3-Home Short-Term Rental
For Sale
$1,250,000
608 Labor, San Antonio, TX 78210
Three distinct residences combine historic character, contemporary design, and additional capacity for future residential development.
Property Size5,448 SF
Price / SF$229.44
Days on Market28
Property Features for 608 Labor
General Information
Standard status
Active
Size
5,448 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
historic structure awaiting renovation
Units
Unit Mix
1 x 3BR/3.5BA, 2 x 2BR/2BA
Multifamily Units
3
Building Details
Year Built
2026
Buildings
4
Listing Agency:
Realty Advantage
(210) 804-1081
Listed By:
Kimberly Scandrett-Mauldin
Source:
Kingdomtxrealty
Added: Aug 3
Changed: Aug 28
Last Checked: Aug 29 at 12:09PM
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 Realty Advantage
Investment Insights
Based on property information with market context.
This short-term rental property comprises three homes totaling 5,448 square feet. The residences include a 3-bedroom, 3.5-bath home with a flex room, a 2-bedroom, 2-bath home with a large laundry room and oversized primary closet, and a 3,014-square-foot contemporary home with two primary suites and ensuite baths. The modern residence also features floating stairs, built-in living room bookcases, an open loft, a private backyard, a deck, and an upper deck. Two homes retain original historic facades, while a separate historic structure is positioned for renovation. The improvements were built in 2026.
The property is at 608 Labor in San Antonio’s historic Lavaca Historic District, with views toward the Tower of the Americas. The Alamodome is a 15-minute walk, Hemisfair’s new Hero Stadium is a 10-minute walk, and the upcoming Hero music venue is a 5-minute walk. Dining, nightlife, and entertainment options are within a 10-minute walk; a neighborhood bodega is next door and a city park is across the street.
The lot includes room for two additional houses, expanding the existing three-home configuration.
The property is at 608 Labor in San Antonio’s historic Lavaca Historic District, with views toward the Tower of the Americas. The Alamodome is a 15-minute walk, Hemisfair’s new Hero Stadium is a 10-minute walk, and the upcoming Hero music venue is a 5-minute walk. Dining, nightlife, and entertainment options are within a 10-minute walk; a neighborhood bodega is next door and a city park is across the street.
The lot includes room for two additional houses, expanding the existing three-home configuration.
Key Highlights
- Three existing homes totaling 5,448 square feet
- Home sizes include 1,368 SF, 1,066 SF, and 3,014 SF
- Two residences preserve original historic facades
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
$55,650
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
4.45%
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%
$1,113,000
$1.1M
Cap Rate 7%
$795,000
$795.0K
Cap Rate 9%
$618,333
$618.3K
Market Conditions
NOI Build-Up for 5,448 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
$107.9K $19.80/SF
− Vacancy
−$6.7K −$1.23/SF
EGI
$101.2K $18.57/SF
− OpEx
−$45.5K −$8.36/SF
NOI
$55.7K $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%
$1,113,000
Cap Rate 7%
$795,000
Cap Rate 9%
$618,333
Alternative Uses
Best Use
Apartment 5plus
$795.0K
$695.6K – $927.5K
NOI $55,650 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,278 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,231
Businesses Nearby
Explore this area
Business Placement
Demographics for 78210, TX
33,010
Population
14,410
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
76%
High-School Grad
7.3 sq mi
ZIP Area
4,522
Density / Sq Mi
$51,990
Median Household Income
$33,271
Median Earnings
$1,119
Median Rent
$172,700
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?
Short term rental property - Three distinct residences combine historic character, contemporary design, and additional capacity for future residential development.
Where is this short term rental property located?
The property is located at 608 Labor San Antonio, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three existing homes totaling 5,448 square feet; Home sizes include 1,368 SF, 1,066 SF, and 3,014 SF; Two residences preserve original historic facades
