Duplex with Central
For Sale
$395,000
4823-4825 Appleseed, San Antonio, TX 78238
Multi-Family (2-8 Units), San Antonio, TX
Property Size2,490 SF
Lot Size0.12 Acres
Price / SF$158.63
Days on Market65
Property Features for 4823-4825 Appleseed
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4
Elementary school
Powell Lawrence
Middle school
Ross Sul
High school
Holmes Oliver W
Elementary school district
Northside
Middle school district
Northside
High school district
Northside
Subdivision
0300
Standard status
Active
Size
2,490 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
9504
Utilities
Cooling system
Central Air
Building Details
Year built
2011
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Jacinto Rodriguez
(214) 202-7615
Added: Jul 3
Changed: Aug 20
Last Checked: Sep 5 at 10:06PM
MLS# 1997139
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.
Built in 2011, this duplex contains two residential units within 2,490 square feet and sits on a 0.118-acre lot. Central air serves the property, and the R-4 zoning designation supports its multifamily classification. One unit is occupied under a lease extending through April 2027, while the second unit offers additional flexibility for occupancy or leasing.
The property is located at 4823-4825 Appleseed in San Antonio’s 78238 ZIP code. Ingram Park Mall, shopping, restaurants, and major employers are identified in the surrounding area, with access to Loop 410 and Highway 151. The two-unit configuration provides a straightforward residential income property format for investors or an owner-occupant arrangement.
The property is located at 4823-4825 Appleseed in San Antonio’s 78238 ZIP code. Ingram Park Mall, shopping, restaurants, and major employers are identified in the surrounding area, with access to Loop 410 and Highway 151. The two-unit configuration provides a straightforward residential income property format for investors or an owner-occupant arrangement.
Key Highlights
- Two‑unit duplex totaling 2,490 square feet
- 0.118‑acre lot with R‑4 zoning
- One unit leased through April 2027
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 - Two-unit residential property with one unit leased through April 2027.
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 totaling 2,490 square feet; 0.118‑acre lot with R‑4 zoning; One unit leased through April 2027
