Furnished Duplex with Private
For Sale
$459,999
321 Andrews, San Antonio, TX 78209
Two furnished units provide flexible layouts, modern finishes, and separate outdoor areas in an established San Antonio property.
Property Size1,889 SF
Price / SF$243.51
Days on Market18
Property Features for 321 Andrews
General Information
Standard status
Active
Size
1,889 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Furnished
Yes
Business Included
Yes
Highway Access
Yes
Amenities
quartz countertops
custom soft-close wood cabinetry
complete appliance package
washer and dryer
spray foam insulation
private fenced backyards
off-street parking
Building Details
Year Built
1940
Buildings
1
Listing Agency:
Real Broker, LLC
(210) 473-0677
Listed By:
Sonny Estrada
Source:
Thebranchinc
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 30 at 7:59PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
Built in 1940, this 1,889-square-foot duplex includes two furnished units, each arranged with two bedrooms, one full bathroom, and an open-concept living plan. Interior features include quartz countertops, custom soft-close wood cabinetry, a full appliance package with washer and dryer, and spray foam insulation. The property is fully operational with active short-term rental listings.
Each unit has a private fenced backyard, and the property includes off-street parking. The address at 321 Andrews places the duplex in San Antonio, near Downtown San Antonio, major highways, shopping, dining, entertainment, and area attractions. The configuration supports continued short-term rental use as well as long-term leasing or owner occupancy of one unit.
Each unit has a private fenced backyard, and the property includes off-street parking. The address at 321 Andrews places the duplex in San Antonio, near Downtown San Antonio, major highways, shopping, dining, entertainment, and area attractions. The configuration supports continued short-term rental use as well as long-term leasing or owner occupancy of one unit.
Key Highlights
- Two‑unit duplex with 1,889 SF and a 1940 construction year
- Each unit includes 2 bedrooms and 1 full bathroom
- Fully furnished and operational with active short‑term rental listings
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
$21,743
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
4.73%
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%
$434,860
$434.9K
Cap Rate 7%
$310,614
$310.6K
Cap Rate 9%
$241,589
$241.6K
Market Conditions
NOI Build-Up for 1,889 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
$32.9K $17.40/SF
− Vacancy
−$1.8K −$0.96/SF
EGI
$31.1K $16.44/SF
− OpEx
−$9.3K −$4.93/SF
NOI
$21.7K $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%
$434,860
Cap Rate 7%
$310,614
Cap Rate 9%
$241,589
Alternative Uses
Best Use
Multifamily LT 5
$310.6K
$271.8K – $362.4K
NOI $21,743 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$275.7K
$241.2K – $321.6K
NOI $19,296 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$481.9K
$421.6K – $562.2K
NOI $33,730 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
629
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 furnished units provide flexible layouts, modern finishes, and separate outdoor areas in an established San Antonio property.
Where is this duplex located?
The property is located at 321 Andrews San Antonio, TX.
What is the asking price?
The asking price for this property is $459,999.
What are key features of this property?
This property features: Two‑unit duplex with 1,889 SF and a 1940 construction year; Each unit includes 2 bedrooms and 1 full bathroom; Fully furnished and operational with active short‑term rental listings
