Updated Duplex on Corner
For Sale
$218,400
971 Chalmers Ave, San Antonio, TX 78211
One unit is tenant occupied while the other is vacant, supporting flexible occupancy or leasing plans.
Property Size1,592 SF
Lot Size0.29 Acres
Price / SF$137.19
Days on Market13
Property Features for 971 Chalmers Ave
General Information
Standard status
Active
Size
1,592 SF
Lot size
0.29 Acres
Property subtype
Multi-Family
Occupancy
50%
Additional Details
Multifamily Units
2
Amenities
Ring security system
Building Details
Year Built
1947
Buildings
1
Listing Agency:
eXp Realty
Listed By:
Tyler Moore
(830) 370-5551
Source:
Sarahildebrandaguilera
Added: Aug 24
Changed: Aug 28
Last Checked: Sep 5 at 11:10AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This updated duplex contains 1592 square feet on a 0.29-acre corner parcel in San Antonio’s Harlandale NW area. The property includes two functional units with refreshed interiors, mature trees, outdoor space, and ample parking. One unit is currently tenant occupied, while the second is vacant and available for an owner occupant or new tenant.
Selected plumbing, sewer, and electrical improvements have been completed, and a Ring security system remains in place. The property was built in 1947 and is located near shopping, dining, schools, and major roadways. Foundation, plumbing, and warranty information is available for review.
Selected plumbing, sewer, and electrical improvements have been completed, and a Ring security system remains in place. The property was built in 1947 and is located near shopping, dining, schools, and major roadways. Foundation, plumbing, and warranty information is available for review.
Key Highlights
- 1592 SF duplex on a 0.29 acre corner lot
- One unit tenant occupied; second unit vacant
- Updated interiors with functional unit layouts
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
$18,324
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
8.39%
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%
$366,480
$366.5K
Cap Rate 7%
$261,771
$261.8K
Cap Rate 9%
$203,600
$203.6K
Market Conditions
NOI Build-Up for 1,592 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
$27.7K $17.40/SF
− Vacancy
−$1.5K −$0.96/SF
EGI
$26.2K $16.44/SF
− OpEx
−$7.9K −$4.93/SF
NOI
$18.3K $11.51/SF
Area
San Antonio, TX
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$366,480
Cap Rate 7%
$261,771
Cap Rate 9%
$203,600
Alternative Uses
Best Use
Multifamily LT 5
$261.8K
$229.1K – $305.4K
NOI $18,324 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$232.3K
$203.3K – $271.0K
NOI $16,262 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$406.1K
$355.3K – $473.8K
NOI $28,426 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Explore this area
Business Placement
Demographics for 78211, TX
29,976
Population
10,516
Households
2.9
Avg Household Size
35
Median Age
7%
College-Educated
63%
High-School Grad
10.2 sq mi
ZIP Area
2,939
Density / Sq Mi
$54,279
Median Household Income
$30,109
Median Earnings
$1,047
Median Rent
$110,200
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?
Duplex - One unit is tenant occupied while the other is vacant, supporting flexible occupancy or leasing plans.
Where is this duplex located?
The property is located at 971 Chalmers Ave San Antonio, TX.
What is the asking price?
The asking price for this property is $218,400.
What are key features of this property?
This property features: 1592 SF duplex on a 0.29 acre corner lot; One unit tenant occupied; second unit vacant; Updated interiors with functional unit layouts
