3-Unit Triplex
For Sale
$200,000
2311 El Paso St, San Antonio, TX 78207
Three-unit residential income property near downtown San Antonio with a 1926 construction date.
Property Size528 SF
Price / SF$378.79
Days on Market44
Property Features for 2311 El Paso St
General Information
Standard status
Active
Size
528 SF
Property subtype
Multi-Family
Building Details
Year Built
1926
Listing Agency:
Keller Williams Heritage
(210) 365-6192
Listed By:
Scott Malouff · License #658231
Source:
Drialtor
Added: Jul 20
Changed: Aug 31
Last Checked: Aug 30 at 8:27PM
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 Keller Williams Heritage
Investment Insights
Based on property information with market context.
This residential income property is configured as a triplex with three units. The improvements date to 1926, providing an established multifamily asset at 2311 El Paso St.
The property is near downtown San Antonio in the 78207 ZIP code. Its triplex configuration supports separate residential units within one investment property.
The property is near downtown San Antonio in the 78207 ZIP code. Its triplex configuration supports separate residential units within one investment property.
Key Highlights
- Three‑unit triplex configuration
- Built in 1926
- Near downtown San Antonio
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
$6,077
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
3.04%
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%
$121,540
$121.5K
Cap Rate 7%
$86,814
$86.8K
Cap Rate 9%
$67,522
$67.5K
Market Conditions
NOI Build-Up for 528 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
$9.2K $17.40/SF
− Vacancy
−$505 −$0.96/SF
EGI
$8.7K $16.44/SF
− OpEx
−$2.6K −$4.93/SF
NOI
$6.1K $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%
$121,540
Cap Rate 7%
$86,814
Cap Rate 9%
$67,522
Alternative Uses
Best Use
Multifamily LT 5
$86.8K
$76.0K – $101.3K
NOI $6,077 @ 7.0% cap · market cap 3.04%
Second Best
Apartment 5plus
$77.0K
$67.4K – $89.9K
NOI $5,393 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$134.7K
$117.9K – $157.1K
NOI $9,428 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,016
Businesses Nearby
Explore this area
Business Placement
Demographics for 78207, TX
51,705
Population
18,750
Households
2.8
Avg Household Size
34
Median Age
6%
College-Educated
62%
High-School Grad
7.3 sq mi
ZIP Area
7,083
Density / Sq Mi
$30,655
Median Household Income
$23,696
Median Earnings
$857
Median Rent
$93,200
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?
Triplex - Three-unit residential income property near downtown San Antonio with a 1926 construction date.
Where is this triplex located?
The property is located at 2311 El Paso St San Antonio, TX.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Three‑unit triplex configuration; Built in 1926; Near downtown San Antonio
