Renovated Duplex with Central
New
For Sale
$199,900
425 San Blas, San Antonio, TX 78214
Multi-Family (2-8 Units), San Antonio, TX
Property Size1,568 SF
Lot Size0.21 Acres
Price / SF$127.49
Days on Market5
Property Features for 425 San Blas
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-4
Elementary school
Adams
Middle school
Harlandale
High school
Harlandale
Elementary school district
Harlandale I.S.D
Middle school district
Harlandale I.S.D
High school district
Harlandale I.S.D
Subdivision
2100
Standard status
Active
Size
1,568 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
3362
Utilities
Cooling system
Central Air
Building Details
Year built
1985
Listing Agency:
JPAR San Antonio
(800) 683-5651
Listed By:
Jennifer Antu
(800) 683-5651
Added: Aug 25
Last Checked: Aug 29 at 10:06PM
MLS# 2011335
Copyright © 2026 LERA MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains two renovated units, each with approximately 784 square feet, two bedrooms, and one bathroom. Combined building area is 1,568 square feet. Interior updates include vinyl plank flooring, refreshed cabinetry, granite countertops, new sinks and faucet fixtures, and renewed finishes. Each unit includes an electric stove, refrigerator, and full-size washer and dryer.
Property improvements also include reinforced foundation support framing, replacement wood fascia and soffits, a new electrical breaker box serving Unit 427, and a new front door for Unit 425. Both central A/C systems have been serviced, cleaned, and maintained. The property is zoned RM-4, was built in 1985, and occupies a 0.21-acre lot in San Antonio, Texas.
Property improvements also include reinforced foundation support framing, replacement wood fascia and soffits, a new electrical breaker box serving Unit 427, and a new front door for Unit 425. Both central A/C systems have been serviced, cleaned, and maintained. The property is zoned RM-4, was built in 1985, and occupies a 0.21-acre lot in San Antonio, Texas.
Key Highlights
- Two‑unit duplex with 1,568 square feet combined
- Each unit has approximately 784 square feet, 2 bedrooms, and 1 bathroom
- Renovated interiors with vinyl plank flooring, granite countertops, and updated cabinetry
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
Lease Details
2
Residential units
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 updated residential units offer separate living spaces, appliances, and serviced central air systems.
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 has approximately 784 square feet, 2 bedrooms, and 1 bathroom; Renovated interiors with vinyl plank flooring, granite countertops, and updated cabinetry
