Renovated Duplex with Outdoor
For Sale
$549,000
315 W Norwood, San Antonio, TX 78212
Multi-Family (2-8 Units), San Antonio, TX
Property Size1,976 SF
Lot Size0.17 Acres
Price / SF$277.83
Days on Market76
Property Features for 315 W Norwood
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Call District
Middle school
Call District
High school
Call District
Elementary school district
San Antonio I.S.D.
Middle school district
San Antonio I.S.D.
High school district
San Antonio I.S.D.
Subdivision
0900
Standard status
Active
Size
1,976 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
9772
Utilities
Cooling system
Central Air
Amenities
washer/dryer connections
outdoor space
Building Details
Year built
1941
Listing Agency:
Devora Realty
(512) 961-9084
Listed By:
Nathan Young
(512) 400-4248
Added: Jun 15
Changed: Aug 20
Last Checked: Aug 29 at 10:06PM
MLS# 1931724
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.
This renovated duplex contains 1,976 square feet across two residential units, with each unit offering two bedrooms and two bathrooms. Both residences have central air, individual washer and dryer connections, separate utility meters, and dedicated outdoor space. The property was built in 1941 and sits on a 0.168-acre lot.
Located at 315 W Norwood in San Antonio’s Alta Vista area, the duplex is positioned on a quiet residential street surrounded by maintained homes. A guest house on the property has been demolished internally, providing a potential opportunity for additional build-out subject to applicable requirements and approvals.
Located at 315 W Norwood in San Antonio’s Alta Vista area, the duplex is positioned on a quiet residential street surrounded by maintained homes. A guest house on the property has been demolished internally, providing a potential opportunity for additional build-out subject to applicable requirements and approvals.
Key Highlights
- Two‑unit duplex with 1,976 square feet of building area
- Each unit has 2 bedrooms and 2 bathrooms
- Separate utility meters for each residence
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
$22,744
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
4.14%
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%
$454,880
$454.9K
Cap Rate 7%
$324,914
$324.9K
Cap Rate 9%
$252,711
$252.7K
Market Conditions
NOI Build-Up for 1,976 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
$34.4K $17.40/SF
− Vacancy
−$1.9K −$0.96/SF
EGI
$32.5K $16.44/SF
− OpEx
−$9.7K −$4.93/SF
NOI
$22.7K $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%
$454,880
Cap Rate 7%
$324,914
Cap Rate 9%
$252,711
Alternative Uses
Best Use
Multifamily LT 5
$324.9K
$284.3K – $379.1K
NOI $22,744 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$288.3K
$252.3K – $336.4K
NOI $20,184 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$504.0K
$441.0K – $588.1K
NOI $35,283 @ 7.0% cap · market cap 6.43%
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
1,189
Businesses Nearby
Explore this area
Business Placement
Demographics for 78212, TX
26,738
Population
13,399
Households
2
Avg Household Size
39
Median Age
39%
College-Educated
85%
High-School Grad
6.9 sq mi
ZIP Area
3,875
Density / Sq Mi
$60,222
Median Household Income
$40,037
Median Earnings
$1,084
Median Rent
$299,400
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 separately metered units include private laundry hookups and outdoor areas.
Where is this duplex located?
The property is located at 315 W Norwood San Antonio, TX.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,976 square feet of building area; Each unit has 2 bedrooms and 2 bathrooms; Separate utility meters for each residence
