Duplex With Refreshed
New
For Sale
$155,000
2236 N Interstate 35, San Antonio, TX 78208
Multi-Family (2-8 Units), San Antonio, TX
Property Size1,276 SF
Lot Size0.14 Acres
Price / SF$121.47
Days on Market3
Property Features for 2236 N Interstate 35
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MULTI FAMILY
Elementary school
Call District
Middle school
Call District
High school
Call District
Elementary school district
San Antonio I.S.D.
Middle school district
San Antonio I.S.D.
High school district
San Antonio I.S.D.
Subdivision
1200
Standard status
Active
Size
1,276 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
3028
Utilities
Cooling system
Central Air
Amenities
wood floors
central heat and air
refrigerator
stove
Building Details
Year built
1959
Listing Agency:
E M Ellis Realty LLC
(210) 509-3409
Listed By:
Salina Shelton
(210) 274-6863
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 2 at 5:06PM
MLS# 2012867
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 duplex contains two separate one-bedroom, one-bath residences totaling 1,276 square feet. Built in 1959, the property has wood flooring, central air, central heat, a refrigerator, and a stove. Interior updates include fresh paint and refurbished wood floors, providing a move-in-ready configuration for both sides.
The 0.141-acre property is zoned MULTI FAMILY and is located near Fort Sam Houston in San Antonio. Its two-unit layout supports occupancy of one residence while the other is rented, as described in the property information.
The 0.141-acre property is zoned MULTI FAMILY and is located near Fort Sam Houston in San Antonio. Its two-unit layout supports occupancy of one residence while the other is rented, as described in the property information.
Key Highlights
- Two‑unit duplex with a 1/1 layout on each side
- 1,276 square feet on a 0.141‑acre lot
- Refurbished wood flooring and freshly painted interiors
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 residences offer central HVAC and included kitchen appliances within a multifamily property.
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‑unit duplex with a 1/1 layout on each side; 1,276 square feet on a 0.141‑acre lot; Refurbished wood flooring and freshly painted interiors
