Income Duplex with Two 1BR/1BA
297 Chaparral Drive Bandera, TX 78003
297 Chaparral Drive, Bandera, TX, 78003
$235,000
For Sale
$235,000
Duplex includes two 1-bedroom, 1-bath units, with one unit currently rented for immediate income.
Property Size882 SF
Price / SF$266.44
Days on Market168
Property Features for 297 Chaparral Drive
General Information
- Standard status
- Active
- Size
- 882 SF
- Property subtype
- Multi-Family / One Story
Building Details
- Year Built
- 2022
Listing agency
eXp Realty
(726) 245-8941
Listed by
Shane Neal
(726) 245-8941
Source
Compass
Added: Feb 3 Updated: Jul 20 at 5:36PM Checked: Jul 21 at 7:01AM
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 income-producing duplex offers a live-in-one, rent-the-other configuration with two separate units. Each side features one bedroom and one bathroom. One unit is currently rented, while the other provides flexibility for owner occupancy or continued rental use.
The property is located near the heart of Bandera and is described as being close to a creek and Medina Lake, with views of the Hill Country.
The duplex consists of a total of two bedrooms and two bathrooms across both units. The property may be purchased separately or together with 289 Chaparral for additional versatility.
The property is located near the heart of Bandera and is described as being close to a creek and Medina Lake, with views of the Hill Country.
The duplex consists of a total of two bedrooms and two bathrooms across both units. The property may be purchased separately or together with 289 Chaparral for additional versatility.
Key Highlights
- Income‑producing duplex with two units, each offering 1 bedroom and 1 bathroom (2 beds, 2 baths total).
- One unit currently rented for immediate income; the other provides flexibility for owner occupancy or additional rental potential.
- Each side currently rents for $1,200 per month.
Local 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 3.85%
Second Best
Apartment 5plus
$112.3K
$98.2K – $131.0K
NOI $7,859 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$225.0K
$196.9K – $262.5K
NOI $15,749 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Duplex includes two 1-bedroom, 1-bath units, with one unit currently rented for immediate income.
Where is this duplex located?
The property is located at 297 Chaparral Drive Bandera, TX.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Income‑producing duplex with two units, each offering 1 bedroom and 1 bathroom (2 beds, 2 baths total).; One unit currently rented for immediate income; the other provides flexibility for owner occupancy or additional rental potential.; Each side currently rents for $1,200 per month.
