Two-Home Multifamily
For Sale
$285,000
385 W County Road 5719, Devine, TX 78016
Country acreage includes separate mobile residences, each with three bedrooms and two bathrooms.
Property Size1,140 SF
Price / SF$250
Days on Market11
Property Features for 385 W County Road 5719
General Information
Standard status
Active
Size
1,140 SF
Property subtype
Multi-Family
Building Details
Year Built
2011
Listing Agency:
Brush Country Real Estate
(830) 709-4304
Listed By:
Vicki James
Source:
Drialtor
Added: Aug 19
Changed: Aug 29
Last Checked: Aug 29 at 7:10PM
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 Brush Country Real Estate
Investment Insights
Based on property information with market context.
This multifamily property comprises 2.16 acres with two separate mobile homes, each configured with three bedrooms and two bathrooms. The homes provide distinct residential spaces on one tract, supporting separate household occupancy. A tank is also located on the property.
Built in 2011, the property is situated in a country setting at 385 W County Road 5719 in Devine, Texas. The combination of two residences and acreage provides a straightforward multifamily configuration for residential use.
Built in 2011, the property is situated in a country setting at 385 W County Road 5719 in Devine, Texas. The combination of two residences and acreage provides a straightforward multifamily configuration for residential use.
Key Highlights
- 2.16‑acre multifamily property in a country setting
- Two separate mobile homes on one tract
- Each home has 3 bedrooms and 2 bathrooms
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
$10,157
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
3.56%
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%
$203,140
$203.1K
Cap Rate 7%
$145,100
$145.1K
Cap Rate 9%
$112,856
$112.9K
Market Conditions
NOI Build-Up for 1,140 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
$20.5K $18.00/SF
− Vacancy
−$2.1K −$1.80/SF
EGI
$18.5K $16.20/SF
− OpEx
−$8.3K −$7.29/SF
NOI
$10.2K $8.91/SF
Area
Medina County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$203,140
Cap Rate 7%
$145,100
Cap Rate 9%
$112,856
Alternative Uses
Best Use
Apartment 5plus
$145.1K
$127.0K – $169.3K
NOI $10,157 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$290.8K
$254.5K – $339.3K
NOI $20,356 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 78016, TX
10,530
Population
4,281
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
87%
High-School Grad
158.3 sq mi
ZIP Area
67
Density / Sq Mi
$57,609
Median Household Income
$36,769
Median Earnings
$739
Median Rent
$173,600
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?
Multifamily property - Country acreage includes separate mobile residences, each with three bedrooms and two bathrooms.
Where is this multifamily property located?
The property is located at 385 W County Road 5719 Devine, TX.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 2.16‑acre multifamily property in a country setting; Two separate mobile homes on one tract; Each home has 3 bedrooms and 2 bathrooms
