Short-Term Rental with Rooftop
For Sale
$559,000
911 Iowa, San Antonio, TX 78203
MULTI_FAMILY - San Antonio, TX
Property Size1,702 SF
Lot Size0.14 Acres
Price / SF$328.44
Days on Market54
Property Features for 911 Iowa
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Call District
Middle school
Call District
High school
Call District
Elementary school district
San Antonio I.S.D.
Middle school district
San Antonio I.S.D.
High school district
San Antonio I.S.D.
Subdivision
1200
Standard status
Active
Size
1,702 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
7931
Amenities
rooftop terrace
Building Details
Year built
2018
Listing Agency:
Mission Real Estate Group
(210) 690-0050
Listed By:
Cynthia Vasquez
(210) 833-8137
Added: Jul 7
Changed: Jul 29
Last Checked: Aug 29 at 7:06PM
MLS# 1960315
Copyright © 2026 LERA MLS. 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 short-term rental property is configured for guest stays with a setup where each unit offers two bedrooms and two baths, along with a rooftop terrace for entertaining with city views. The property is described as currently operating as a turnkey short-term rental.
Located in downtown San Antonio near the Alamodome, it’s also described as just minutes from The Pearl and the San Antonio River Walk, placing restaurants, museums, and entertainment within easy reach.
Built in 2018, the property sits on a 0.137-acre lot and has a reported size of 1,702 square feet.
Located in downtown San Antonio near the Alamodome, it’s also described as just minutes from The Pearl and the San Antonio River Walk, placing restaurants, museums, and entertainment within easy reach.
Built in 2018, the property sits on a 0.137-acre lot and has a reported size of 1,702 square feet.
Key Highlights
- Built in 2018
- 0.137‑acre lot with reported 1,702 SF
- Turnkey short‑term rental currently operating
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
Lease Details
Multi-tenant
Tenancy
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 - Turnkey short-term rental set up for guests, with each unit featuring two bedrooms, two baths, and a rooftop terrace.
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: Built in 2018; 0.137‑acre lot with reported 1,702 SF; Turnkey short‑term rental currently operating
