Two-Unit Duplex with In-Place
For Sale
$395,000
4823-4825 Appleseed, San Antonio, TX 78238
Two residential units support separate occupancy, with one lease in place through April 2027.
Property Size2,490 SF
Price / SF$158.63
Days on Market25
Property Features for 4823-4825 Appleseed
General Information
Standard status
Active
Size
2,490 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
2011
Listing Agency:
Real Broker, LLC
(210) 696-9996
Listed By:
Jacinto Rodriguez
Source:
Shebaramos
Added: Aug 9
Changed: Aug 28
Last Checked: Sep 1 at 9:39PM
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 contains two residential units within a 2,490-square-foot property. The configuration supports separate occupancy, with Unit 4823 currently leased through April 2027. The property may suit an owner-occupant or an investor seeking a two-unit residential asset, as supported by the existing lease and distinct unit layout.
The property is located at 4823-4825 Appleseed in San Antonio. Nearby amenities include Ingram Park Mall, shopping, restaurants, and major employers. Regional access is available via Loop 410 and Highway 151, providing connectivity to surrounding commercial and employment areas.
The property is located at 4823-4825 Appleseed in San Antonio. Nearby amenities include Ingram Park Mall, shopping, restaurants, and major employers. Regional access is available via Loop 410 and Highway 151, providing connectivity to surrounding commercial and employment areas.
Key Highlights
- Two‑unit duplex configuration
- 2,490‑square‑foot property built in 2011
- Unit 4823 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
546
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units support separate occupancy, with one lease in place 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 configuration; 2,490‑square‑foot property built in 2011; Unit 4823 leased through April 2027
