Duplex With Independent
New
For Sale
$535,000
321 HIGH LOW DR, New Braunfels, TX 78132
MULTI_FAMILY - New Braunfels, TX
Property Size2,231 SF
Lot Size1.30 Acres
Price / SF$239.80
Days on Market3
Property Features for 321 HIGH LOW DR
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Hoffman Lane
Middle school
Church Hill
High school
Canyon
Elementary school district
Comal
Middle school district
Comal
High school district
Comal
Subdivision
2616
Standard status
Active
Size
2,231 SF
Lot size
1.30 Acres
Taxes and HOA fees
Tax Annual Amount
5581
Utilities
Cooling system
Central Air
Building Details
Year built
1977
Listing Agency:
D Lee Edwards Realty, Inc · ERA Real Estate
(830) 620-7653
Listed By:
D. Lee Edwards · License #0435290
(830) 620-7653
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 14 at 2:06AM
MLS# 2007990
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 duplex in New Braunfels contains 2,231 square feet arranged as two separate living units. Each residence has its own entrance and kitchen, allowing the property to function as distinct household spaces rather than a single shared layout. Central air serves the building, which was constructed in 1977.
The property encompasses 1.3 acres at 321 High Low Dr in New Braunfels, Comal County. Its setting provides separation from surrounding activity while remaining within the New Braunfels area. The two-unit configuration and independent access support a range of residential arrangements, subject to applicable requirements.
The property encompasses 1.3 acres at 321 High Low Dr in New Braunfels, Comal County. Its setting provides separation from surrounding activity while remaining within the New Braunfels area. The two-unit configuration and independent access support a range of residential arrangements, subject to applicable requirements.
Key Highlights
- Two separate living units within a 2,231‑square‑foot duplex
- Private entrance provided for each residence
- Each unit includes its own kitchen
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
$22,896
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
4.28%
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%
$457,920
$457.9K
Cap Rate 7%
$327,086
$327.1K
Cap Rate 9%
$254,400
$254.4K
Market Conditions
NOI Build-Up for 2,231 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
$36.1K $16.20/SF
− Vacancy
−$3.4K −$1.54/SF
EGI
$32.7K $14.66/SF
− OpEx
−$9.8K −$4.40/SF
NOI
$22.9K $10.26/SF
Area
Comal County, TX
Vacancy
9.50%
Lease Rate
$16.20 /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%
$457,920
Cap Rate 7%
$327,086
Cap Rate 9%
$254,400
Alternative Uses
Best Use
Multifamily LT 5
$327.1K
$286.2K – $381.6K
NOI $22,896 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$284.0K
$248.5K – $331.3K
NOI $19,878 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$569.1K
$498.0K – $663.9K
NOI $39,836 @ 7.0% cap · market cap 7.45%
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
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 78132, TX
37,475
Population
15,356
Households
2.4
Avg Household Size
43
Median Age
53%
College-Educated
96%
High-School Grad
179.3 sq mi
ZIP Area
209
Density / Sq Mi
$126,934
Median Household Income
$63,870
Median Earnings
$1,531
Median Rent
$570,900
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 accessed residences provide flexible occupancy within a Central Texas property.
Where is this duplex located?
The property is located at 321 HIGH LOW DR New Braunfels, TX.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Two separate living units within a 2,231‑square‑foot duplex; Private entrance provided for each residence; Each unit includes its own kitchen
