Two-Unit Duplex with Metal
289 Chaparral Dr Bandera, TX 78003
For Sale
$198,000
MULTI_FAMILY - Bandera, TX
Property Size1,344 SF
Lot Size0.24 Acres
Price / SF$147.32
Days on Market43
Property Features for 289 Chaparral Dr
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- Size
- 1,344 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2950
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 2018
Listing Agency:
eXp Realty
(888) 519-7431
Listed By:
Shane Neal
(888) 519-7431
Added: Jun 12
Changed: Jun 13
Last Checked: Jul 24 at 11:06PM
MLS# 1940929
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.
This duplex-style property contains two separate units, each configured with 2 bedrooms and 1 bathroom. The interior features high ceilings and laminate flooring, and the home is covered by a durable metal roof. The property is currently set up with one side rented and the other side ready for occupancy.
The address is 289 Chaparral Dr in the Enchanted River Estates, a gated community near the heart of Bandera. The property is described as being positioned between the Medina River and a nearby creek, with Hill Country views.
For tenants, buyers, or owner-occupants, the layout supports day-to-day living for either a live-in arrangement or a traditional rental setup, with both units sharing the same bedroom and bathroom configuration. The metal roof and laminate flooring are already in place, reducing near-term work for an operator. Since one unit is already generating rental income and the other is ready to lease or occupy, the property can suit buyers looking for immediate income stream potential alongside flexibility for the second unit.
The address is 289 Chaparral Dr in the Enchanted River Estates, a gated community near the heart of Bandera. The property is described as being positioned between the Medina River and a nearby creek, with Hill Country views.
For tenants, buyers, or owner-occupants, the layout supports day-to-day living for either a live-in arrangement or a traditional rental setup, with both units sharing the same bedroom and bathroom configuration. The metal roof and laminate flooring are already in place, reducing near-term work for an operator. Since one unit is already generating rental income and the other is ready to lease or occupy, the property can suit buyers looking for immediate income stream potential alongside flexibility for the second unit.
Key Highlights
- High‑income potential: Duplex generates $2,350/month total rental income with one unit already rented.
- Prime location in gated Enchanted River Estates near Bandera, between the Medina River and a creek, offering Hill Country views.
- Investment/Owner‑Occupant Opportunity: Ideal for investors or owner‑occupants.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.8k | $16.20 |
| − Vacancy | −$2.1k | −$1.54 |
| EGI | $19.7k | $14.66 |
| − OpEx | −$5.9k | −$4.40 |
| NOI | $13.8k | $10.26 |
1,344 SF · lease $16.20/SF/yr · vacancy 9.50% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Gated-community duplex with two 2-bedroom, 1-bath units, one currently rented and the other ready to occupy.
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: High‑income potential: Duplex generates $2,350/month total rental income with one unit already rented.; Prime location in gated Enchanted River Estates near Bandera, between the Medina River and a creek, offering Hill Country views.; Investment/Owner‑Occupant Opportunity: Ideal for investors or owner‑occupants.
