Updated Two-Unit
For Sale
$179,000
427 & 431 Dunning, San Antonio, TX 78210
Two one-bedroom units combine historic details with updated electrical systems.
Property Size1,569 SF
Price / SF$114.09
Days on Market17
Property Features for 427 & 431 Dunning
General Information
Standard status
Active
Size
1,569 SF
Property subtype
Multi-Family
Building Details
Year Built
1916
Listing Agency:
Xsellence Realty
Listed By:
Robert Saenz
(210) 277-0100
Source:
Kingdomtxrealty
Added: Aug 20
Changed: Aug 29
Last Checked: Sep 5 at 11:51AM
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 Xsellence Realty
Investment Insights
Based on property information with market context.
Built in 1916, this 1,569-square-foot duplex contains two separate one-bedroom, one-bath units. The first residence features a generous living room and full kitchen, while the second uses a split-bedroom layout and includes quartz countertops in the kitchen.
Historic elements remain throughout, including restored cabinetry and interior doors. Both units have updated electrical systems, and the property includes commercial-grade solar screens on all windows along with two new water heaters. The duplex is located at 427 & 431 Dunning in San Antonio, Texas.
Historic elements remain throughout, including restored cabinetry and interior doors. Both units have updated electrical systems, and the property includes commercial-grade solar screens on all windows along with two new water heaters. The duplex is located at 427 & 431 Dunning in San Antonio, Texas.
Key Highlights
- Two‑unit duplex built in 1916
- 1,569 square feet with two 1‑bedroom, 1‑bath units
- Unit 2 features a split‑bedroom layout and quartz kitchen countertops
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
$16,027
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
8.95%
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%
$320,540
$320.5K
Cap Rate 7%
$228,957
$229.0K
Cap Rate 9%
$178,078
$178.1K
Market Conditions
NOI Build-Up for 1,569 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
$31.1K $19.80/SF
− Vacancy
−$1.9K −$1.23/SF
EGI
$29.1K $18.57/SF
− OpEx
−$13.1K −$8.36/SF
NOI
$16.0K $10.21/SF
Area
San Antonio, TX
Vacancy
6.20%
Lease Rate
$19.80 /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%
$320,540
Cap Rate 7%
$228,957
Cap Rate 9%
$178,078
Alternative Uses
Best Use
Multifamily LT 5
$258.0K
$225.7K – $301.0K
NOI $18,059 @ 7.0% cap · market cap 10.09%
Second Best
Apartment 5plus
$229.0K
$200.3K – $267.1K
NOI $16,027 @ 7.0% cap · market cap 8.95%
Theoretical Best
Office A
$400.2K
$350.2K – $466.9K
NOI $28,016 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Explore this area
Business Placement
Demographics for 78210, TX
33,010
Population
14,410
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
76%
High-School Grad
7.3 sq mi
ZIP Area
4,522
Density / Sq Mi
$51,990
Median Household Income
$33,271
Median Earnings
$1,119
Median Rent
$172,700
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 one-bedroom units combine historic details with updated electrical systems.
Where is this duplex located?
The property is located at 427 & 431 Dunning San Antonio, TX.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1916; 1,569 square feet with two 1‑bedroom, 1‑bath units; Unit 2 features a split‑bedroom layout and quartz kitchen countertops
