Building Details

Year Built 1972

Stories 1

Listing Agency: Keller Williams Heritage Show Phone

Listed By: Danjela Sula (danjelasula@kw.com)

Source: Realtyvortex

Added: Aug 11 Changed: Aug 30 Last Checked: Aug 11 at 8:31AM

Report an Issue

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 Keller Williams Heritage

Investment Insights

Based on property information with market context.

This gated multifamily property includes two separate residences with nearly 5,800 square feet of combined living space on 0.85 acres. The primary residence measures 4,272 square feet and was built in 1972; renovations include a remodeled kitchen, updated primary suite and bathroom, custom walk-in closet, refreshed flooring, modern stair and balcony railings, expanded outdoor living areas, and a finished lower level with additional bedrooms, bathrooms, and living space. Multiple porches and balconies extend the usable living areas, while mature trees and established landscaping add privacy.

Built in 2022, the second residence provides approximately 1,540 square feet with two bedrooms, two full bathrooms, a dedicated office that may serve as a third bedroom, a full kitchen, and separate living and dining areas. Additional improvements include multiple mini-split HVAC systems, expanded driveway access with rear parking, an air-conditioned workshop with storage, epoxy-coated outdoor areas, and other exterior upgrades. The two-residence layout supports multigenerational living, extended-family or guest accommodations, private office use, and potential rental income.

Key Highlights

• Two separate residences with nearly 5,800 square feet of combined living space
• Gated 0.85‑acre property with mature trees and established landscaping
• Primary residence measures 4,272 square feet and was built in 1972

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

$38,064

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

2.93%

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%

$761,280 $761.3K

Cap Rate 7%

$543,771 $543.8K

Cap Rate 9%

$422,933 $422.9K

Market Conditions

NOI Build-Up for 4,272 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

$76.9K $18.00/SF

− Vacancy

−$7.7K −$1.80/SF

EGI

$69.2K $16.20/SF

− OpEx

−$31.1K −$7.29/SF

NOI

$38.1K $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%

$761,280

Cap Rate 7%

$543,771

Cap Rate 9%

$422,933

Alternative Uses

Best Use

Apartment 5plus

$543.8K

$475.8K – $634.4K (±1% cap)

NOI $38,064 @ 7.0% cap · market cap 2.93%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.09M

$953.5K – $1.27M (±1% cap)

NOI $76,280 @ 7.0% cap · market cap 5.87%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Multifamily properties

Suggested Use

Top Pick Restaurant Spa & Massage Center Building Supply HVAC Service Law Firm Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

54

Businesses Nearby

Explore this area Business Placement

Demographics for 78266, TX

7,534

Population

2,824

Households

2.7

Avg Household Size

48

Median Age

52%

College-Educated

98%

High-School Grad

39.7 sq mi

ZIP Area

190

Density / Sq Mi

$132,470

Median Household Income

$75,851

Median Earnings

$2,282

Median Rent

$553,200

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Multifamily property - Two residences offer flexible space for multigenerational living, guests, home office use, or potential rental income.

Where is this multifamily property located?

The property is located at 9263 Cinchona Trl Garden Ridge, TX.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: Two separate residences with nearly 5,800 square feet of combined living space; Gated 0.85‑acre property with mature trees and established landscaping; Primary residence measures 4,272 square feet and was built in 1972