Multifamily Property with Guest
For Sale
$894,000
792 Alamo Beach Rd, Pipe Creek, TX 78063
Open-plan main residence with custom finishes, a walk-in pantry, and separate guest homes or rental units.
Property Size3,304 SF
Price / SF$270.58
Days on Market18
Property Features for 792 Alamo Beach Rd
General Information
Standard status
Active
Size
3,304 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
6
Building Details
Year Built
1970
Buildings
6
Construction
barndominium
Listing Agency:
Barnett Realty Group, LLC
(615) 719-5545
Listed By:
Lindsay Barnett
Source:
Thebranchinc
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 29 at 4:35PM
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 Barnett Realty Group, LLC
Investment Insights
Based on property information with market context.
This 3,304-square-foot multifamily property includes a primary barndominium residence and five separate guest homes or rental units. The main home is arranged around an open floor plan and includes quartz countertops, a custom vent hood, and a spacious walk-in pantry. The property encompasses over 9 acres, providing a substantial rural setting for the residential improvements.
Built in 1970, the property is located at 792 Alamo Beach Rd in Pipe Creek, Texas. Its combination of a principal residence and multiple detached living spaces supports residential occupancy, guest accommodation, or rental use as described in the property information.
Built in 1970, the property is located at 792 Alamo Beach Rd in Pipe Creek, Texas. Its combination of a principal residence and multiple detached living spaces supports residential occupancy, guest accommodation, or rental use as described in the property information.
Key Highlights
- Five separate guest homes or rental units
- 3,304‑square‑foot multifamily property
- Over 9 acres in Pipe Creek, TX
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
$29,439
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
3.29%
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%
$588,780
$588.8K
Cap Rate 7%
$420,557
$420.6K
Cap Rate 9%
$327,100
$327.1K
Market Conditions
NOI Build-Up for 3,304 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
$59.5K $18.00/SF
− Vacancy
−$5.9K −$1.80/SF
EGI
$53.5K $16.20/SF
− OpEx
−$24.1K −$7.29/SF
NOI
$29.4K $8.91/SF
Area
Bandera County, TX
Vacancy
10.00%
Lease Rate
$18.00 /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%
$588,780
Cap Rate 7%
$420,557
Cap Rate 9%
$327,100
Alternative Uses
Best Use
Apartment 5plus
$420.6K
$368.0K – $490.7K
NOI $29,439 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$842.8K
$737.5K – $983.3K
NOI $58,996 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2
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
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Frequently Asked Questions
What type of property is this?
Multifamily property - Open-plan main residence with custom finishes, a walk-in pantry, and separate guest homes or rental units.
Where is this multifamily property located?
The property is located at 792 Alamo Beach Rd Pipe Creek, TX.
What is the asking price?
The asking price for this property is $894,000.
What are key features of this property?
This property features: Five separate guest homes or rental units; 3,304‑square‑foot multifamily property; Over 9 acres in Pipe Creek, TX
