Leased Duplex with
New
For Sale
$459,900
862-864 Sagewood Trail, San Marcos, TX 78666
Residential, San Marcos, TX
Property Size2,746 SF
Lot Size0.15 Acres
Price / SF$167.48
Days on Market4
Property Features for 862-864 Sagewood Trail
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Full bathrooms
8
Rooms
Bathroom 5, Bathroom 4, Bathroom 6, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 6, Bedroom 5, Bathroom 8, Bathroom 2, Bedroom 3, Bathroom 7
Parking features
Garage
Interior features
AllBedroomsUp, CeilingFans, TubShower, Vanity, GraniteCounters, KitchenFamilyRoomCombo, Pantry, SolidSurfaceCounters
Exterior features
PrivateYard
Appliances
Dryer, Dishwasher, ElectricRange, ElectricWaterHeater, Disposal, Oven, Refrigerator, Washer, SomeElectricAppliances, Range
Subdivision
Hughson Heights Sec 3-C
Lot features
City Lot, Less Than Quarter Acre
Elementary school district
San Marcos Cisd
Middle school district
San Marcos Cisd
High school district
San Marcos Cisd
Directions
From Aquarena Springs, Take Sessom, Take right on N LBJ, Left on Craddock, Left on Sagewood Trail, and duplex will be on the right.
Standard status
Active
APN
R87492
Size
2,746 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HUGHSON HEIGHTS SEC 3-C, BLOCK P, LOT 11-B
Tax Annual Amount
8056
Legal Description
HUGHSON HEIGHTS SEC 3-C, BLOCK P, LOT 11-B
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
wood-like tile/laminate
granite counter tops and backsplash
stainless steel appliances
washer/dryer
attached garage
backyard with privacy fence
Building Details
Year built
1999
Floors in Building
2
Number of units
2
Flooring type
Tile, Laminate
Building materials
HardiplankType
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Clark Real Estate Agency
Listed By:
Richard Clark · License #0558014
(512) 470-9955
Added: Sep 8
Last Checked: Sep 11 at 5:06PM
MLS# 623631
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,746-square-foot duplex contains two clean three-bedroom, three-and-a-half-bath residences, each with its own attached two-car garage and fenced backyard. Interior finishes include wood-look tile or laminate flooring, granite countertops with matching backsplash, stainless steel appliances, and in-unit washer and dryer hookups or appliances. The property was built in 1999 and has Hardiplank-type exterior construction, central electric heating and cooling, public water, and public sewer.
Both units are fully leased, with leases extending through July 2027. The duplex sits on 0.1453 acres at 862-864 Sagewood Trail in San Marcos, with access to the Texas State Shuttle route. A composition shingle roof was installed in August 2026, and each side received a full make-ready at that time.
Both units are fully leased, with leases extending through July 2027. The duplex sits on 0.1453 acres at 862-864 Sagewood Trail in San Marcos, with access to the Texas State Shuttle route. A composition shingle roof was installed in August 2026, and each side received a full make-ready at that time.
Key Highlights
- 2,746 square feet configured as a two‑unit duplex
- Each side offers 3 bedrooms and 3.5 bathrooms
- Both residences are fully leased through July 2027
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
$42,094
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
9.15%
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%
$841,880
$841.9K
Cap Rate 7%
$601,343
$601.3K
Cap Rate 9%
$467,711
$467.7K
Market Conditions
NOI Build-Up for 2,746 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
$80.7K $29.40/SF
− Vacancy
−$4.2K −$1.53/SF
EGI
$76.5K $27.87/SF
− OpEx
−$34.4K −$12.54/SF
NOI
$42.1K $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 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%
$841,880
Cap Rate 7%
$601,343
Cap Rate 9%
$467,711
Alternative Uses
Best Use
Multifamily LT 5
$657.8K
$575.6K – $767.5K
NOI $46,047 @ 7.0% cap · market cap 10.01%
Second Best
Apartment 5plus
$601.3K
$526.2K – $701.6K
NOI $42,094 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,353 @ 7.0% cap · market cap 17.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two fully occupied residences feature updated finishes, private fenced yards, and convenient access to the Texas State Shuttle route.
Where is this duplex located?
The property is located at 862-864 Sagewood Trail San Marcos, TX.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 2,746 square feet configured as a two‑unit duplex; Each side offers 3 bedrooms and 3.5 bathrooms; Both residences are fully leased through July 2027
