Duplex in Gated
For Sale
$480,000
2314 TULIPWOOD COVE, San Antonio, TX 78245
MULTI_FAMILY - San Antonio, TX
Property Size2,712 SF
Lot Size0.12 Acres
Price / SF$176.99
Days on Market51
Property Features for 2314 TULIPWOOD COVE
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Big Country
Middle school
Scobee Jr High
High school
John Jay
Elementary school district
Southwest I.S.D.
Middle school district
Southwest I.S.D.
High school district
Southwest I.S.D.
Subdivision
0200
Standard status
Active
Size
2,712 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
8157
HOA Fee
$900 Annually
Utilities
Cooling system
Central Air
Building Details
Year built
2021
Listing Agency:
eXp Realty
(888) 519-7431
Listed By:
J.j. Gorena
(888) 519-7431
Added: Jun 23
Changed: Jun 24
Last Checked: Aug 12 at 8:06PM
MLS# 1837957
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.
Located in the gated community of Lynwood Village, this duplex offers access to SeaWorld, Lackland Air Force Base, and major highways. The two-story layout features all bedrooms and the laundry room upstairs. The main floor provides space for relaxation and entertainment. The open-concept kitchen includes a peninsula, granite countertops, and appliances. Each side of the duplex features different cabinetry, one with white and the other with warm brown. Community amenities include a playground, pavilion, basketball court, and front yard maintenance, all covered by the HOA fee. The property size is 2712 square feet and the lot size is 0.119 acres.
Key Highlights
- Prime Location: Gated community in Lynwood Village with easy access to SeaWorld, Lackland AFB, and major highways.
- Modern Kitchen: Open‑concept design with granite countertops and modern appliances.
- Convenient Layout: All bedrooms and laundry room located upstairs.
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
$28,417
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
5.92%
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%
$568,340
$568.3K
Cap Rate 7%
$405,957
$406.0K
Cap Rate 9%
$315,744
$315.7K
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
$43.0K $15.84/SF
− Vacancy
−$2.4K −$0.87/SF
EGI
$40.6K $14.97/SF
− OpEx
−$12.2K −$4.49/SF
NOI
$28.4K $10.48/SF
Area
ZIP 78245
Vacancy
5.50%
Lease Rate
$15.84 /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%
$568,340
Cap Rate 7%
$405,957
Cap Rate 9%
$315,744
Alternative Uses
Best Use
Multifamily LT 5
$406.0K
$355.2K – $473.6K
NOI $28,417 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$376.5K
$329.5K – $439.3K
NOI $26,357 @ 7.0% cap · market cap 5.49%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Explore this area
Business Placement
Demographics for 78245, TX
93,031
Population
32,219
Households
2.9
Avg Household Size
31
Median Age
26%
College-Educated
91%
High-School Grad
35.2 sq mi
ZIP Area
2,643
Density / Sq Mi
$87,890
Median Household Income
$43,165
Median Earnings
$1,563
Median Rent
$241,500
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?
Duplex - Charming duplex in San Antonio near SeaWorld and Lackland AFB.
Where is this duplex located?
The property is located at 2314 TULIPWOOD COVE 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: Prime Location: Gated community in Lynwood Village with easy access to SeaWorld, Lackland AFB, and major highways.; Modern Kitchen: Open‑concept design with granite countertops and modern appliances.; Convenient Layout: All bedrooms and laundry room located upstairs.
