Triplex with Private
For Sale
$319,950
423 W Magnolia Ave, San Antonio, TX 78212
Two units are leased, while the furnished third unit is ready for short-term leasing.
Property Size2,125 SF
Price / SF$150.56
Days on Market29
Property Features for 423 W Magnolia Ave
General Information
Standard status
Active
Size
2,125 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Houses In San Antonio
(210) 366-1162
Listed By:
Angie Borras · License #0449365
Source:
Theswinneygroup
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 30 at 7:05PM
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 Houses In San Antonio
Investment Insights
Based on property information with market context.
This 2,125-square-foot triplex was built in 1900 and includes three residential units. Two are currently leased, and the remaining unit is furnished and prepared for short-term leasing. Interior features include high ceilings, an open floor plan, substantial living and dining areas, renovated hardwood flooring, and tile floors in the kitchens and bathrooms. Appliances are included, and private parking is available at the rear of the property.
The property is located at 423 W Magnolia Ave in San Antonio, with access to major thoroughfares, public transportation, downtown, shopping, restaurants, and cafes. Its setting is described as a historic area with a quiet neighborhood atmosphere and long-time residents nearby.
The property is located at 423 W Magnolia Ave in San Antonio, with access to major thoroughfares, public transportation, downtown, shopping, restaurants, and cafes. Its setting is described as a historic area with a quiet neighborhood atmosphere and long-time residents nearby.
Key Highlights
- 2,125 SF triplex with three residential units
- Built in 1900
- Two units are presently leased
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
$24,459
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
7.64%
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%
$489,180
$489.2K
Cap Rate 7%
$349,414
$349.4K
Cap Rate 9%
$271,767
$271.8K
Market Conditions
NOI Build-Up for 2,125 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
$37.0K $17.40/SF
− Vacancy
−$2.0K −$0.96/SF
EGI
$34.9K $16.44/SF
− OpEx
−$10.5K −$4.93/SF
NOI
$24.5K $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%
$489,180
Cap Rate 7%
$349,414
Cap Rate 9%
$271,767
Alternative Uses
Best Use
Multifamily LT 5
$349.4K
$305.7K – $407.7K
NOI $24,459 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$310.1K
$271.3K – $361.8K
NOI $21,706 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$542.1K
$474.3K – $632.4K
NOI $37,944 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,116
Businesses Nearby
Explore this area
Business Placement
Demographics for 78212, TX
26,738
Population
13,399
Households
2
Avg Household Size
39
Median Age
39%
College-Educated
85%
High-School Grad
6.9 sq mi
ZIP Area
3,875
Density / Sq Mi
$60,222
Median Household Income
$40,037
Median Earnings
$1,084
Median Rent
$299,400
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?
Triplex - Two units are leased, while the furnished third unit is ready for short-term leasing.
Where is this triplex located?
The property is located at 423 W Magnolia Ave San Antonio, TX.
What is the asking price?
The asking price for this property is $319,950.
What are key features of this property?
This property features: 2,125 SF triplex with three residential units; Built in 1900; Two units are presently leased
