362 Faust St New Braunfels, TX 78130
- Residential income homes
- 2,160 SF
- 0.19 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 362 Faust St
- Year built
- 2011
- Lot size
- 0.19 lot acres
- Property size
- 2,160 SF
- Property type
- Residential income homes
- Property subtype
- Dormitories
- APN
- 10000061800
Description
This exceptional 2-unit duplex, located at 362 E Faust St in New Braunfels, TX, presents a compelling investment opportunity. Built in 2011 and renovated in 2023, this Class C multifamily property boasts a total of 2,160 square feet, with each unit offering 1,080 square feet of living space. Each unit features 3 bedrooms, 2 bathrooms, and an attached single-car garage, providing ample space for tenants. Currently operating at 100% occupancy, this property generates a strong net operating income (NOI) of $31,486, resulting in a 5.04% cap rate. The asking price is $625,000, or $312,500 per unit. Situated on a 0.19-acre lot with C3 zoning, this property offers flexibility for various uses. The property's prime location in downtown New Braunfels, near the historic Faust Street Bridge and the Guadalupe River, ensures high demand and strong rental potential. Each unit features an open floor plan, a covered patio, and a shaded backyard. The property includes 5 parking spaces per unit. An identical duplex is also available for sale nearby, presenting a unique opportunity to acquire a portfolio of high-performing assets in a desirable location. This turnkey investment offers immediate rental income and significant potential for future growth.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Braunfels
- County
- Comal
- State
- Texas
- Longitude
- -98.109499823692
- Latitude
- 29.696372847934
