Short-Term Rental Property with Rooftop
For Sale
$559,000
911 Iowa, San Antonio, TX 78203
A 2018-built income property with two-bedroom, two-bath layouts and access to downtown San Antonio attractions.
Property Size1,702 SF
Price / SF$328.44
Days on Market39
Property Features for 911 Iowa
General Information
Standard status
Active
Size
1,702 SF
Property subtype
Multi-Family
Amenities
rooftop terrace
Building Details
Year Built
2018
Listing Agency:
Mission Real Estate Group
(210) 690-0050
Listed By:
Cynthia Vasquez
Source:
Kingdomtxrealty
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 29 at 11:35AM
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 Mission Real Estate Group
Investment Insights
Based on property information with market context.
Built in 2018, this 1,702-square-foot property is configured for short-term rental use, with two-bedroom, two-bath accommodations and comfortable living areas. A rooftop terrace adds outdoor space for entertaining and takes in city views. The property is currently operating as a turnkey short-term rental.
Located at 911 Iowa in San Antonio, the property is near the Alamodome and within minutes of The Pearl and the San Antonio River Walk. Restaurants, museums, and entertainment venues are also nearby, placing the property within the broader downtown San Antonio setting.
Located at 911 Iowa in San Antonio, the property is near the Alamodome and within minutes of The Pearl and the San Antonio River Walk. Restaurants, museums, and entertainment venues are also nearby, placing the property within the broader downtown San Antonio setting.
Key Highlights
- 1,702‑square‑foot short‑term rental property built in 2018
- Each unit includes 2 bedrooms and 2 baths
- Rooftop terrace with city views
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
$17,386
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
3.11%
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%
$347,720
$347.7K
Cap Rate 7%
$248,371
$248.4K
Cap Rate 9%
$193,178
$193.2K
Market Conditions
NOI Build-Up for 1,702 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
$33.7K $19.80/SF
− Vacancy
−$2.1K −$1.23/SF
EGI
$31.6K $18.57/SF
− OpEx
−$14.2K −$8.36/SF
NOI
$17.4K $10.21/SF
Area
San Antonio, TX
Vacancy
6.20%
Lease Rate
$19.80 /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%
$347,720
Cap Rate 7%
$248,371
Cap Rate 9%
$193,178
Alternative Uses
Best Use
Apartment 5plus
$248.4K
$217.3K – $289.8K
NOI $17,386 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$434.2K
$379.9K – $506.5K
NOI $30,391 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
556
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?
Short term rental property - A 2018-built income property with two-bedroom, two-bath layouts and access to downtown San Antonio attractions.
Where is this short term rental property located?
The property is located at 911 Iowa San Antonio, TX.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: 1,702‑square‑foot short‑term rental property built in 2018; Each unit includes 2 bedrooms and 2 baths; Rooftop terrace with city views
