Two-House Duplex
For Sale
$539,900
703 E Highland Blvd, San Antonio, TX 78210
Two residences share one parcel with separately metered electric and water service, supporting independent utility management.
Property Size3,220 SF
Price / SF$167.67
Days on Market198
Property Features for 703 E Highland Blvd
General Information
Standard status
Active
Size
3,220 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$5,871
Building Details
Buildings
2
Listing Agency:
Burney Properties
Listed By:
Emma Burney
(210) 787-0988
Source:
Exprealty
Added: Feb 20
Changed: Aug 31
Last Checked: Sep 5 at 2:18PM
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 Burney Properties
Investment Insights
Based on property information with market context.
This duplex property includes two separate houses on one lot. The primary residence contains 3 bedrooms, 1.5 bathrooms, and 2195 sf, while the second home at 1914 S. Pine provides 2 bedrooms, 1 bathroom, and 1025 sf. Each residence has its own electric meter and water meter.
A 24x30 carport with an electric gate adds covered vehicle storage and controlled access. The property is located in Highland Park Estates, with San Antonio ISD School Choice including Young Women's Leadership Academy Primary (PK-5).
A 24x30 carport with an electric gate adds covered vehicle storage and controlled access. The property is located in Highland Park Estates, with San Antonio ISD School Choice including Young Women's Leadership Academy Primary (PK-5).
Key Highlights
- Two separate houses situated on one lot
- Main house offers 3 bedrooms, 1.5 bathrooms, and 2195 sf
- Second house at 1914 S. Pine has 2 bedrooms, 1 bathroom, and 1025 sf
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
$37,063
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
6.86%
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%
$741,260
$741.3K
Cap Rate 7%
$529,471
$529.5K
Cap Rate 9%
$411,811
$411.8K
Market Conditions
NOI Build-Up for 3,220 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
$56.0K $17.40/SF
− Vacancy
−$3.1K −$0.96/SF
EGI
$52.9K $16.44/SF
− OpEx
−$15.9K −$4.93/SF
NOI
$37.1K $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%
$741,260
Cap Rate 7%
$529,471
Cap Rate 9%
$411,811
Alternative Uses
Best Use
Multifamily LT 5
$529.5K
$463.3K – $617.7K
NOI $37,063 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$469.9K
$411.2K – $548.2K
NOI $32,892 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$821.4K
$718.7K – $958.3K
NOI $57,496 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
432
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?
Duplex - Two residences share one parcel with separately metered electric and water service, supporting independent utility management.
Where is this duplex located?
The property is located at 703 E Highland Blvd San Antonio, TX.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: Two separate houses situated on one lot; Main house offers 3 bedrooms, 1.5 bathrooms, and 2195 sf; Second house at 1914 S. Pine has 2 bedrooms, 1 bathroom, and 1025 sf
