Renovated Two-Unit
For Sale
$234,900
2815 S Pine St, San Antonio, TX 78210
Upstairs and downstairs units offer updated interiors, central air and heat, wood flooring, tile, and laundry connections.
Property Size1,620 SF
Price / SF$145
Days on Market178
Property Features for 2815 S Pine St
General Information
Standard status
Active
Size
1,620 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
spacious backyard
washer/dryer connections
Building Details
Year Built
1940
Year Renovated
2023
Listing Agency:
Vortex Realty
Listed By:
Marcus Bledsoe · License #554342
Source:
Pomparealtygroupsa
Added: Mar 13
Changed: Aug 29
Last Checked: Sep 5 at 4:23AM
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 Vortex Realty
Investment Insights
Based on property information with market context.
This 1,620-square-foot duplex contains one residence on each level, creating a clear separation between the upstairs and downstairs units. Built in 1940 and renovated in 2023, the property includes new electrical wiring, central air and heat, ceramic tile, refinished original wood floors, and updated countertops. Washer and dryer connections and a spacious backyard add practical utility.
The property is located in the Highland Park area of San Antonio at 2815 South Pine Street, with access to Downtown, the Alamodome, downtown employers, dining, entertainment, and major roadways. Its two-unit layout supports separate occupancy and rental use, subject to buyer verification of applicable use and regulations.
The property is located in the Highland Park area of San Antonio at 2815 South Pine Street, with access to Downtown, the Alamodome, downtown employers, dining, entertainment, and major roadways. Its two-unit layout supports separate occupancy and rental use, subject to buyer verification of applicable use and regulations.
Key Highlights
- 1,620‑square‑foot duplex with one unit upstairs and one downstairs
- Renovated in 2023 with new electrical wiring, central air and heat, tile, wood floors, and updated countertops
- Spacious backyard and washer/dryer connections
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
$18,646
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
7.94%
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%
$372,920
$372.9K
Cap Rate 7%
$266,371
$266.4K
Cap Rate 9%
$207,178
$207.2K
Market Conditions
NOI Build-Up for 1,620 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
$28.2K $17.40/SF
− Vacancy
−$1.6K −$0.96/SF
EGI
$26.6K $16.44/SF
− OpEx
−$8.0K −$4.93/SF
NOI
$18.6K $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%
$372,920
Cap Rate 7%
$266,371
Cap Rate 9%
$207,178
Alternative Uses
Best Use
Multifamily LT 5
$266.4K
$233.1K – $310.8K
NOI $18,646 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$236.4K
$206.9K – $275.8K
NOI $16,548 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$413.2K
$361.6K – $482.1K
NOI $28,926 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
Explore this area
Business Placement
Demographics for 78210, TX
33,010
Population
14,410
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
76%
High-School Grad
7.3 sq mi
ZIP Area
4,522
Density / Sq Mi
$51,990
Median Household Income
$33,271
Median Earnings
$1,119
Median Rent
$172,700
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 - Upstairs and downstairs units offer updated interiors, central air and heat, wood flooring, tile, and laundry connections.
Where is this duplex located?
The property is located at 2815 S Pine St San Antonio, TX.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: 1,620‑square‑foot duplex with one unit upstairs and one downstairs; Renovated in 2023 with new electrical wiring, central air and heat, tile, wood floors, and updated countertops; Spacious backyard and washer/dryer connections
