2-Unit Duplex with
New
For Sale
$399,000
311 Karen Ln, San Antonio, TX 78209
Multi-Family (2-8 Units), San Antonio, TX
Property Size2,462 SF
Lot Size0.34 Acres
Price / SF$162.06
Days on Market4
Property Features for 311 Karen Ln
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Wilshire
Middle school
Garner
High school
Macarthur
Subdivision
1300
Standard status
Active
Size
2,462 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
7598
Utilities
Cooling system
Central Air
Amenities
original hardwood floors
Building Details
Year built
1952
Listing Agency:
eXp Realty
Listed By:
Amanda Ecklof
(888) 519-7431
Added: Sep 24
Last Checked: Sep 26 at 11:06PM
MLS# 2018817
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.
Built in 1952, this one-story duplex contains 2,462 square feet of living space on a 0.343-acre lot. Original hardwood floors run through the property, and central air conditioning serves the units.
The larger unit has three bedrooms and two full bathrooms, with up to three parking spaces. The second unit has two bedrooms, one bathroom, and a two-car carport.
The larger unit has three bedrooms and two full bathrooms, with up to three parking spaces. The second unit has two bedrooms, one bathroom, and a two-car carport.
Key Highlights
- 2,462 square feet of total living space on a 0.343‑acre lot
- Built in 1952; one‑story duplex with original hardwood floors
- One unit has 3 bedrooms and 2 full bathrooms, with up to three parking spaces
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
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 - One-story property offers distinct two- and three-bedroom layouts, central air, and original hardwood flooring.
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 total living space on a 0.343‑acre lot; Built in 1952; one‑story duplex with original hardwood floors; One unit has 3 bedrooms and 2 full bathrooms, with up to three parking spaces
