New Braunfels Short Term
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409 Constance Dr, New Braunfels, TX 78130
Approved short-term rental property near Creekside in New Braunfels.
Property Size1,998 SF
Price / SF$249.75
Days on Market792
Property Features for 409 Constance Dr
General Information
Standard status
Active
Size
1,998 SF
Property subtype
Industrial
Listing Agency:
Coldwell Banker Commercial - Alamo City
(210) 643-9362
Listed By:
Chris Bowers · License #TX
Source:
Crexi
Added: Jun 6, 2024
Changed: Jul 6
Last Checked: Aug 6 at 3:15PM
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 Coldwell Banker Commercial - Alamo City
Investment Insights
Based on property information with market context.
This property, located in New Braunfels, is approved for short-term rental use by the city and is situated adjacent to the Creekside commercial area. The 1,998 square-foot property is near restaurants, a movie theater, shopping, and a hospital, and is located 10 minutes from Downtown New Braunfels, Schlitterbahn, and Gruene. The two-story homes feature outdoor living spaces, upscale finishes, spa-inspired bathrooms, gourmet kitchens, and walk-in closets. The property is suitable for work, live, and play.
Key Highlights
- Approved for Short Term Rental (STR) / Air B & B / VRBO use
- Located adjacent to the Creekside commercial area with restaurants, movie theater, shopping, and hospital
- Upscale finishes and spa‑inspired bathrooms
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
$17,802
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
3.57%
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%
$356,040
$356.0K
Cap Rate 7%
$254,314
$254.3K
Cap Rate 9%
$197,800
$197.8K
Market Conditions
NOI Build-Up for 1,998 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
$36.0K $18.00/SF
− Vacancy
−$3.6K −$1.80/SF
EGI
$32.4K $16.20/SF
− OpEx
−$14.6K −$7.29/SF
NOI
$17.8K $8.91/SF
Area
Comal 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%
$356,040
Cap Rate 7%
$254,314
Cap Rate 9%
$197,800
Alternative Uses
Best Use
Apartment 5plus
$254.3K
$222.5K – $296.7K
NOI $17,802 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$509.7K
$446.0K – $594.6K
NOI $35,676 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Explore this area
Business Placement
Demographics for 78130, TX
88,349
Population
40,810
Households
2.2
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
91.0 sq mi
ZIP Area
971
Density / Sq Mi
$84,426
Median Household Income
$45,253
Median Earnings
$1,525
Median Rent
$296,300
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?
Short term rental property - Approved short-term rental property near Creekside in New Braunfels.
Where is this short term rental property located?
The property is located at 409 Constance Dr New Braunfels, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Approved for Short Term Rental (STR) / Air B & B / VRBO use; Located adjacent to the Creekside commercial area with restaurants, movie theater, shopping, and hospital; Upscale finishes and spa‑inspired bathrooms
