Alamo Heights Duplex Investment
For Sale
Contact for pricing
Pending
423 Bryn Mawr Dr, San Antonio, TX 78209
Duplex in Alamo Heights ISD, ideal for investors/owner-occupants.
Property Size2,268 SF
Days on Market157
Property Features for 423 Bryn Mawr Dr
General Information
Standard status
Pending
Size
2,268 SF
Class
C
Property subtype
Multifamily
Zoning
MF-33
Occupancy
50%
Investment Type
Value Add
Building Details
Year Built
1949
Buildings
1
Stories
2
Units
2
Listing Agency:
Multi Unit X Group
Listed By:
Sterling Williams · License #TX 682359
Source:
Crexi
Added: Mar 20
Changed: Aug 8
Last Checked: Jul 25 at 3:09PM
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 Multi Unit X Group
Investment Insights
Based on property information with market context.
This well-maintained duplex is located in the Alamo Heights School District. Each unit features 2 bedrooms and 1 bath. Unit 1 (downstairs) is vacant, allowing for immediate occupancy. Unit 2 (upstairs) is currently on a month-to-month lease. The property is clean, both inside and out. This duplex is suitable for living in one unit while renting the other, or as a rental investment. The property is located in Terrell Heights, with proximity to the Quarry Market, Lincoln Heights, The Pearl, and downtown San Antonio. The property size is 2268 square feet.
Key Highlights
- Alamo Heights ISD - Highly desirable school district.
- Ideal for investors or owner‑occupants - Flexible living/rental options.
- Unit 1 is vacant - Ready for immediate move‑in.**
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
$26,105
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
6.78%
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%
$522,100
$522.1K
Cap Rate 7%
$372,929
$372.9K
Cap Rate 9%
$290,056
$290.1K
Market Conditions
NOI Build-Up for 2,268 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 $17.40/SF
− Vacancy
−$2.2K −$0.96/SF
EGI
$37.3K $16.44/SF
− OpEx
−$11.2K −$4.93/SF
NOI
$26.1K $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%
$522,100
Cap Rate 7%
$372,929
Cap Rate 9%
$290,056
Alternative Uses
Best Use
Multifamily LT 5
$372.9K
$326.3K – $435.1K
NOI $26,105 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$331.0K
$289.6K – $386.1K
NOI $23,167 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$578.5K
$506.2K – $675.0K
NOI $40,497 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
901
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 - Duplex in Alamo Heights ISD, ideal for investors/owner-occupants.
Where is this duplex located?
The property is located at 423 Bryn Mawr Dr San Antonio, TX.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Alamo Heights ISD - Highly desirable school district.; Ideal for investors or owner‑occupants - Flexible living/rental options.; Unit 1 is vacant - Ready for immediate move‑in.**
