Duplex with Covered
For Sale
$400,000
305 Rittiman, San Antonio, TX 78209
Two-unit property with a covered patio, exterior storage, and one unit requiring substantial rehabilitation.
Property Size2,904 SF
Price / SF$137.74
Days on Market45
Property Features for 305 Rittiman
General Information
Standard status
Active
Size
2,904 SF
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
full Rehab
Additional Details
Multifamily Units
2
Amenities
covered carport parking
storage shed
covered back yard patio
upstairs landing/balcony
covered front entrance
Building Details
Year Built
1945
Buildings
1
Listing Agency:
King, REALTORS
Listed By:
James Sheridan
(210) 860-5464
Source:
Shebaramos
Added: Jul 23
Changed: Aug 28
Last Checked: Sep 5 at 12:01PM
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 King, REALTORS
Investment Insights
Based on property information with market context.
This 2,904-square-foot duplex, built in 1945, includes two separate residential units with distinct conditions. The lower unit is occupied and has a brand-new TRANE HVAC system and furnace. The upper unit requires a full rehabilitation and additional work before use or leasing.
Exterior features include covered carport parking, a very large outdoor storage shed, a covered backyard patio, an upstairs landing or balcony, and a covered front entrance. The property is located at 305 Rittiman in San Antonio’s 78209 ZIP code, with shopping, dining, and entertainment described as minutes away.
Exterior features include covered carport parking, a very large outdoor storage shed, a covered backyard patio, an upstairs landing or balcony, and a covered front entrance. The property is located at 305 Rittiman in San Antonio’s 78209 ZIP code, with shopping, dining, and entertainment described as minutes away.
Key Highlights
- 2,904‑square‑foot duplex built in 1945
- Lower unit is occupied and features a brand‑new TRANE HVAC system and furnace
- Upper unit requires a full rehabilitation and additional work
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
$33,425
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
8.36%
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%
$668,500
$668.5K
Cap Rate 7%
$477,500
$477.5K
Cap Rate 9%
$371,389
$371.4K
Market Conditions
NOI Build-Up for 2,904 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
$50.5K $17.40/SF
− Vacancy
−$2.8K −$0.96/SF
EGI
$47.8K $16.44/SF
− OpEx
−$14.3K −$4.93/SF
NOI
$33.4K $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%
$668,500
Cap Rate 7%
$477,500
Cap Rate 9%
$371,389
Alternative Uses
Best Use
Multifamily LT 5
$477.5K
$417.8K – $557.1K
NOI $33,425 @ 7.0% cap · market cap 8.36%
Second Best
Apartment 5plus
$423.8K
$370.8K – $494.4K
NOI $29,664 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$740.8K
$648.2K – $864.2K
NOI $51,853 @ 7.0% cap · market cap 12.96%
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
683
Businesses Nearby
Explore this area
Business Placement
Demographics for 78209, TX
42,456
Population
22,771
Households
1.9
Avg Household Size
40
Median Age
62%
College-Educated
96%
High-School Grad
10.2 sq mi
ZIP Area
4,162
Density / Sq Mi
$84,180
Median Household Income
$57,921
Median Earnings
$1,371
Median Rent
$497,500
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-unit property with a covered patio, exterior storage, and one unit requiring substantial rehabilitation.
Where is this duplex located?
The property is located at 305 Rittiman San Antonio, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,904‑square‑foot duplex built in 1945; Lower unit is occupied and features a brand‑new TRANE HVAC system and furnace; Upper unit requires a full rehabilitation and additional work
