Fourplex With Mixed Rental
For Sale
$575,000
811 Bracewood CIR, San Marcos, TX 78666
Two-story multifamily property with renovated kitchens, established leases, and one active short-term rental.
Property Size3,228 SF
Price / SF$178.13
Days on Market60
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Property Features for 811 Bracewood CIR
General Information
Standard status
Active
Size
3,228 SF
Property subtype
Multi-Family
Occupancy
75%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
stone fireplace
breakfast bar
private entrances
balconies
porch
patio areas
mature trees
Building Details
Year Built
1981
Stories
2
Tenancy
Multi
Listing Agency:
Land & Legacy Realty LLC
(512) 757-4167
Listed By:
Longhorn Realty LLC
(512) 289-2121
Source:
Longhornrealty
Added: Aug 17
Changed: Oct 15
Last Checked: Oct 14 at 11:03PM
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 Land & Legacy Realty LLC
Investment Insights
Based on property information with market context.
This two-story fourplex was built in 1981 and contains four separate units, each with a 2-bedroom, 1-bath layout. Interiors include open living areas, stone fireplaces, and kitchens with breakfast bars. Private entrances, balconies, porch areas, and patios vary by unit, while mature trees, natural stone accents, wood siding, and views toward surrounding hills and wooded areas define the setting.
Three units are leased for long-term occupancy, and the fourth operates as an Airbnb. Completed improvements include a roof approximately two years old, remodeled kitchens, and foundation work. The property is approximately one mile from Texas State University, with access to campus by bike or car. Downtown San Marcos, dining, shopping, and recreation are also nearby.
Three units are leased for long-term occupancy, and the fourth operates as an Airbnb. Completed improvements include a roof approximately two years old, remodeled kitchens, and foundation work. The property is approximately one mile from Texas State University, with access to campus by bike or car. Downtown San Marcos, dining, shopping, and recreation are also nearby.
Key Highlights
- Four separate units, each with a 2‑bedroom, 1‑bath layout
- Three of four units currently leased for long‑term occupancy
- Fourth unit operated as an Airbnb
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,483
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$989,660
$989.7K
Cap Rate 7%
$706,900
$706.9K
Cap Rate 9%
$549,811
$549.8K
Market Conditions
NOI Build-Up for 3,228 SF
Gross rent
$94.9K $29.40/SF
− Vacancy
−$4.9K −$1.53/SF
EGI
$90.0K $27.87/SF
− OpEx
−$40.5K −$12.54/SF
NOI
$49.5K $15.33/SF
Area
Hays County, TX
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$989,660
Cap Rate 7%
$706,900
Cap Rate 9%
$549,811
Alternative Uses
Best Use
Multifamily LT 5
$773.3K
$676.6K – $902.2K
NOI $54,129 @ 7.0% cap · market cap 9.41%
Second Best
Apartment 5plus
$706.9K
$618.5K – $824.7K
NOI $49,483 @ 7.0% cap · market cap 8.61%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,457 @ 7.0% cap · market cap 16.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
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Business Placement
Demographics for 78666, TX
86,584
Population
36,354
Households
2.4
Avg Household Size
27
Median Age
35%
College-Educated
89%
High-School Grad
192.4 sq mi
ZIP Area
450
Density / Sq Mi
$55,478
Median Household Income
$25,890
Median Earnings
$1,294
Median Rent
$271,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Two-story multifamily property with renovated kitchens, established leases, and one active short-term rental.
Where is this quadplex located?
The property is located at 811 Bracewood CIR San Marcos, TX.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four separate units, each with a 2‑bedroom, 1‑bath layout; Three of four units currently leased for long‑term occupancy; Fourth unit operated as an Airbnb
