Single-Story
For Sale
$175,000
786 39th Street, Lakehills, TX 78063
Duplex improvements occupy a sloping site with mature trees in the Avalon subdivision.
Property Size1,460 SF
Lot Size1.24 Acres
Price / SF$119.86
Days on Market197
Property Features for 786 39th Street
General Information
Standard status
Active
Size
1,460 SF
Lot size
1.24 Acres
Property subtype
Multi-Family / One Story
Zoning
RE
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,235
Amenities
Carpeting, Vinyl, Other
Metal
Slab
Pre-Owned
Conventional, FHA, VA, Cash, Investors OK
Mature Trees, Mature Trees (ext feat), Sloping
Building Details
Year Built
1969
Buildings
1
Stories
1
Listing Agency:
Mitchell Realty
(210) 396-3598
Listed By:
James Garcia
(210) 396-3598
Source:
Compass
Added: Feb 14
Changed: Aug 30
Last Checked: Aug 30 at 4:27AM
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 Mitchell Realty
Investment Insights
Based on property information with market context.
This single-story duplex is currently under construction and includes metal exterior elements over a slab foundation. Interior finishes identified for the property include carpeting, vinyl, and other materials. The improvements are situated on a 1.24-acre tract with mature trees and sloping terrain.
The property is located at 786 39th Street in Lakehills, Texas, within the Avalon subdivision. Zoning is designated RE. The recorded property size is 1460.
The property is located at 786 39th Street in Lakehills, Texas, within the Avalon subdivision. Zoning is designated RE. The recorded property size is 1460.
Key Highlights
- Single‑story duplex currently under construction
- 1.24‑acre tract within the Avalon subdivision
- RE zoning designation
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
$14,984
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
8.56%
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%
$299,680
$299.7K
Cap Rate 7%
$214,057
$214.1K
Cap Rate 9%
$166,489
$166.5K
Market Conditions
NOI Build-Up for 1,460 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
$23.7K $16.20/SF
− Vacancy
−$2.2K −$1.54/SF
EGI
$21.4K $14.66/SF
− OpEx
−$6.4K −$4.40/SF
NOI
$15.0K $10.26/SF
Area
Bandera County, TX
Vacancy
9.50%
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%
$299,680
Cap Rate 7%
$214,057
Cap Rate 9%
$166,489
Alternative Uses
Best Use
Multifamily LT 5
$214.1K
$187.3K – $249.7K
NOI $14,984 @ 7.0% cap · market cap 8.56%
Second Best
Apartment 5plus
$185.8K
$162.6K – $216.8K
NOI $13,009 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$372.4K
$325.9K – $434.5K
NOI $26,069 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Explore this area
Business Placement
Demographics for 78063, TX
9,302
Population
4,947
Households
1.9
Avg Household Size
52
Median Age
28%
College-Educated
93%
High-School Grad
119.3 sq mi
ZIP Area
78
Density / Sq Mi
$79,066
Median Household Income
$38,340
Median Earnings
$964
Median Rent
$265,400
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 - Duplex improvements occupy a sloping site with mature trees in the Avalon subdivision.
Where is this duplex located?
The property is located at 786 39th Street Lakehills, TX.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Single‑story duplex currently under construction; 1.24‑acre tract within the Avalon subdivision; RE zoning designation
