Two-Unit Duplex with Split
For Sale
$197,000
512-514 Curtiss Avenue, Schertz, TX 78154
Duplex for sale featuring two separate units with fenced, split yard and updated interior finishes.
Property Size940 SF
Price / SF$209.57
Days on Market226
Property Features for 512-514 Curtiss Avenue
General Information
Standard status
Active
Size
940 SF
Property subtype
Multi-Family / One Story
Net Operating Income
$20,000
Taxes and HOA fees
Annual Taxes
$2,817
Amenities
Carpeting, Ceramic Tile, Wood
Composition
Pre-Owned
Conventional, Cash
Building Details
Year Built
1945
Listing Agency:
Keller Williams Heritage
(210) 493-3030
Listed By:
Jeanine Claus · License #0427397
Source:
Compass
Added: Dec 26, 2025
Changed: Aug 8
Last Checked: Jul 21 at 1:04AM
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 Keller Williams Heritage
Investment Insights
Based on property information with market context.
This duplex offers two residential units, each with a kitchen dining area and living area, along with a master bedroom and bath on the main level. Upstairs, each side includes a game room with a closet. The property features new paint, new tile, new LVP, and newer fixtures, and it includes plumbing for a washer/dryer that is present but not displayed.
The home sits on a split yard that is fenced. The listing notes the property is an older home and may require some TLC.
Each unit is laid out with four key living areas across two levels, supporting straightforward owner-occupant or fully rented use, depending on the buyer’s preference.
The home sits on a split yard that is fenced. The listing notes the property is an older home and may require some TLC.
Each unit is laid out with four key living areas across two levels, supporting straightforward owner-occupant or fully rented use, depending on the buyer’s preference.
Key Highlights
- 1945‑built duplex in Schertz with 2 separate units
- Each side features kitchen/dining, living area, master and bath downstairs, plus a gameroom upstairs
- Updated interior finishes include new paint, new tile, new LVP, and newer fixtures
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
$9,647
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
4.90%
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%
$192,940
$192.9K
Cap Rate 7%
$137,814
$137.8K
Cap Rate 9%
$107,189
$107.2K
Market Conditions
NOI Build-Up for 940 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
$15.2K $16.20/SF
− Vacancy
−$1.4K −$1.54/SF
EGI
$13.8K $14.66/SF
− OpEx
−$4.1K −$4.40/SF
NOI
$9.6K $10.26/SF
Area
Guadalupe County, TX
Vacancy
9.50%
Lease Rate
$16.20 /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%
$192,940
Cap Rate 7%
$137,814
Cap Rate 9%
$107,189
Alternative Uses
Best Use
Multifamily LT 5
$137.8K
$120.6K – $160.8K
NOI $9,647 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$119.6K
$104.7K – $139.6K
NOI $8,375 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$246.5K
$215.7K – $287.6K
NOI $17,258 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
Business Placement
Demographics for 78154, TX
41,533
Population
15,688
Households
2.6
Avg Household Size
38
Median Age
40%
College-Educated
94%
High-School Grad
32.9 sq mi
ZIP Area
1,262
Density / Sq Mi
$97,465
Median Household Income
$47,552
Median Earnings
$1,664
Median Rent
$296,400
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 - Duplex for sale featuring two separate units with fenced, split yard and updated interior finishes.
Where is this duplex located?
The property is located at 512-514 Curtiss Avenue Schertz, TX.
What is the asking price?
The asking price for this property is $197,000.
What are key features of this property?
This property features: 1945‑built duplex in Schertz with 2 separate units; Each side features kitchen/dining, living area, master and bath downstairs, plus a gameroom upstairs; Updated interior finishes include new paint, new tile, new LVP, and newer fixtures
