Quadplex with Newer
For Sale
$500,000
810 Station St, Converse, TX 78109
Four-unit residential property with fireplaces, porches, and a mix of carpet and tile finishes.
Property Size4,352 SF
Price / SF$114.89
Days on Market10
Property Features for 810 Station St
General Information
Standard status
Active
Size
4,352 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Amenities
fireplaces
porches
Building Details
Year Built
1985
Listing Agency:
Premier Realty Group Platinum
(210) 641-1400
Listed By:
Raul Vergara
Source:
Kingdomtxrealty
Added: Aug 22
Changed: Aug 30
Last Checked: Aug 30 at 5:12PM
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 Premier Realty Group Platinum
Investment Insights
Based on property information with market context.
This four-unit residential property contains 4,352 square feet and was built in 1985. Interior features include fireplaces, private porches, and a combination of carpet and tile flooring. Three units have newer HVAC systems, and three leases currently extend through 2026.
The property is located at 810 Station St in Converse, Texas, within the 78109 ZIP code. Its four-unit configuration, existing lease commitments, and documented building features provide a clear basis for evaluating the asset as a residential income property.
The property is located at 810 Station St in Converse, Texas, within the 78109 ZIP code. Its four-unit configuration, existing lease commitments, and documented building features provide a clear basis for evaluating the asset as a residential income property.
Key Highlights
- Four‑unit property totaling 4,352 square feet
- Built in 1985
- Three current leases extend through 2026
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
$45,838
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
9.17%
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%
$916,760
$916.8K
Cap Rate 7%
$654,829
$654.8K
Cap Rate 9%
$509,311
$509.3K
Market Conditions
NOI Build-Up for 4,352 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
$70.5K $16.20/SF
− Vacancy
−$5.0K −$1.15/SF
EGI
$65.5K $15.05/SF
− OpEx
−$19.6K −$4.51/SF
NOI
$45.8K $10.53/SF
Area
Bexar County, TX
Vacancy
7.12%
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%
$916,760
Cap Rate 7%
$654,829
Cap Rate 9%
$509,311
Alternative Uses
Best Use
Multifamily LT 5
$654.8K
$573.0K – $764.0K
NOI $45,838 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$569.3K
$498.2K – $664.2K
NOI $39,853 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,453 @ 7.0% cap · market cap 16.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
Explore this area
Business Placement
Demographics for 78109, TX
52,093
Population
19,279
Households
2.7
Avg Household Size
33
Median Age
31%
College-Educated
92%
High-School Grad
27.8 sq mi
ZIP Area
1,874
Density / Sq Mi
$87,635
Median Household Income
$44,182
Median Earnings
$1,645
Median Rent
$241,100
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?
Quadplex - Four-unit residential property with fireplaces, porches, and a mix of carpet and tile finishes.
Where is this quadplex located?
The property is located at 810 Station St Converse, TX.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Four‑unit property totaling 4,352 square feet; Built in 1985; Three current leases extend through 2026
