Tenant-Occupied Duplex with Two 1-Bed
For Sale
$199,900
603 W BYRD BLVD, Universal City, TX 78148
MULTI_FAMILY - Universal City, TX
Property Size1,312 SF
Lot Size0.14 Acres
Price / SF$152.36
Days on Market97
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
(888) 519-7431
Added: May 7
Changed: Jul 30
Last Checked: Aug 11 at 5:06PM
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 includes two separate residences at 601 and 603 W Byrd Blvd. Each unit is a 1-bedroom, 1-bath layout designed for straightforward, everyday living. The property is cooled by central air, and it was built in 1959.
Set on a 0.137-acre lot in Universal City, the duplex is positioned near Randolph AFB and major highways, with shopping, dining, and entertainment in the surrounding area. Zoning is OCL.
Showings are by appointment only, and tenants should not be disturbed.
Set on a 0.137-acre lot in Universal City, the duplex is positioned near Randolph AFB and major highways, with shopping, dining, and entertainment in the surrounding area. Zoning is OCL.
Showings are by appointment only, and tenants should not be disturbed.
Key Highlights
- Tenant‑occupied duplex at 601 and 603 W Byrd Blvd
- Two 1‑bedroom, 1‑bath units
- Central air cooling
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
414
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
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?
Duplex - Tenant-occupied duplex in zoning OCL with two 1-bedroom, 1-bath units and central air cooling.
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: Tenant‑occupied duplex at 601 and 603 W Byrd Blvd; Two 1‑bedroom, 1‑bath units; Central air cooling
