Two-Unit Duplex with Private
New
For Sale
$199,900
502 S San Manuel St, San Antonio, TX 78237
One unit is currently rented, with additional lot space identified for a potential third unit.
Property Size1,611 SF
Price / SF$124.08
Days on Market4
Property Features for 502 S San Manuel St
General Information
Standard status
Active
Size
1,611 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1950
Listing Agency:
StepStone Realty LLC
Listed By:
Kenneth Valente
(512) 587-7989
Source:
Mlsluxurygroup
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 18 at 9:27AM
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 StepStone Realty LLC
Investment Insights
Based on property information with market context.
Built in 1950, this 1,611-square-foot duplex contains two separate units with functional living areas and private entrances. One unit is currently rented, providing an existing rental arrangement within the property. Additional lot space is identified for a potential 500-square-foot unit, subject to verification of applicable details and requirements.
The property is located at 502 S San Manuel St in San Antonio, near downtown, major highways, shopping, dining, schools, and area employers. Its two-unit configuration and separate entrances support both rental and owner-occupant use, while the additional lot area offers a stated expansion possibility.
The property is located at 502 S San Manuel St in San Antonio, near downtown, major highways, shopping, dining, schools, and area employers. Its two-unit configuration and separate entrances support both rental and owner-occupant use, while the additional lot area offers a stated expansion possibility.
Key Highlights
- Two separate units with private entrances
- One unit is currently rented
- 1,611 square feet
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
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Open Analytics
Current Use
Lease Details
2
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - One unit is currently rented, with additional lot space identified for a potential third unit.
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 separate units with private entrances; One unit is currently rented; 1,611 square feet
