Two-Unit Duplex with Wood
New
For Sale
$155,000
2236 N Interstate 35, San Antonio, TX 78208
Two one-bedroom units include central heat and air along with refrigerator and stove appliances.
Property Size1,276 SF
Price / SF$121.47
Days on Market2
Property Features for 2236 N Interstate 35
General Information
Standard status
Active
Size
1,276 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1959
Listing Agency:
E M Ellis Realty LLC
Listed By:
Salina Shelton
(210) 509-3409
Source:
Thebranchinc
Added: Sep 4
Last Checked: Sep 5 at 9:52AM
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 E M Ellis Realty LLC
Investment Insights
Based on property information with market context.
This 1,276-square-foot duplex contains two one-bedroom, one-bath units. Both sides feature wood flooring, central heat and air, a refrigerator, and a stove. Interior improvements include fresh paint and refurbished wood floors. Built in 1959, the property offers a clearly defined two-unit configuration with updated interior finishes.
The duplex is located near Fort Sam Houston at 2236 N Interstate 35 in San Antonio. Its separate unit layout supports occupancy of one side while the other is rented, as described for the property.
The duplex is located near Fort Sam Houston at 2236 N Interstate 35 in San Antonio. Its separate unit layout supports occupancy of one side while the other is rented, as described for the property.
Key Highlights
- Two 1/1 units within a duplex
- 1,276 SF property built in 1959
- Refurbished wood floors throughout
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
$13,034
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
8.41%
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%
$260,680
$260.7K
Cap Rate 7%
$186,200
$186.2K
Cap Rate 9%
$144,822
$144.8K
Market Conditions
NOI Build-Up for 1,276 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
$25.3K $19.80/SF
− Vacancy
−$1.6K −$1.23/SF
EGI
$23.7K $18.57/SF
− OpEx
−$10.7K −$8.36/SF
NOI
$13.0K $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%
$260,680
Cap Rate 7%
$186,200
Cap Rate 9%
$144,822
Alternative Uses
Best Use
Multifamily LT 5
$209.8K
$183.6K – $244.8K
NOI $14,687 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$186.2K
$162.9K – $217.2K
NOI $13,034 @ 7.0% cap · market cap 8.41%
Theoretical Best
Office A
$325.5K
$284.8K – $379.7K
NOI $22,784 @ 7.0% cap · market cap 14.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
536
Businesses Nearby
Explore this area
Business Placement
Demographics for 78208, TX
3,874
Population
2,292
Households
1.7
Avg Household Size
35
Median Age
13%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
3,874
Density / Sq Mi
$23,194
Median Household Income
$26,136
Median Earnings
$894
Median Rent
$125,000
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?
Duplex - Two one-bedroom units include central heat and air along with refrigerator and stove appliances.
Where is this duplex located?
The property is located at 2236 N Interstate 35 San Antonio, TX.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: Two 1/1 units within a duplex; 1,276 SF property built in 1959; Refurbished wood floors throughout
