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 Market31
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
(726) 245-8941
Listed By:
Shane Neal
Source:
Theswinneygroup
Added: Jul 30
Changed: Aug 28
Last Checked: Aug 25 at 5:44AM
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 = 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
$13,793
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
6.97%
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%
$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
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
$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 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%
$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.
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
