Two-Unit Income
297 Chaparral Dr Bandera, TX 78003
For Sale
$200,000
MULTI_FAMILY - Bandera, TX
Property Size882 SF
Lot Size0.23 Acres
Price / SF$226.76
Days on Market43
Property Features for 297 Chaparral Dr
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- Size
- 882 SF
- Lot size
- 0.23 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2483
Building Details
- Year built
- 2022
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# 1940930
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 two-unit income property consists of two separate cabins, each featuring 1 bedroom and 1 bathroom. The total layout provides 2 bedrooms and 2 bathrooms across 882 square feet on a 0.231-acre lot. According to the current listing, one unit is already rented, creating immediate rental income, while the second unit offers flexibility for an owner-occupant or an additional rental arrangement.
The property is located at 297 Chaparral Dr in Bandera, TX 78003. The listing describes the setting as being near the heart of Bandera with Hill Country views, and close to a creek and Medina Lake.
For investors or buyers seeking a straightforward duplex-style setup, this configuration can support hands-on rental management with two independent units. The current occupancy gives one side of the property an established income stream, while the other unit can be positioned based on the next operator’s plans. The listing also notes the possibility of purchasing this property separately or together with 289 Chaparral, offering additional structuring options for an owner looking to consolidate holdings.
The property is located at 297 Chaparral Dr in Bandera, TX 78003. The listing describes the setting as being near the heart of Bandera with Hill Country views, and close to a creek and Medina Lake.
For investors or buyers seeking a straightforward duplex-style setup, this configuration can support hands-on rental management with two independent units. The current occupancy gives one side of the property an established income stream, while the other unit can be positioned based on the next operator’s plans. The listing also notes the possibility of purchasing this property separately or together with 289 Chaparral, offering additional structuring options for an owner looking to consolidate holdings.
Key Highlights
- Income‑producing 2‑unit cabin property built in 2022 near Bandera
- Each unit has 1 bedroom and 1 bathroom (total 2 beds, 2 baths)
- One unit is currently rented for immediate rental income
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 | $14.3k | $16.20 |
| − Vacancy | −$1.4k | −$1.54 |
| EGI | $12.9k | $14.66 |
| − OpEx | −$3.9k | −$4.40 |
| NOI | $9.1k | $10.26 |
882 SF · lease $16.20/SF/yr · vacancy 9.50% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two 1-bedroom, 1-bath units near Bandera, with one currently rented and the second available for flexibility.
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: Income‑producing 2‑unit cabin property built in 2022 near Bandera; Each unit has 1 bedroom and 1 bathroom (total 2 beds, 2 baths); One unit is currently rented for immediate rental income
