Duplex Property with Two Living
For Sale
$499,850
321 HIGH LOW DR, New Braunfels, TX 78132
Multi-Family (2-8 Units), New Braunfels, TX
Property Size2,436 SF
Lot Size1.30 Acres
Price / SF$205.19
Days on Market47
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
2,436 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) 708-2319
Added: Aug 13
Changed: Sep 17
Last Checked: Sep 28 at 7:06PM
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.
Located at 321 High Low Dr in New Braunfels, this duplex property includes 2,436 square feet of living space on a 1.3-acre tract. Built in 1977, the property has two distinct living areas, each with a private entrance and full kitchen. Central air serves the improvements, while the expansive grounds provide substantial outdoor space around the residence.
The layout supports separate occupancy or combined use as one larger home by adding a door between the living areas. The property can accommodate multigenerational living, guests, a home office, or rental income, subject to applicable requirements. No current restrictions are in force, adding flexibility to the property's residential configuration and use.
The layout supports separate occupancy or combined use as one larger home by adding a door between the living areas. The property can accommodate multigenerational living, guests, a home office, or rental income, subject to applicable requirements. No current restrictions are in force, adding flexibility to the property's residential configuration and use.
Key Highlights
- 2,436‑square‑foot duplex property on 1.3 acres
- Two separate living spaces with private entrances
- Each living area includes a full 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
$25,000
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
5.00%
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%
$500,000
$500.0K
Cap Rate 7%
$357,143
$357.1K
Cap Rate 9%
$277,778
$277.8K
Market Conditions
NOI Build-Up for 2,436 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
$39.5K $16.20/SF
− Vacancy
−$3.7K −$1.54/SF
EGI
$35.7K $14.66/SF
− OpEx
−$10.7K −$4.40/SF
NOI
$25.0K $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%
$500,000
Cap Rate 7%
$357,143
Cap Rate 9%
$277,778
Alternative Uses
Best Use
Multifamily LT 5
$357.1K
$312.5K – $416.7K
NOI $25,000 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$310.1K
$271.3K – $361.8K
NOI $21,705 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$621.4K
$543.7K – $725.0K
NOI $43,497 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
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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 - Two private-entry living areas offer full kitchens, central air, and flexible occupancy options.
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 $499,850.
What are key features of this property?
This property features: 2,436‑square‑foot duplex property on 1.3 acres; Two separate living spaces with private entrances; Each living area includes a full kitchen
