Renovated Historic District
For Sale
$612,990
302 Lamar Street, San Antonio, TX 78202
Two updated residences combine open layouts, modern finishes, and outdoor space near Downtown San Antonio.
Property Size3,257 SF
Price / SF$188.21
Days on Market200
Property Features for 302 Lamar Street
General Information
Standard status
Active
Size
3,257 SF
Property subtype
Multi-Family / Two Story
Units
Unit Mix
1 x 4BR/3BA, 1 x 4BR/2.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,116
Amenities
Ceramic Tile, Wood
Composition
Conventional, FHA, VA, Cash
Building Details
Year Built
1922
Listing Agency:
Keller Williams Legacy
Listed By:
Kristen Schramme · License #568432
(210) 482-9094
Source:
Compass
Added: Feb 17
Changed: Sep 2
Last Checked: Aug 30 at 7:19AM
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 Keller Williams Legacy
Investment Insights
Based on property information with market context.
This renovated duplex at 302 Lamar Street contains two separate residences totaling 3,257 square feet. One unit offers 4 bedrooms and 3 baths, while the second includes 4 bedrooms and 2.5 baths. Both feature open-concept living areas, wood-look vinyl plank flooring, high ceilings, granite countertops, stainless steel appliances, expansive windows, and spacious bedrooms. A private exterior area provides additional space for outdoor use.
The property is located in San Antonio’s Dignowity Hill Historic District, minutes from Downtown San Antonio, the Riverwalk, the Tobin Center for the Performing Arts, the Pearl, UTSA Downtown, the Alamo, the Alamodome, Frost Bank Center, and area shopping, dining, and entertainment. Built in 1922, the duplex is eligible for the Rehabilitation Tax Incentive, with potential exemptions tied to qualifying rehabilitation work in the historic district.
The property is located in San Antonio’s Dignowity Hill Historic District, minutes from Downtown San Antonio, the Riverwalk, the Tobin Center for the Performing Arts, the Pearl, UTSA Downtown, the Alamo, the Alamodome, Frost Bank Center, and area shopping, dining, and entertainment. Built in 1922, the duplex is eligible for the Rehabilitation Tax Incentive, with potential exemptions tied to qualifying rehabilitation work in the historic district.
Key Highlights
- Two‑unit duplex totaling 3,257 square feet
- Unit mix includes 4 bedrooms and 3 baths, plus 4 bedrooms and 2.5 baths
- Renovated interiors with granite counters and stainless steel appliances
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
$37,488
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
6.12%
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%
$749,760
$749.8K
Cap Rate 7%
$535,543
$535.5K
Cap Rate 9%
$416,533
$416.5K
Market Conditions
NOI Build-Up for 3,257 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
$56.7K $17.40/SF
− Vacancy
−$3.1K −$0.96/SF
EGI
$53.6K $16.44/SF
− OpEx
−$16.1K −$4.93/SF
NOI
$37.5K $11.51/SF
Area
San Antonio, TX
Vacancy
5.50%
Lease Rate
$17.40 /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%
$749,760
Cap Rate 7%
$535,543
Cap Rate 9%
$416,533
Alternative Uses
Best Use
Multifamily LT 5
$535.5K
$468.6K – $624.8K
NOI $37,488 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$475.3K
$415.9K – $554.5K
NOI $33,270 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$830.8K
$727.0K – $969.3K
NOI $58,156 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
Explore this area
Business Placement
Demographics for 78202, TX
11,422
Population
5,288
Households
2.2
Avg Household Size
34
Median Age
26%
College-Educated
77%
High-School Grad
2.3 sq mi
ZIP Area
4,966
Density / Sq Mi
$43,708
Median Household Income
$36,390
Median Earnings
$1,218
Median Rent
$223,900
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 - Two updated residences combine open layouts, modern finishes, and outdoor space near Downtown San Antonio.
Where is this duplex located?
The property is located at 302 Lamar Street San Antonio, TX.
What is the asking price?
The asking price for this property is $612,990.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,257 square feet; Unit mix includes 4 bedrooms and 3 baths, plus 4 bedrooms and 2.5 baths; Renovated interiors with granite counters and stainless steel appliances
