Approximately 2 acres ready for development
