Four Duplex Multifamily
182 Joiner Dr Bandera, TX 78003
For Sale
$1,498,000
MULTI_FAMILY - Bandera, TX
Property Size5,968 SF
Lot Size5.00 Acres
Price / SF$251.01
Days on Market47
Property Features for 182 Joiner Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RESIDENTIAL
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 Preferred, REALTORS
(210) 483-5000
Listed By:
Charles Acosta
(210) 483-5000
Added: Jun 11
Changed: Jun 12
Last Checked: Jul 27 at 6:06PM
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.
Investment Insights
Based on property information with market context.
This income-producing multifamily property features four duplexes totaling approximately 5 acres. The site also includes roughly two additional acres identified as ready for development. Utility infrastructure is already in place, with water and electricity available to support future construction, helping streamline any expansion plans. The property’s recorded size is 5,968 square feet.
Located at 182 Joiner Dr in Bandera, Texas, the property sits outside the city limits and is approximately 7 minutes from downtown Bandera. The combination of a maintained income-producing setup with on-site room to grow offers a straightforward platform for operators looking to manage existing units while planning for future development.
For investors or developers, the configuration of four duplexes on a multi-acre site can support an owner-operator strategy or a rental portfolio approach, while the additional developable acreage provides a path to add future units. If you’re looking for a multifamily property with current income and an on-site expansion component, this Bandera-area offering is designed to accommodate both near-term operations and longer-range growth planning.
Located at 182 Joiner Dr in Bandera, Texas, the property sits outside the city limits and is approximately 7 minutes from downtown Bandera. The combination of a maintained income-producing setup with on-site room to grow offers a straightforward platform for operators looking to manage existing units while planning for future development.
For investors or developers, the configuration of four duplexes on a multi-acre site can support an owner-operator strategy or a rental portfolio approach, while the additional developable acreage provides a path to add future units. If you’re looking for a multifamily property with current income and an on-site expansion component, this Bandera-area offering is designed to accommodate both near-term operations and longer-range growth planning.
Key Highlights
- Four duplexes on approximately 5 acres, built in 1999
- Central air cooling
- About 2 additional acres ready for development to add more units
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $107.4k | $18.00 |
| − Vacancy | −$10.7k | −$1.80 |
| EGI | $96.7k | $16.20 |
| − OpEx | −$43.5k | −$7.29 |
| NOI | $53.2k | $8.91 |
5,968 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$759.6K
$664.7K – $886.3K
NOI $53,175 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Income-producing duplex complex on five acres outside city limits, with two additional acres available for future development.
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, built in 1999; Central air cooling; About 2 additional acres ready for development to add more units
