Multifamily Property with Additional
For Sale
$300,000
228 West Ansley Street, San Antonio, TX 78221
Duplex configuration with a separate rear residence on a level, tree-lined parcel.
Property Size1,430 SF
Price / SF$209.79
Days on Market693
Property Features for 228 West Ansley Street
General Information
Standard status
Active
Size
1,430 SF
Property subtype
Multi-Family / One Story
Zoning
R-6
Net Operating Income
$10,190
Taxes and HOA fees
Annual Taxes
$8,592
Amenities
Ceramic Tile
Composition
Slab
Pre-Owned
Conventional, FHA, VA, Cash
Mature Trees, Cable TV Available, Level
Building Details
Year Built
1971
Listing Agency:
White Line Realty LLC
Listed By:
Pedro Fuentes
(210) 861-7383
Source:
Compass
Added: Oct 14, 2024
Changed: Sep 2
Last Checked: Aug 31 at 3:23AM
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 White Line Realty LLC
Investment Insights
Based on property information with market context.
This multifamily property includes a duplex with two 2-bedroom, 1-bath units, plus a detached 3-bedroom, 1-bath residence positioned at the rear. The combined property size is 1,430 square feet, and interiors feature ceramic tile. Built in 1971, the improvements sit on a level 1-acre lot with mature trees.
The property is located at 228 West Ansley Street in San Antonio, Texas, and carries R-6 zoning. Its layout provides multiple residential living spaces within one property, with the detached rear unit adding a distinct component to the overall configuration.
The property is located at 228 West Ansley Street in San Antonio, Texas, and carries R-6 zoning. Its layout provides multiple residential living spaces within one property, with the detached rear unit adding a distinct component to the overall configuration.
Key Highlights
- Duplex includes two 2‑bedroom, 1‑bath units
- Detached rear unit offers 3 bedrooms and 1 bath
- 1,430‑square‑foot property on a 1‑acre lot
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
$16,459
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
5.49%
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%
$329,180
$329.2K
Cap Rate 7%
$235,129
$235.1K
Cap Rate 9%
$182,878
$182.9K
Market Conditions
NOI Build-Up for 1,430 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
$24.9K $17.40/SF
− Vacancy
−$1.4K −$0.96/SF
EGI
$23.5K $16.44/SF
− OpEx
−$7.1K −$4.93/SF
NOI
$16.5K $11.51/SF
Area
San Antonio, TX
Vacancy
5.50%
Lease Rate
$17.40 /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%
$329,180
Cap Rate 7%
$235,129
Cap Rate 9%
$182,878
Alternative Uses
Best Use
Multifamily LT 5
$235.1K
$205.7K – $274.3K
NOI $16,459 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$208.7K
$182.6K – $243.5K
NOI $14,607 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$364.8K
$319.2K – $425.6K
NOI $25,534 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Explore this area
Business Placement
Demographics for 78221, TX
39,779
Population
14,939
Households
2.7
Avg Household Size
35
Median Age
12%
College-Educated
74%
High-School Grad
36.3 sq mi
ZIP Area
1,096
Density / Sq Mi
$63,114
Median Household Income
$33,439
Median Earnings
$1,147
Median Rent
$157,500
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?
Multifamily property - Duplex configuration with a separate rear residence on a level, tree-lined parcel.
Where is this multifamily property located?
The property is located at 228 West Ansley Street San Antonio, TX.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Duplex includes two 2‑bedroom, 1‑bath units; Detached rear unit offers 3 bedrooms and 1 bath; 1,430‑square‑foot property on a 1‑acre lot
