Duplex with
New
For Sale
$399,000
311 Karen Ln, San Antonio, TX 78209
Two residences offer a three-bedroom, two-bathroom layout and a separate two-bedroom, one-bathroom unit.
Property Size2,462 SF
Lot Size0.34 Acres
Price / SF$162.06
Days on Market5
Property Features for 311 Karen Ln
General Information
Standard status
Active
Size
2,462 SF
Lot size
0.34 Acres
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,597
Amenities
hardwood floors
Building Details
Year Built
1952
Buildings
1
Stories
1
Listing Agency:
eXp Realty
(888) 519-7431
Listed By:
Amanda Ecklof · License #0723237
(210) 796-9444
Source:
Exprealty
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 2:27PM
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 eXp Realty
Investment Insights
Based on property information with market context.
Built in 1952, this one-story duplex contains 2,462 square feet of living space on a 0.34-acre lot. Unit A has three bedrooms, two full bathrooms, and original hardwood flooring. Unit B includes two bedrooms, one bathroom, and a two-car carport. Parking for Unit A accommodates up to three vehicles.
The property is located at 311 Karen Ln in San Antonio, Texas.
The property is located at 311 Karen Ln in San Antonio, Texas.
Key Highlights
- 2,462 square feet of living space on a 0.34‑acre lot
- One‑story duplex built in 1952
- Unit A has 3 bedrooms, 2 full bathrooms, and original hardwood floors
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
$28,338
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%
$566,760
$566.8K
Cap Rate 7%
$404,829
$404.8K
Cap Rate 9%
$314,867
$314.9K
Market Conditions
NOI Build-Up for 2,462 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
$42.8K $17.40/SF
− Vacancy
−$2.4K −$0.96/SF
EGI
$40.5K $16.44/SF
− OpEx
−$12.1K −$4.93/SF
NOI
$28.3K $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%
$566,760
Cap Rate 7%
$404,829
Cap Rate 9%
$314,867
Alternative Uses
Best Use
Multifamily LT 5
$404.8K
$354.2K – $472.3K
NOI $28,338 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$359.3K
$314.4K – $419.2K
NOI $25,149 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$628.0K
$549.5K – $732.7K
NOI $43,961 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
874
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
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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 residences offer a three-bedroom, two-bathroom layout and a separate two-bedroom, one-bathroom unit.
Where is this duplex located?
The property is located at 311 Karen Ln San Antonio, TX.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,462 square feet of living space on a 0.34‑acre lot; One‑story duplex built in 1952; Unit A has 3 bedrooms, 2 full bathrooms, and original hardwood floors
