Three-Story Duplex with Rooftop
For Sale
$1,250,000
811 Montana Street, San Antonio, TX 78203
Completed in 2022, the property combines controlled access with a private courtyard and solar panel installation.
Property Size3,519 SF
Price / SF$355.21
Days on Market333
Property Features for 811 Montana Street
General Information
Standard status
Active
Size
3,519 SF
Property subtype
Multi-Family / Three Story
Zoning
AE-2
Net Operating Income
$54,503
Taxes and HOA fees
Annual Taxes
$18,264
Amenities
private courtyard
rooftop deck
solar panels
Stained Concrete
Metal
Slab
New
Conventional, VA, Cash, Investors OK
Controlled Access, Level
Building Details
Year Built
2022
Stories
3
Construction
metal framing
Listing Agency:
eXp Realty
Listed By:
Shane Neal
(726) 245-8941
Source:
Compass
Added: Oct 9, 2025
Changed: Aug 30
Last Checked: Aug 30 at 10:11PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This three-story duplex property contains 3,519 square feet and was completed in 2022. The design combines stained concrete floors with metal, wood, and glass elements, while exposed ductwork adds an industrial architectural detail. Metal framing, high-density foam insulation, solar panels, and deep reinforced foundations are incorporated into the construction.
Outdoor features include a private courtyard and a rooftop deck with views toward the Tower of the Americas. The property has controlled access and is zoned AE-2. Its construction and interior finishes create a distinctive residential income asset with a contemporary architectural character.
Outdoor features include a private courtyard and a rooftop deck with views toward the Tower of the Americas. The property has controlled access and is zoned AE-2. Its construction and interior finishes create a distinctive residential income asset with a contemporary architectural character.
Key Highlights
- 3,519‑square‑foot duplex property completed in 2022
- Three‑story design with stained concrete floors and exposed ductwork
- Private courtyard and rooftop deck with views toward the Tower of the Americas
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
$40,504
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
3.24%
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%
$810,080
$810.1K
Cap Rate 7%
$578,629
$578.6K
Cap Rate 9%
$450,044
$450.0K
Market Conditions
NOI Build-Up for 3,519 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
$61.2K $17.40/SF
− Vacancy
−$3.4K −$0.96/SF
EGI
$57.9K $16.44/SF
− OpEx
−$17.4K −$4.93/SF
NOI
$40.5K $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%
$810,080
Cap Rate 7%
$578,629
Cap Rate 9%
$450,044
Alternative Uses
Best Use
Multifamily LT 5
$578.6K
$506.3K – $675.1K
NOI $40,504 @ 7.0% cap · market cap 3.24%
Second Best
Apartment 5plus
$513.5K
$449.3K – $599.1K
NOI $35,946 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$897.6K
$785.4K – $1.05M
NOI $62,835 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
917
Businesses Nearby
Explore this area
Business Placement
Demographics for 78203, TX
5,872
Population
2,380
Households
2.5
Avg Household Size
35
Median Age
14%
College-Educated
75%
High-School Grad
1.4 sq mi
ZIP Area
4,194
Density / Sq Mi
$34,815
Median Household Income
$28,146
Median Earnings
$989
Median Rent
$139,900
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 - Completed in 2022, the property combines controlled access with a private courtyard and solar panel installation.
Where is this duplex located?
The property is located at 811 Montana Street San Antonio, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 3,519‑square‑foot duplex property completed in 2022; Three‑story design with stained concrete floors and exposed ductwork; Private courtyard and rooftop deck with views toward the Tower of the Americas
