Two-Unit Duplex with Rental
For Sale
$365,000
Pending
2242 Eastman Ave, New Braunfels, TX 78130
One residence is leased while the other is vacant and move-in ready.
Property Size2,511 SF
Days on Market137
Property Features for 2242 Eastman Ave
General Information
Standard status
Pending
Size
2,511 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,955
Building Details
Year Built
1995
Buildings
1
Tenancy
Single
Listing Agency:
Wakefield, REALTORS
(210) 279-5036
Listed By:
Cody Wakefield
(210) 279-5036
Source:
Exprealty
Added: Apr 18
Changed: Aug 30
Last Checked: Aug 31 at 6:43PM
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 Wakefield, REALTORS
Investment Insights
Based on property information with market context.
Located at 2242 Eastman Ave in New Braunfels, this duplex contains 2,511 square feet arranged as two separate residences. Each unit includes 3 bedrooms and 2 full bathrooms, with functional living areas and practical room layouts. Constructed in 1995, the property is described as well maintained.
The current configuration supports both investment and owner-occupant use: one unit is leased, while the other is vacant and ready for occupancy. The oversized lot provides space for RV parking, and the property information also identifies potential for an additional multifamily improvement. Local access includes nearby amenities, shopping, dining, and major thoroughfares.
The current configuration supports both investment and owner-occupant use: one unit is leased, while the other is vacant and ready for occupancy. The oversized lot provides space for RV parking, and the property information also identifies potential for an additional multifamily improvement. Local access includes nearby amenities, shopping, dining, and major thoroughfares.
Key Highlights
- 2,511‑square‑foot duplex with two separate units
- Each unit offers 3 bedrooms and 2 full bathrooms
- One unit is leased; the second is vacant and move‑in ready
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
$25,770
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
7.06%
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%
$515,400
$515.4K
Cap Rate 7%
$368,143
$368.1K
Cap Rate 9%
$286,333
$286.3K
Market Conditions
NOI Build-Up for 2,511 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
$40.7K $16.20/SF
− Vacancy
−$3.9K −$1.54/SF
EGI
$36.8K $14.66/SF
− OpEx
−$11.0K −$4.40/SF
NOI
$25.8K $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 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%
$515,400
Cap Rate 7%
$368,143
Cap Rate 9%
$286,333
Alternative Uses
Best Use
Multifamily LT 5
$368.1K
$322.1K – $429.5K
NOI $25,770 @ 7.0% cap · market cap 7.06%
Second Best
Apartment 5plus
$319.6K
$279.7K – $372.9K
NOI $22,373 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$640.5K
$560.5K – $747.3K
NOI $44,836 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
Explore this area
Business Placement
Demographics for 78130, TX
88,349
Population
40,810
Households
2.2
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
91.0 sq mi
ZIP Area
971
Density / Sq Mi
$84,426
Median Household Income
$45,253
Median Earnings
$1,525
Median Rent
$296,300
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 - One residence is leased while the other is vacant and move-in ready.
Where is this duplex located?
The property is located at 2242 Eastman Ave New Braunfels, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 2,511‑square‑foot duplex with two separate units; Each unit offers 3 bedrooms and 2 full bathrooms; One unit is leased; the second is vacant and move‑in ready
