Duplex with Lease in
For Sale
$395,000
4823-4825 Appleseed, San Antonio, TX 78238
One residence is leased through April 2027, while the other may support owner-occupancy or additional leasing.
Property Size2,490 SF
Days on Market42
Property Features for 4823-4825 Appleseed
General Information
Standard status
Active
Size
2,490 SF
Property subtype
Multi Family Home
Zoning
R-4
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,504
Building Details
Building Size
2,490 SF
Year Built
2011
Units
2
Listing Agency:
Real Broker, LLC
(210) 852-9960
Listed By:
Jacinto Rodriguez
(210) 852-9960
Source:
Southtexasrealtyservices
Added: Jul 2
Changed: Aug 12
Last Checked: Aug 12 at 5:29AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
Built in 2011, this duplex includes two residential units with functional living arrangements. Unit 4823 is occupied under a lease extending through April 2027, while the second residence may be used by an owner or leased separately. The property carries R-4 zoning and is located at 4823-4825 Appleseed in San Antonio.
The duplex sits near Ingram Park Mall, shopping, restaurants, and major employers. Access to Loop 410 and Highway 151 adds connectivity to surrounding commercial and employment areas. The two-unit configuration provides flexibility for an owner-occupant or an investor seeking a residential income property.
The duplex sits near Ingram Park Mall, shopping, restaurants, and major employers. Access to Loop 410 and Highway 151 adds connectivity to surrounding commercial and employment areas. The two-unit configuration provides flexibility for an owner-occupant or an investor seeking a residential income property.
Key Highlights
- Two‑unit duplex built in 2011
- Unit 4823 leased through April 2027
- R‑4 zoning
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
$28,660
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
7.26%
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%
$573,200
$573.2K
Cap Rate 7%
$409,429
$409.4K
Cap Rate 9%
$318,444
$318.4K
Market Conditions
NOI Build-Up for 2,490 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
$43.3K $17.40/SF
− Vacancy
−$2.4K −$0.96/SF
EGI
$40.9K $16.44/SF
− OpEx
−$12.3K −$4.93/SF
NOI
$28.7K $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%
$573,200
Cap Rate 7%
$409,429
Cap Rate 9%
$318,444
Alternative Uses
Best Use
Multifamily LT 5
$409.4K
$358.3K – $477.7K
NOI $28,660 @ 7.0% cap · market cap 7.26%
Second Best
Apartment 5plus
$363.4K
$317.9K – $423.9K
NOI $25,435 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$635.2K
$555.8K – $741.0K
NOI $44,461 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
682
Businesses Nearby
Explore this area
Business Placement
Demographics for 78238, TX
26,014
Population
11,726
Households
2.2
Avg Household Size
35
Median Age
21%
College-Educated
87%
High-School Grad
10.2 sq mi
ZIP Area
2,550
Density / Sq Mi
$56,227
Median Household Income
$36,268
Median Earnings
$1,183
Median Rent
$191,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - One residence is leased through April 2027, while the other may support owner-occupancy or additional leasing.
Where is this duplex located?
The property is located at 4823-4825 Appleseed San Antonio, TX.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2011; Unit 4823 leased through April 2027; R‑4 zoning
