Renovated Duplex with Updated
For Sale
$199,900
425 San Blas, San Antonio, TX 78214
Two residential units offer refreshed finishes, appliances, and serviced central air conditioning.
Property Size1,568 SF
Price / SF$127.49
Days on Market8
Property Features for 425 San Blas
General Information
Standard status
Active
Size
1,568 SF
Property subtype
Multi-Family
Building Details
Year Built
1985
Listing Agency:
JPAR San Antonio
Listed By:
Jennifer Antu
(800) 683-5651
Source:
Theswinneygroup
Added: Aug 29
Changed: Aug 30
Last Checked: Sep 5 at 11:52AM
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 JPAR San Antonio
Investment Insights
Based on property information with market context.
This 1985 duplex contains two residential units totaling 1,568 square feet, with approximately 784 square feet per unit. Each layout includes two bedrooms and one bathroom, along with an electric stove, refrigerator, and full-size washer and dryer. Renovation work includes vinyl plank flooring, updated cabinetry, granite countertops, new sinks and faucets, and refreshed interior finishes. Additional improvements include reinforced foundation support framing, replaced wood fascia and soffits, a new electrical breaker box serving Unit 427, and a new front door at Unit 425. Both central A/C systems have been serviced, cleaned, and maintained.
Located at 425 San Blas in San Antonio, Texas, the property is configured as two separate units suitable for residential occupancy. The two-unit format supports leasing both residences or occupying one while using the other as a rental.
Located at 425 San Blas in San Antonio, Texas, the property is configured as two separate units suitable for residential occupancy. The two-unit format supports leasing both residences or occupying one while using the other as a rental.
Key Highlights
- Two‑unit duplex with 1,568 square feet combined
- Each unit measures approximately 784 sq. ft. with 2 bedrooms and 1 bathroom
- Renovated kitchens and baths feature granite countertops, updated cabinetry, new sinks, and faucet fixtures
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
$18,048
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
9.03%
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%
$360,960
$361.0K
Cap Rate 7%
$257,829
$257.8K
Cap Rate 9%
$200,533
$200.5K
Market Conditions
NOI Build-Up for 1,568 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
$27.3K $17.40/SF
− Vacancy
−$1.5K −$0.96/SF
EGI
$25.8K $16.44/SF
− OpEx
−$7.7K −$4.93/SF
NOI
$18.0K $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%
$360,960
Cap Rate 7%
$257,829
Cap Rate 9%
$200,533
Alternative Uses
Best Use
Multifamily LT 5
$257.8K
$225.6K – $300.8K
NOI $18,048 @ 7.0% cap · market cap 9.03%
Second Best
Apartment 5plus
$228.8K
$200.2K – $267.0K
NOI $16,017 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$400.0K
$350.0K – $466.6K
NOI $27,998 @ 7.0% cap · market cap 14.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
655
Businesses Nearby
Explore this area
Business Placement
Demographics for 78214, TX
22,664
Population
8,447
Households
2.7
Avg Household Size
37
Median Age
9%
College-Educated
69%
High-School Grad
8.3 sq mi
ZIP Area
2,731
Density / Sq Mi
$41,334
Median Household Income
$31,397
Median Earnings
$934
Median Rent
$121,600
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?
Duplex - Two residential units offer refreshed finishes, appliances, and serviced central air conditioning.
Where is this duplex located?
The property is located at 425 San Blas San Antonio, TX.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,568 square feet combined; Each unit measures approximately 784 sq. ft. with 2 bedrooms and 1 bathroom; Renovated kitchens and baths feature granite countertops, updated cabinetry, new sinks, and faucet fixtures
