Two-Story Duplex with
For Sale
$397,000
3013/3015 Green Mountain Drive, New Braunfels, TX 78130
Multi-Family (2-8 Units), New Braunfels, TX
Property Size2,428 SF
Lot Size0.22 Acres
Price / SF$163.51
Days on Market78
Property Features for 3013/3015 Green Mountain Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Morningside
Elementary school district
Comal
Middle school district
Comal
High school district
Comal
Subdivision
2623
Standard status
Active
Size
2,428 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Annual Amount
6944
Utilities
Cooling system
Central Air
Amenities
fully-fenced backyards
covered patios
stainless steel appliances
Building Details
Year built
2003
Listing Agency:
Keller Williams Heritage · Keller Williams Realty
(210) 493-3030
Listed By:
Pam Smartt
(210) 493-3030
Added: Jun 13
Changed: Aug 19
Last Checked: Aug 29 at 2:06PM
MLS# 1968868
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.
Built in 2003, this two-story duplex contains 2,428 square feet, with each residence offering two bedrooms, 2.5 bathrooms, and a one-car garage. Both units feature open living, dining, and kitchen areas with neutral tile, gray paint, wood cabinetry, breakfast bars, and stainless steel appliances, including refrigerators. One kitchen has granite counters and a subway-tile backsplash, while the other includes laminate countertops.
The upper levels provide primary suites with walk-in closets, built-in shelving, double vanities, and tiled shower surrounds with recessed niches. Interior utility rooms include storage cabinetry. Outside, each side has a fully fenced backyard with mature shade trees and a covered concrete patio. A long concrete driveway provides additional off-street parking, and central air serves the property.
The upper levels provide primary suites with walk-in closets, built-in shelving, double vanities, and tiled shower surrounds with recessed niches. Interior utility rooms include storage cabinetry. Outside, each side has a fully fenced backyard with mature shade trees and a covered concrete patio. A long concrete driveway provides additional off-street parking, and central air serves the property.
Key Highlights
- 2,428‑square‑foot duplex built in 2003
- Each unit has 2 bedrooms, 2.5 bathrooms, and a 1‑car garage
- Two fully fenced backyards with mature shade trees and covered concrete patios
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
$24,918
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
6.28%
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%
$498,360
$498.4K
Cap Rate 7%
$355,971
$356.0K
Cap Rate 9%
$276,867
$276.9K
Market Conditions
NOI Build-Up for 2,428 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
$39.3K $16.20/SF
− Vacancy
−$3.7K −$1.54/SF
EGI
$35.6K $14.66/SF
− OpEx
−$10.7K −$4.40/SF
NOI
$24.9K $10.26/SF
Area
Comal 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%
$498,360
Cap Rate 7%
$355,971
Cap Rate 9%
$276,867
Alternative Uses
Best Use
Multifamily LT 5
$356.0K
$311.5K – $415.3K
NOI $24,918 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$309.0K
$270.4K – $360.6K
NOI $21,633 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$619.3K
$541.9K – $722.6K
NOI $43,354 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Explore this area
Business Placement
Demographics for 78130, TX
88,349
Population
40,810
Households
2.2
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
91.0 sq mi
ZIP Area
971
Density / Sq Mi
$84,426
Median Household Income
$45,253
Median Earnings
$1,525
Median Rent
$296,300
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 - Well-maintained duplex with open-concept interiors, private fenced yards, and central air conditioning.
Where is this duplex located?
The property is located at 3013/3015 Green Mountain Drive New Braunfels, TX.
What is the asking price?
The asking price for this property is $397,000.
What are key features of this property?
This property features: 2,428‑square‑foot duplex built in 2003; Each unit has 2 bedrooms, 2.5 bathrooms, and a 1‑car garage; Two fully fenced backyards with mature shade trees and covered concrete patios
