Value-Add Duplex with Private
For Sale
$355,000
323 Claremont Avenue, San Antonio, TX 78209
Duplex offers two 2-bedroom, 1-bath units with private entrances and room for cosmetic and maintenance improvements.
Property Size1,788 SF
Price / SF$198.55
Days on Market206
Property Features for 323 Claremont Avenue
General Information
Standard status
Active
Size
1,788 SF
Property subtype
Multi-Family / Two Story
Zoning
MF-33, NCD-6
Net Operating Income
$11,846
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,345
Amenities
Ceramic Tile, Wood
Composition
Conventional, 1st Seller Carry, Cash
Building Details
Year Built
1943
Tenancy
Multi
Listing Agency:
Sophus Properties, LLC
Listed By:
Donna Crabtree · License #512451
(210) 219-3045
Source:
Compass
Added: Feb 20
Changed: Sep 10
Last Checked: Sep 13 at 11:14AM
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 Sophus Properties, LLC
Investment Insights
Based on property information with market context.
This income-producing Mahncke Park duplex features two units, each with a 2-bedroom, 1-bath layout and a private entrance. The property is positioned for a value-add approach, with deferred maintenance and cosmetic updates identified as opportunities to improve the units and overall appearance.
Pictures were taken from the last vacancy of the units. The duplex is part of a larger Mahncke Park investment portfolio, though it may be purchased individually for investors seeking in-place rental income with the ability to address property condition.
Owner financing is available, providing an alternative to traditional financing options for qualified buyers.
Pictures were taken from the last vacancy of the units. The duplex is part of a larger Mahncke Park investment portfolio, though it may be purchased individually for investors seeking in-place rental income with the ability to address property condition.
Owner financing is available, providing an alternative to traditional financing options for qualified buyers.
Key Highlights
- 1943‑built Mahncke Park duplex with two units, each offering a 2‑bedroom, 1‑bath layout
- Each unit has a private entrance
- Interior flooring includes ceramic tile and wood
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
$20,580
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
5.80%
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%
$411,600
$411.6K
Cap Rate 7%
$294,000
$294.0K
Cap Rate 9%
$228,667
$228.7K
Market Conditions
NOI Build-Up for 1,788 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
$31.1K $17.40/SF
− Vacancy
−$1.7K −$0.96/SF
EGI
$29.4K $16.44/SF
− OpEx
−$8.8K −$4.93/SF
NOI
$20.6K $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%
$411,600
Cap Rate 7%
$294,000
Cap Rate 9%
$228,667
Alternative Uses
Best Use
Multifamily LT 5
$294.0K
$257.3K – $343.0K
NOI $20,580 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$260.9K
$228.3K – $304.4K
NOI $18,264 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$456.1K
$399.1K – $532.1K
NOI $31,926 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,012
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
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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 - Duplex offers two 2-bedroom, 1-bath units with private entrances and room for cosmetic and maintenance improvements.
Where is this duplex located?
The property is located at 323 Claremont Avenue San Antonio, TX.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 1943‑built Mahncke Park duplex with two units, each offering a 2‑bedroom, 1‑bath layout; Each unit has a private entrance; Interior flooring includes ceramic tile and wood
