Duplex with New
For Sale
$497,500
3021 /3023 Douglas Fir, New Braunfels, TX 78130
Two residential units offer open layouts, private garages, covered patios, and fenced backyards.
Property Size2,814 SF
Price / SF$176.79
Days on Market14
Property Features for 3021 /3023 Douglas Fir
General Information
Standard status
Active
Size
2,814 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Additional Details
Highway Access
Yes
Amenities
covered patios
fenced backyards
Building Details
Year Built
2006
Listing Agency:
Keller Williams Heritage
(210) 493-3030
Listed By:
Pam Smartt
Source:
Theswinneygroup
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 25 at 5:44AM
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 Heritage
Investment Insights
Based on property information with market context.
This duplex includes two separate residences, each arranged with three bedrooms and two bathrooms. Both units feature open-concept living areas connected to the kitchen and dining space, along with primary suites that include tray ceilings and walk-in showers. Private two-car garages, covered patios, and fenced backyards add practical functionality to each side. A new roof installed in June 2025 uses 30-year dimensional shingles.
The property is located at 3021 /3023 Douglas Fir in New Braunfels, with access to I-35 and zoning within Comal ISD. Built in 2006, the configuration supports dual-residence living with dedicated indoor and outdoor areas for each unit.
The property is located at 3021 /3023 Douglas Fir in New Braunfels, with access to I-35 and zoning within Comal ISD. Built in 2006, the configuration supports dual-residence living with dedicated indoor and outdoor areas for each unit.
Key Highlights
- Two‑unit duplex with 3‑bedroom, 2‑bathroom layouts on each side
- New roof installed in June 2025 with 30‑year dimensional shingles
- Private 2‑car garage provided for each unit
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
Property Profile
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
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 residential units offer open layouts, 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 with 3‑bedroom, 2‑bathroom layouts on each side; New roof installed in June 2025 with 30‑year dimensional shingles; Private 2‑car garage provided for each unit
