2-Unit Duplex with
For Sale
$354,995
6946 Lakeview Dr., San Antonio, TX 78244
Tenant-occupied duplex with updated air-conditioning systems, private outdoor areas, and separate one-car garages.
Property Size2,606 SF
Price / SF$136.22
Days on Market121
Property Features for 6946 Lakeview Dr.
General Information
Standard status
Active
Size
2,606 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Two Story
Occupancy
100%
Net Operating Income
$29,456
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,880
Amenities
Ceramic Tile, Laminate
Composition
Slab
Pre-Owned
Conventional, FHA, VA, Cash
Patio Slab, Covered Patio, Has Gutters
Building Details
Year Built
2019
Tenancy
Multi
Listing Agency:
eXp Realty
Listed By:
Dayton Schrader · License #0312921
(210) 757-9785
Source:
Compass
Added: May 8
Changed: Sep 3
Last Checked: Sep 5 at 4:00PM
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 eXp Realty
Investment Insights
Based on property information with market context.
Built in 2019, this 2,606-square-foot duplex contains two tenant-occupied residences. Each unit offers three bedrooms, two full bathrooms, and a half-bath, with living and dining areas arranged in an open-concept layout. Kitchens include updated appliances, generous cabinet and counter space, and breakfast bars. Both homes have ceramic tile or laminate flooring, upstairs laundry areas, primary suites with private bathrooms and walk-in closets, covered back patios, private backyard areas, and one-car garages.
Air-conditioning improvements include a new system installed in 2025 for Unit #2 and a replaced interior AC unit in Unit #1. The property is located near schools, shopping, and parks at 6946 Lakeview in San Antonio, with access to major highways.
Air-conditioning improvements include a new system installed in 2025 for Unit #2 and a replaced interior AC unit in Unit #1. The property is located near schools, shopping, and parks at 6946 Lakeview in San Antonio, with access to major highways.
Key Highlights
- 2,606‑square‑foot duplex built in 2019
- Both units are currently tenant‑occupied
- Each unit has 3 bedrooms, 2.5 baths, and an open‑concept living and dining area
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
$29,995
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
8.45%
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%
$599,900
$599.9K
Cap Rate 7%
$428,500
$428.5K
Cap Rate 9%
$333,278
$333.3K
Market Conditions
NOI Build-Up for 2,606 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
$45.3K $17.40/SF
− Vacancy
−$2.5K −$0.96/SF
EGI
$42.9K $16.44/SF
− OpEx
−$12.9K −$4.93/SF
NOI
$30.0K $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%
$599,900
Cap Rate 7%
$428,500
Cap Rate 9%
$333,278
Alternative Uses
Best Use
Multifamily LT 5
$428.5K
$374.9K – $499.9K
NOI $29,995 @ 7.0% cap · market cap 8.45%
Second Best
Apartment 5plus
$380.3K
$332.8K – $443.7K
NOI $26,620 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$664.7K
$581.7K – $775.5K
NOI $46,532 @ 7.0% cap · market cap 13.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
Explore this area
Business Placement
Demographics for 78244, TX
35,801
Population
12,978
Households
2.8
Avg Household Size
33
Median Age
24%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
4,773
Density / Sq Mi
$67,789
Median Household Income
$36,788
Median Earnings
$1,552
Median Rent
$195,400
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?
Duplex - Tenant-occupied duplex with updated air-conditioning systems, private outdoor areas, and separate one-car garages.
Where is this duplex located?
The property is located at 6946 Lakeview Dr. San Antonio, TX.
What is the asking price?
The asking price for this property is $354,995.
What are key features of this property?
This property features: 2,606‑square‑foot duplex built in 2019; Both units are currently tenant‑occupied; Each unit has 3 bedrooms, 2.5 baths, and an open‑concept living and dining area
