Duplex with New Roof and
For Sale
$497,500
Pending
3021/3023 Douglas Fir, New Braunfels, TX 78130
Multi-Family (2-8 Units), New Braunfels, TX
Property Size2,814 SF
Lot Size0.23 Acres
Days on Market90
Property Features for 3021/3023 Douglas Fir
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RESIDENTIAL
Elementary school
Morningside
Elementary school district
Comal
Middle school district
Comal
High school district
Comal
Subdivision
2705
Standard status
Pending
Size
2,814 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
8859
Utilities
Cooling system
Central Air, Heat Pump
Building Details
Year built
2006
Listing Agency:
Keller Williams Heritage · Keller Williams Realty
Listed By:
Pam Smartt
(210) 493-3030
Added: Jun 19
Changed: Sep 10
Last Checked: Sep 16 at 1:06PM
MLS# 1962084
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.
Located at 3021/3023 Douglas Fir in New Braunfels, this duplex contains two separately configured residences within a 2,814-square-foot property completed in 2006. Each unit includes three bedrooms, two bathrooms, an open living arrangement, kitchen, dining area, and private two-car garage. Interior details include tray ceilings in the primary suites, walk-in showers, and abundant natural light.
A new roof was installed in June 2025 using 30-year dimensional shingles. Both residences also provide covered patios and enclosed backyard areas. The 0.23-acre property is zoned RESIDENTIAL and offers access to I-35, with the homes located within Comal ISD.
A new roof was installed in June 2025 using 30-year dimensional shingles. Both residences also provide covered patios and enclosed backyard areas. The 0.23-acre property is zoned RESIDENTIAL and offers access to I-35, with the homes located within Comal ISD.
Key Highlights
- Two‑unit duplex totaling 2,814 square feet
- Each unit has 3 bedrooms, 2 bathrooms, and a private 2‑car garage
- New roof installed in June 2025 with 30‑year dimensional shingles
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
$28,879
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
5.80%
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%
$577,580
$577.6K
Cap Rate 7%
$412,557
$412.6K
Cap Rate 9%
$320,878
$320.9K
Market Conditions
NOI Build-Up for 2,814 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
$45.6K $16.20/SF
− Vacancy
−$4.3K −$1.54/SF
EGI
$41.3K $14.66/SF
− OpEx
−$12.4K −$4.40/SF
NOI
$28.9K $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%
$577,580
Cap Rate 7%
$412,557
Cap Rate 9%
$320,878
Alternative Uses
Best Use
Multifamily LT 5
$412.6K
$361.0K – $481.3K
NOI $28,879 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$358.2K
$313.4K – $417.9K
NOI $25,073 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$717.8K
$628.1K – $837.4K
NOI $50,246 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer private garages, covered patios, and fenced backyards.
Where is this duplex located?
The property is located at 3021/3023 Douglas Fir New Braunfels, TX.
What is the asking price?
The asking price for this property is $497,500.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,814 square feet; Each unit has 3 bedrooms, 2 bathrooms, and a private 2‑car garage; New roof installed in June 2025 with 30‑year dimensional shingles
