Tenant-Occupied
For Sale
$199,900
603 W BYRD BLVD, Universal City, TX 78148
Multi-Family (2-8 Units), Universal City, TX
Property Size1,312 SF
Lot Size0.14 Acres
Price / SF$152.36
Days on Market144
Property Features for 603 W BYRD BLVD
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
OCL
Elementary school
Rose Garden
Middle school
Laura Ingalls Wilder
High school
Samuel Clemens
Elementary school district
Schertz-Cibolo-Universal City ISD
Middle school district
Schertz-Cibolo-Universal City ISD
High school district
Schertz-Cibolo-Universal City ISD
Subdivision
1600
Standard status
Active
Size
1,312 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
3358
Utilities
Cooling system
Central Air
Building Details
Year built
1959
Listing Agency:
eXp Realty
(888) 519-7431
Listed By:
Laura Grau
(210) 367-3498
Added: May 7
Changed: Sep 21
Last Checked: Sep 27 at 3:06AM
MLS# 1964545
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 tenant-occupied duplex contains two one-bedroom, one-bath residences within 1,312 square feet. Built in 1959, the property provides a straightforward two-unit configuration with central air serving the units. The 0.137-acre site is zoned OCL.
The property is in Universal City near Randolph AFB, with highways, shopping, dining, and entertainment in the surrounding area. Showings are available by appointment, with tenant privacy requested during the process.
The property is in Universal City near Randolph AFB, with highways, shopping, dining, and entertainment in the surrounding area. Showings are available by appointment, with tenant privacy requested during the process.
Key Highlights
- Two‑unit duplex with one 1‑bedroom, 1‑bath residence per unit
- 1,312 square feet on a 0.137‑acre site
- Tenant‑occupied property in Universal City
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
$13,819
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
6.91%
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%
$276,380
$276.4K
Cap Rate 7%
$197,414
$197.4K
Cap Rate 9%
$153,544
$153.5K
Market Conditions
NOI Build-Up for 1,312 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
$21.3K $16.20/SF
− Vacancy
−$1.5K −$1.15/SF
EGI
$19.7K $15.05/SF
− OpEx
−$5.9K −$4.51/SF
NOI
$13.8K $10.53/SF
Area
Bexar County, TX
Vacancy
7.12%
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%
$276,380
Cap Rate 7%
$197,414
Cap Rate 9%
$153,544
Alternative Uses
Best Use
Multifamily LT 5
$197.4K
$172.7K – $230.3K
NOI $13,819 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$171.6K
$150.2K – $200.3K
NOI $12,015 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$355.1K
$310.7K – $414.3K
NOI $24,857 @ 7.0% cap · market cap 12.43%
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
768
Businesses Nearby
Explore this area
Business Placement
Demographics for 78148, TX
21,569
Population
8,597
Households
2.5
Avg Household Size
37
Median Age
34%
College-Educated
96%
High-School Grad
9.6 sq mi
ZIP Area
2,247
Density / Sq Mi
$75,395
Median Household Income
$40,850
Median Earnings
$1,252
Median Rent
$249,400
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured one-bedroom units with central air and existing tenancy provide a compact multifamily asset.
Where is this duplex located?
The property is located at 603 W BYRD BLVD Universal City, 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 one 1‑bedroom, 1‑bath residence per unit; 1,312 square feet on a 0.137‑acre site; Tenant‑occupied property in Universal City
