Duplex with Private
New
For Sale
$499,500
614 MONTANA ST, San Antonio, TX 78203
Multi-Family (2-8 Units), San Antonio, TX
Property Size2,691 SF
Price / SF$185.62
Days on Market3
Property Features for 614 MONTANA ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
AE-2
Elementary school
Call District
Middle school
Call District
High school
Call District
Elementary school district
San Antonio I.S.D.
Middle school district
San Antonio I.S.D.
High school district
San Antonio I.S.D.
Subdivision
1200
Standard status
Active
Size
2,691 SF
Taxes and HOA fees
Tax Annual Amount
3735
Building Details
Year built
1900
Listing Agency:
eXp Realty
(888) 519-7431
Listed By:
Alejandro Cruz
(210) 683-5002
Added: Sep 25
Last Checked: Sep 27 at 12:06AM
MLS# 2019148
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 duplex contains 2,691 square feet across two residences, with six bedrooms and five full bathrooms. The front residence measures 1,514 square feet and has three bedrooms, each with its own full bathroom, along with open-concept living space and a covered patio. The 1,177-square-foot rear residence, completed in 2026, includes three bedrooms, two full bathrooms, an indoor laundry room, and a separate covered patio. It also has its own rear street access.
The property is a few blocks from the Alamodome and minutes from downtown San Antonio. Zoning is AE-2.
The property is a few blocks from the Alamodome and minutes from downtown San Antonio. Zoning is AE-2.
Key Highlights
- 2,691 square feet with 6 bedrooms and 5 full bathrooms
- Front residence: 1,514 square feet and 3 bedrooms, each with a dedicated full bathroom
- Rear residence: 1,177 square feet; completed in 2026, with 3 bedrooms and 2 full bathrooms
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
$30,974
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
6.20%
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%
$619,480
$619.5K
Cap Rate 7%
$442,486
$442.5K
Cap Rate 9%
$344,156
$344.2K
Market Conditions
NOI Build-Up for 2,691 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
$46.8K $17.40/SF
− Vacancy
−$2.6K −$0.96/SF
EGI
$44.2K $16.44/SF
− OpEx
−$13.3K −$4.93/SF
NOI
$31.0K $11.51/SF
Area
San Antonio, TX
Vacancy
5.50%
Lease Rate
$17.40 /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%
$619,480
Cap Rate 7%
$442,486
Cap Rate 9%
$344,156
Alternative Uses
Best Use
Multifamily LT 5
$442.5K
$387.2K – $516.2K
NOI $30,974 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$392.7K
$343.6K – $458.1K
NOI $27,488 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$686.4K
$600.6K – $800.8K
NOI $48,050 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
947
Businesses Nearby
Explore this area
Business Placement
Demographics for 78203, TX
5,872
Population
2,380
Households
2.5
Avg Household Size
35
Median Age
14%
College-Educated
75%
High-School Grad
1.4 sq mi
ZIP Area
4,194
Density / Sq Mi
$34,815
Median Household Income
$28,146
Median Earnings
$989
Median Rent
$139,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 residences provide separate living areas, covered outdoor space, and distinct access arrangements.
Where is this duplex located?
The property is located at 614 MONTANA ST San Antonio, TX.
What is the asking price?
The asking price for this property is $499,500.
What are key features of this property?
This property features: 2,691 square feet with 6 bedrooms and 5 full bathrooms; Front residence: 1,514 square feet and 3 bedrooms, each with a dedicated full bathroom; Rear residence: 1,177 square feet; completed in 2026, with 3 bedrooms and 2 full bathrooms
