Two-Story Duplex with Granite
For Sale
$480,000
2314 Tulipwood Cv, San Antonio, TX
Built in 2021, both units offer upstairs bedrooms and laundry rooms within a gated community.
Property Size2,712 SF
Price / SF$176.99
Days on Market586
Property Features for 2314 Tulipwood Cv
General Information
Standard status
Active
Size
2,712 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,156
Amenities
playground
pavilion
basketball court
Building Details
Stories
2
Listing Agency:
eXp Realty
(888) 519-7431
Listed By:
J.J. Gorena
(210) 367-6024
Source:
Exprealty
Added: Jan 28, 2025
Changed: Sep 5
Last Checked: Sep 5 at 9:11AM
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 eXp Realty
Investment Insights
Based on property information with market context.
Located at 2314 Tulipwood Cove in San Antonio, this 2,712-square-foot duplex was built in 2021 and is set within the gated Lynwood Village community. The two-story layout places the bedrooms and laundry rooms on the upper level, while the main floor provides open living and entertaining space.
Each unit includes an open kitchen with a peninsula, granite countertops, and modern appliances. Cabinet finishes differ between the sides, with one featuring white cabinetry and the other using warm brown tones. Community amenities include a playground, pavilion, basketball court, and front-yard maintenance covered through the HOA. The property also offers access to SeaWorld, Lackland Air Force Base, and major highways.
Each unit includes an open kitchen with a peninsula, granite countertops, and modern appliances. Cabinet finishes differ between the sides, with one featuring white cabinetry and the other using warm brown tones. Community amenities include a playground, pavilion, basketball court, and front-yard maintenance covered through the HOA. The property also offers access to SeaWorld, Lackland Air Force Base, and major highways.
Key Highlights
- 2,712‑square‑foot duplex completed in 2021
- Two‑story design with bedrooms and laundry rooms upstairs
- Open kitchens with peninsula counters, granite surfaces, and modern appliances
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
$31,215
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
6.50%
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%
$624,300
$624.3K
Cap Rate 7%
$445,929
$445.9K
Cap Rate 9%
$346,833
$346.8K
Market Conditions
NOI Build-Up for 2,712 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
$47.2K $17.40/SF
− Vacancy
−$2.6K −$0.96/SF
EGI
$44.6K $16.44/SF
− OpEx
−$13.4K −$4.93/SF
NOI
$31.2K $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%
$624,300
Cap Rate 7%
$445,929
Cap Rate 9%
$346,833
Alternative Uses
Best Use
Multifamily LT 5
$445.9K
$390.2K – $520.3K
NOI $31,215 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$395.8K
$346.3K – $461.7K
NOI $27,703 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$691.8K
$605.3K – $807.1K
NOI $48,425 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,142
Businesses Nearby
Explore this area
Business Placement
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 - Built in 2021, both units offer upstairs bedrooms and laundry rooms within a gated community.
Where is this duplex located?
The property is located at 2314 Tulipwood Cv San Antonio, TX.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 2,712‑square‑foot duplex completed in 2021; Two‑story design with bedrooms and laundry rooms upstairs; Open kitchens with peninsula counters, granite surfaces, and modern appliances
