Furnished Duplex with Airbnb
For Sale
$459,999
321 Andrews, San Antonio, TX 78209
Multi-Family (2-8 Units), San Antonio, TX
Property Size1,889 SF
Lot Size0.13 Acres
Price / SF$243.51
Days on Market64
Property Features for 321 Andrews
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MULT
Elementary school
Lamar
Middle school
Mark Twain
High school
Fox Tech
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
1300
Standard status
Active
Size
1,889 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
6484
Amenities
quartz countertops
custom soft-close wood cabinetry
washer and dryer
private fenced backyards
off-street parking
Building Details
Year built
1940
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Sonny Estrada
(214) 202-7615
Added: Jun 29
Changed: Aug 20
Last Checked: Aug 31 at 4:06AM
MLS# 1949287
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.
Located at 321 Andrews in San Antonio, this duplex contains 1,889 square feet across two furnished residential units. Each unit includes 2 bedrooms, 1 full bathroom, an open-concept living arrangement, quartz countertops, soft-close wood cabinetry, and a full appliance package with washer and dryer. Spray foam insulation is also included.
The property is configured for short-term rental use, with active Airbnb listings and fully operational furnished units. Both sides provide private fenced backyards and off-street parking. Built in 1940 and zoned MULT, the property is positioned near Downtown San Antonio, major highways, shopping, dining, entertainment, and area attractions.
The property is configured for short-term rental use, with active Airbnb listings and fully operational furnished units. Both sides provide private fenced backyards and off-street parking. Built in 1940 and zoned MULT, the property is positioned near Downtown San Antonio, major highways, shopping, dining, entertainment, and area attractions.
Key Highlights
- Two‑unit duplex with 1,889 square feet
- Each unit includes 2 bedrooms and 1 full bathroom
- Active Airbnb listings with furnished, operational units
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
Yes
Fenced yard
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 residential units offer open layouts, updated finishes, appliances, and private fenced outdoor space.
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 square feet; Each unit includes 2 bedrooms and 1 full bathroom; Active Airbnb listings with furnished, operational units
