Duplex With Private
For Sale
$199,900
502 S San Manuel St, San Antonio, TX 78237
Multi-Family (2-8 Units), San Antonio, TX
Property Size1,611 SF
Lot Size0.14 Acres
Price / SF$124.08
Days on Market34
Property Features for 502 S San Manuel St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4
Elementary school
Las Palmas
Middle school
Gus Garcia
High school
John F Kennedy
Elementary school district
Edgewood I.S.D
Middle school district
Edgewood I.S.D
High school district
Edgewood I.S.D
Subdivision
0700
Standard status
Active
Size
1,611 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
3248
Building Details
Year built
1950
Listing Agency:
StepStone Realty LLC
(512) 213-0195
Listed By:
Kenneth Valente
(512) 587-7989
Added: Aug 1
Changed: Aug 20
Last Checked: Sep 3 at 6:06PM
MLS# 2004761
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 1950 duplex contains two separate residential units totaling 1611 square feet. Each unit has its own entrance and a functional living arrangement. One unit is currently rented, while the property also includes additional lot area identified for a 500 sqft unit addition.
The property sits near downtown San Antonio with access to major highways, shopping, dining, schools, and area employers. Zoning is R-4, and the site encompasses 0.141 acres at 502 S San Manuel St.
The property sits near downtown San Antonio with access to major highways, shopping, dining, schools, and area employers. Zoning is R-4, and the site encompasses 0.141 acres at 502 S San Manuel St.
Key Highlights
- Two‑unit duplex with separate private entrances
- 1611 square feet across two residential units
- One unit is currently rented
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
$16,456
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
8.23%
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%
$329,120
$329.1K
Cap Rate 7%
$235,086
$235.1K
Cap Rate 9%
$182,844
$182.8K
Market Conditions
NOI Build-Up for 1,611 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
$31.9K $19.80/SF
− Vacancy
−$2.0K −$1.23/SF
EGI
$29.9K $18.57/SF
− OpEx
−$13.5K −$8.36/SF
NOI
$16.5K $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%
$329,120
Cap Rate 7%
$235,086
Cap Rate 9%
$182,844
Alternative Uses
Best Use
Multifamily LT 5
$264.9K
$231.8K – $309.1K
NOI $18,543 @ 7.0% cap · market cap 9.28%
Second Best
Apartment 5plus
$235.1K
$205.7K – $274.3K
NOI $16,456 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$410.9K
$359.6K – $479.4K
NOI $28,766 @ 7.0% cap · market cap 14.39%
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
732
Businesses Nearby
Explore this area
Business Placement
Demographics for 78237, TX
36,019
Population
12,998
Households
2.8
Avg Household Size
35
Median Age
6%
College-Educated
64%
High-School Grad
7.1 sq mi
ZIP Area
5,073
Density / Sq Mi
$40,233
Median Household Income
$27,038
Median Earnings
$987
Median Rent
$103,000
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 separate residences include practical layouts, with one unit currently rented.
Where is this duplex located?
The property is located at 502 S San Manuel St 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 separate private entrances; 1611 square feet across two residential units; One unit is currently rented
