Duplex with Metal
For Sale
$198,000
289 Chaparral Dr, Bandera, TX 78003
Two-bedroom units feature high ceilings and laminate flooring.
Property Size1,344 SF
Price / SF$147.32
Days on Market76
Property Features for 289 Chaparral Dr
General Information
Standard status
Active
Size
1,344 SF
Property subtype
Multi-Family
Occupancy
50%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,175
Building Details
Year Built
2018
Buildings
1
Listing Agency:
eXp Realty
Listed By:
Shane Neal
(726) 245-8941
Source:
Theswinneygroup
Added: Jul 30
Changed: Oct 7
Last Checked: Oct 13 at 1:49AM
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.
Built in 2018, this duplex at 289 Chaparral Dr includes two 2-bedroom, 1-bath units totaling 1,344 square feet. Interior details include high ceilings and laminate flooring, while the building is topped with a metal roof. One unit is occupied, and the second is ready for occupancy.
The property is within the gated Enchanted River Estates near Bandera, positioned between the Medina River and a nearby creek. Its setting combines a residential layout with access to the community’s Hill Country surroundings.
The property is within the gated Enchanted River Estates near Bandera, positioned between the Medina River and a nearby creek. Its setting combines a residential layout with access to the community’s Hill Country surroundings.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- 1,344 square feet total
- Built in 2018
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,793
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,860
$275.9K
Cap Rate 7%
$197,043
$197.0K
Cap Rate 9%
$153,256
$153.3K
Market Conditions
NOI Build-Up for 1,344 SF
Gross rent
$21.8K $16.20/SF
− Vacancy
−$2.1K −$1.54/SF
EGI
$19.7K $14.66/SF
− OpEx
−$5.9K −$4.40/SF
NOI
$13.8K $10.26/SF
Area
Bandera County, TX
Vacancy
9.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,860
Cap Rate 7%
$197,043
Cap Rate 9%
$153,256
Alternative Uses
Best Use
Multifamily LT 5
$197.0K
$172.4K – $229.9K
NOI $13,793 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$171.1K
$149.7K – $199.6K
NOI $11,975 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$342.8K
$300.0K – $400.0K
NOI $23,998 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 78003, TX
9,595
Population
5,194
Households
1.8
Avg Household Size
53
Median Age
24%
College-Educated
91%
High-School Grad
226.7 sq mi
ZIP Area
42
Density / Sq Mi
$54,500
Median Household Income
$35,179
Median Earnings
$1,096
Median Rent
$233,100
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 - Two-bedroom units feature high ceilings and laminate flooring.
Where is this duplex located?
The property is located at 289 Chaparral Dr Bandera, TX.
What is the asking price?
The asking price for this property is $198,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; 1,344 square feet total; Built in 2018
