Two-Unit Cabin-Style
For Sale
$200,000
297 Chaparral Dr, Bandera, TX 78003
Recently built duplex with separate one-bedroom, one-bath units and flexible occupancy options.
Property Size882 SF
Price / SF$226.76
Days on Market22
Property Features for 297 Chaparral Dr
General Information
Standard status
Active
Size
882 SF
Property subtype
Multi-Family
Building Details
Year Built
2022
Listing Agency:
eXp Realty
(726) 245-8941
Listed By:
Shane Neal
Source:
Thebranchinc
Added: Aug 8
Changed: Aug 29
Last Checked: Aug 29 at 3:05PM
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.
This 882-square-foot duplex, completed in 2022, contains two separate units, each arranged with one bedroom and one bathroom. The cabin-style property is configured for residential income use, with one side currently occupied and the second available for owner occupancy or a future rental arrangement.
Located at 297 Chaparral Dr in Bandera, the property is near a creek and Medina Lake and offers Hill Country views. The two-unit layout provides a straightforward small-scale rental configuration, while the existing occupancy adds an established income component.
Located at 297 Chaparral Dr in Bandera, the property is near a creek and Medina Lake and offers Hill Country views. The two-unit layout provides a straightforward small-scale rental configuration, while the existing occupancy adds an established income component.
Key Highlights
- Two‑unit duplex totaling 882 square feet
- Built in 2022
- Each unit includes 1 bedroom and 1 bathroom
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
$9,052
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
4.53%
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%
$181,040
$181.0K
Cap Rate 7%
$129,314
$129.3K
Cap Rate 9%
$100,578
$100.6K
Market Conditions
NOI Build-Up for 882 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
$14.3K $16.20/SF
− Vacancy
−$1.4K −$1.54/SF
EGI
$12.9K $14.66/SF
− OpEx
−$3.9K −$4.40/SF
NOI
$9.1K $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%
$181,040
Cap Rate 7%
$129,314
Cap Rate 9%
$100,578
Alternative Uses
Best Use
Multifamily LT 5
$129.3K
$113.2K – $150.9K
NOI $9,052 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$112.3K
$98.2K – $131.0K
NOI $7,859 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$225.0K
$196.9K – $262.5K
NOI $15,749 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Recently built duplex with separate one-bedroom, one-bath units and flexible occupancy options.
Where is this duplex located?
The property is located at 297 Chaparral Dr Bandera, TX.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 882 square feet; Built in 2022; Each unit includes 1 bedroom and 1 bathroom
