Side-by-Side Duplex with Three-Bedroom
For Sale
$429,000
19959 Fm 306, Canyon Lake, TX 78133
Two-unit residential property with one occupied residence and a recently refreshed unit prepared for occupancy.
Property Size3,238 SF
Price / SF$132.49
Days on Market73
Property Features for 19959 Fm 306
General Information
Standard status
Active
Size
3,238 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1996
Listing Agency:
Premier Town & Country Realty
Listed By:
Lauren Alff
(281) 630-9749
Source:
Kingdomtxrealty
Added: Aug 7
Changed: Oct 15
Last Checked: Oct 7 at 3:32PM
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 Premier Town & Country Realty
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Investment Insights
Based on property information with market context.
This side-by-side duplex includes two residences, each arranged with three bedrooms and two bathrooms. Both units are equipped with a refrigerator, washer, and dryer. One residence is occupied, while the second has been recently refreshed and is ready for occupancy, creating a property with an established rental component and additional leasing availability.
The property is located at 19959 FM 306 in Canyon Lake, Texas, near shopping, dining, schools, Canyon Lake amenities, and commuter routes. Its placement away from the roadway provides separation from passing traffic, while on-site parking supports both residences. The configuration also accommodates an owner-occupant seeking a separate second unit, as expressly supported by the property’s two-residence layout.
The property is located at 19959 FM 306 in Canyon Lake, Texas, near shopping, dining, schools, Canyon Lake amenities, and commuter routes. Its placement away from the roadway provides separation from passing traffic, while on-site parking supports both residences. The configuration also accommodates an owner-occupant seeking a separate second unit, as expressly supported by the property’s two-residence layout.
Key Highlights
- Two side‑by‑side residential units
- Each unit includes 3 bedrooms and 2 bathrooms
- One unit is occupied; the second was recently refreshed and is ready for occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,231
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,620
$664.6K
Cap Rate 7%
$474,729
$474.7K
Cap Rate 9%
$369,233
$369.2K
Market Conditions
NOI Build-Up for 3,238 SF
Gross rent
$52.5K $16.20/SF
− Vacancy
−$5.0K −$1.54/SF
EGI
$47.5K $14.66/SF
− OpEx
−$14.2K −$4.40/SF
NOI
$33.2K $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 Rate 5%
$664,620
Cap Rate 7%
$474,729
Cap Rate 9%
$369,233
Alternative Uses
Best Use
Multifamily LT 5
$474.7K
$415.4K – $553.9K
NOI $33,231 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$412.2K
$360.6K – $480.9K
NOI $28,851 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$826.0K
$722.7K – $963.6K
NOI $57,817 @ 7.0% cap · market cap 13.48%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
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Business Placement
Demographics for 78133, TX
20,787
Population
11,208
Households
1.9
Avg Household Size
52
Median Age
33%
College-Educated
94%
High-School Grad
75.5 sq mi
ZIP Area
275
Density / Sq Mi
$80,777
Median Household Income
$45,470
Median Earnings
$1,236
Median Rent
$300,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with one occupied residence and a recently refreshed unit prepared for occupancy.
Where is this duplex located?
The property is located at 19959 Fm 306 Canyon Lake, TX.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Two side‑by‑side residential units; Each unit includes 3 bedrooms and 2 bathrooms; One unit is occupied; the second was recently refreshed and is ready for occupancy
