Two-Building Four-Unit
New
For Sale
$625,000
560 CREST CIRCLE SAN MARCOS TX 78666, San Marcos, TX 78666
Four matching two-bedroom residences offer a consistent configuration for streamlined property operations.
Property Size3,712 SF
Price / SF$168.37
Days on Market5
Property Features for 560 CREST CIRCLE SAN MARCOS TX 78666
General Information
Standard status
Active
Size
3,712 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Building Details
Year Built
2012
Buildings
2
Stories
1
Listing Agency:
Andrew Phillips, Broker
(830) 237-5356
Listed By:
Andrew Phillips · License #0672721
(830) 237-5356
Source:
Kwsanantonio
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 12:42PM
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 Andrew Phillips, Broker
Investment Insights
Based on property information with market context.
This 3,712-square-foot quadplex includes 4 units arranged across 2 buildings, with every unit offering a 2BR/2BA layout. Constructed in 2012, the property is occupied by existing tenants and includes management infrastructure already in place. The consistent floor plan supports standardized unit turns and capital planning.
Located in San Marcos along the I-35 corridor between Austin and San Antonio, the property benefits from access to a regional employment and education base. Texas State University, with enrollment exceeding 38,000, is identified as a major local renter-demand anchor. Additional properties at 540-546 and 550-556 are also available, providing an opportunity to consider adjacent assets in the same area.
Located in San Marcos along the I-35 corridor between Austin and San Antonio, the property benefits from access to a regional employment and education base. Texas State University, with enrollment exceeding 38,000, is identified as a major local renter-demand anchor. Additional properties at 540-546 and 550-556 are also available, providing an opportunity to consider adjacent assets in the same area.
Key Highlights
- 4 units across 2 buildings
- Each unit features a 2BR/2BA configuration
- 3,712 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
$56,902
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
9.10%
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%
$1,138,040
$1.1M
Cap Rate 7%
$812,886
$812.9K
Cap Rate 9%
$632,244
$632.2K
Market Conditions
NOI Build-Up for 3,712 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
$109.1K $29.40/SF
− Vacancy
−$5.7K −$1.53/SF
EGI
$103.5K $27.87/SF
− OpEx
−$46.6K −$12.54/SF
NOI
$56.9K $15.33/SF
Area
Hays County, TX
Vacancy
5.20%
Lease Rate
$29.40 /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%
$1,138,040
Cap Rate 7%
$812,886
Cap Rate 9%
$632,244
Alternative Uses
Best Use
Multifamily LT 5
$889.2K
$778.1K – $1.04M
NOI $62,245 @ 7.0% cap · market cap 9.96%
Second Best
Apartment 5plus
$812.9K
$711.3K – $948.4K
NOI $56,902 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,620 @ 7.0% cap · market cap 17.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 78666, TX
86,584
Population
36,354
Households
2.4
Avg Household Size
27
Median Age
35%
College-Educated
89%
High-School Grad
192.4 sq mi
ZIP Area
450
Density / Sq Mi
$55,478
Median Household Income
$25,890
Median Earnings
$1,294
Median Rent
$271,900
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?
Quadplex - Four matching two-bedroom residences offer a consistent configuration for streamlined property operations.
Where is this quadplex located?
The property is located at 560 CREST CIRCLE SAN MARCOS TX 78666 San Marcos, TX.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 4 units across 2 buildings; Each unit features a 2BR/2BA configuration; 3,712 square feet
