Updated Duplex with Private
For Sale
$369,000
306 Dietert Ln # 103 & 104, Canyon Lake, TX 78133
Two-story units combine private baths, individual garages, and association-maintained exterior improvements.
Property Size2,552 SF
Price / SF$144.59
Days on Market272
Property Features for 306 Dietert Ln # 103 & 104
General Information
Standard status
Active
Size
2,552 SF
Property subtype
Multi-Family / Two Story
Zoning
RESIDENTIAL
Net Operating Income
$25,200
Taxes and HOA fees
Annual Taxes
$5,061
Amenities
Ceramic Tile, Vinyl
Composition
Slab
Conventional, FHA, VA, TX Vet, Cash
Covered Patio
Building Details
Year Built
1984
Listing Agency:
Watters International Realty
(512) 646-0038
Listed By:
Christopher Watters · License #0567369
(512) 646-0038
Source:
Compass
Added: Dec 1, 2025
Changed: Aug 29
Last Checked: Aug 29 at 1:35PM
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 Watters International Realty
Investment Insights
Based on property information with market context.
This residential duplex contains 2,552 square feet across two separately configured units, each arranged over two stories and served by a private one-car garage. Unit 103 offers 1,384 square feet with 3 bedrooms and 3.5 baths, while Unit 104 provides 1,168 square feet with 2 bedrooms and 2.5 baths. Each bedroom has its own full bath, and Unit 104 has been fully renovated. Interior finishes include ceramic tile and vinyl, with a covered patio adding exterior space.
The HOA includes access to a pool and sports court and handles lawn care, water, trash, exterior maintenance, and roofing. The roof was replaced in 2022. Unit 103 is leased through 11/30/2026, and Unit 104 is leased through 4/30/2026. The property was built in 1984 and is designated RESIDENTIAL zoning.
The HOA includes access to a pool and sports court and handles lawn care, water, trash, exterior maintenance, and roofing. The roof was replaced in 2022. Unit 103 is leased through 11/30/2026, and Unit 104 is leased through 4/30/2026. The property was built in 1984 and is designated RESIDENTIAL zoning.
Key Highlights
- 2,552‑square‑foot duplex with 5 bedrooms and 6 baths combined
- Unit 103: 1,384 square feet, 3 bedrooms, and 3.5 baths
- Unit 104: 1,168 square feet, 2 bedrooms, and 2.5 baths
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
$26,190
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
7.10%
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%
$523,800
$523.8K
Cap Rate 7%
$374,143
$374.1K
Cap Rate 9%
$291,000
$291.0K
Market Conditions
NOI Build-Up for 2,552 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
$41.3K $16.20/SF
− Vacancy
−$3.9K −$1.54/SF
EGI
$37.4K $14.66/SF
− OpEx
−$11.2K −$4.40/SF
NOI
$26.2K $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%
$523,800
Cap Rate 7%
$374,143
Cap Rate 9%
$291,000
Alternative Uses
Best Use
Multifamily LT 5
$374.1K
$327.4K – $436.5K
NOI $26,190 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$324.8K
$284.2K – $379.0K
NOI $22,738 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$651.0K
$569.6K – $759.5K
NOI $45,568 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Explore this area
Business Placement
Demographics for 78133, TX
20,787
Population
11,208
Households
1.9
Avg Household Size
52
Median Age
33%
College-Educated
94%
High-School Grad
75.5 sq mi
ZIP Area
275
Density / Sq Mi
$80,777
Median Household Income
$45,470
Median Earnings
$1,236
Median Rent
$300,100
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-story units combine private baths, individual garages, and association-maintained exterior improvements.
Where is this duplex located?
The property is located at 306 Dietert Ln # 103 & 104 Canyon Lake, TX.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 2,552‑square‑foot duplex with 5 bedrooms and 6 baths combined; Unit 103: 1,384 square feet, 3 bedrooms, and 3.5 baths; Unit 104: 1,168 square feet, 2 bedrooms, and 2.5 baths
